S&P500 daily update

Market continues the gentle slide lower which is indicative of the lack of buying power at the end of a large T structure.
And we now enter a Warning Phase.

We are now quite oversold and a short term bounce could occur soon with several indicators now flashing 'oversold'.
A cross above the diagonal descending resistance line from the all time high would be a good confirmation.

As we wait for a signal, today's test will be to see if the rising line from the February 8 push upwards holds or not.
And keep an eye on the T volume oscillator for signs of life.

NYMO and short-term RSI at, or near to, levels associated with lows…

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Price fails to hold up above the Buy signal and a Cover Signal is confirmed.
Price will need to prove itself again, before we confirm a new Buy Signal.

The T volume oscillator makes a significant move down below -50, indicating that we are now looking for a low to be confirmed, before the next wave of buying occurs.

There is strong rising support ascending from the February 8 move upwards, and otherwise there is the long term trend line from the previous peaks which was previous resistance and now may become a support line.

It is now clear that the March 1 peak at 2400 was indeed the end of a major T structure and that the 'Cluster T structures' also completed at the same time. We may see some small effects from those projections, but we are now really looking to see a new structure emerge.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market continues to retrace its steps and filled the open gap at 2369-2375 with a bounce off the long term projection from the February 2015 high (a major turn).

Price remains above the Buy Signal level for the time-being, but the risks seem higher with the continued drop in the T volume oscillator and the Osc oscillator also now indicating a slowing of the momentum.

Perhaps not yet, but at some point we should see another 'attempt' at the highs in-line with the next series of scheduled highs which are mid March and late March.

The Cluster T structures also point to peaks at those times but the T volume oscillator is not currently confirming any further strength in those structures, and this is suggesting that there is a low to be confirmed first.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market playing catch up within the higher range, still in response to the echo high and the end of the large T structure.
Game remains on but more resolution is required.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

"Take some more tea," the March Hare said to Alice, very earnestly.
"I've had nothing yet," Alice replied in an offended tone, "so I can't take more."
"You mean you can't take less," said the Hatter: "it's very easy to take more than nothing."
"Nobody asked your opinion," said Alice.”

– Lewis Carroll, Alice in Wonderland,1865

A gap and go day and the market never looked back as it breaks out above the long term projection from the February 2015 high.
The T volume oscillator responds and returns to the zero level removing the previous cautious note from the previous days, and re-confirming the Cluster T structures.

This is potentially an important event for long term reference as it is suggesting another shift is occurring in the market similar to June 2014.

Of course, the market is now rather overbought, and at some extreme levels within the various channels, and so some form of consolidation would be normal but not necessarily essential – that was a formidable and urgent move yesterday and is, I beleive,  telling us something important.

We should also be aware that yesterday is inline with the end of the Large gray T structure (+1 day) and if we see a rapid retreat from this level it would be explainable as the blow-off at the end of a large and powerful T structure. Interesting days ahead.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

The Large gray T structure from the Election low is now complete (but with a possible 1-2 extra, maybe) and we could now see a significant reduction in buying power.

T volume oscillator makes a significant move down confirming that under the hood the market is entering a distribution phase.

The longer arms of the Cluster T structures are now under threat.

It wouldn't be surprising to see the market open out its range, perhaps make a token new high and also mark out a new lower range suggested by the descending line from the small gap at 2351.

In the meantime the averages are also playing catch up, and significant support lies at the rising lines from the previous consolidation period.

Be prepared: To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes which explain how this system works.

Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

She is an imaginary girl, A fiction
I am a dog on a chain, A prisoner
When I see her walk To and Fro
My teeth grope on
All reason goes
Swing pretty girl, Swing
It ain't real anyway
Fields so blue, All drenched in red
Clouds up in the sun, I feel so dead

Imaginary Girl, David Lynch, 2007

Another grind higher, feels familiar huh?
T volume oscillator recovers somewhat and back close to zero

Is that a small megaphone pattern forming at the highs, I wonder… see if we come down and test the lower line in a few days or so.
Otherwise move along please, nothing to see here, bulls still buying the dips…

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner.
Heat, 1995, Dir: Michael Mann

Market heats up and the Bulls take control again in late afternoon trade to close the week in style, and remind us that this is a bull market, baby…

Expect the choppy and toppy grind away higher to continue until we get a cover signal.

We have an important peak projection for a high scheduled for 28 February inline with the end of the Large gray Election low T structure (+ possibly 1-2 days because the oscillator low is 2 days prior to the price low, and we have seen this reflected at previous peaks in the T structure).

We also have an important Echo high sheduled for 2 March.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Pop and drop, and a Long probe down to have a look at 2355 before returning to the highs.
Nothing going on here, move along now, please…

We are building a small flag at the highs, possible slight descending line.

T volume oscillator turns neutral – a potential warning.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

A rather mute reaction to the Fed mention of a rate increase, probably already priced in anyways, and a much needed rest with an inside day. I can see for miles and miles and I'm feeling a bit giddy.

Some consolidation needed, before a decision can be made whether to go a bit higher, or whether to retrace.
Lots of disbelievers in this recent rally – just what Mr Market likes – to confuse the majority – and this will provide plenty of fuel for further advances in due course…

Be prepared: To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes which explain how this system works.

Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.