S&P500 daily update

Bit grumpy and mixed signals – maybe traders are looking for sell in May excuses:
– main OSC confirms Buy Signal
– T volume oscillator – potential sell warning
– potential bearish engulfing reversal signal

Watch 2103 for confirmation either way.

Looks like we grind steadily higher now reaching out for next obvious resistance – 2150
Projected for early May.

Starting to challenge this triangle, so we 'should' see further strength into early May now.

Back up at the S1 old support / now resistance line – can we proceed higher?

We did cross above zero yesterday (just) on the T volume oscillator which with the small W pattern could well be a good signal.

The triangle continues.

The character of the market seems to have changed from last years straight on up to a more jerky version, and i suspect it may continue through the summer

This favors selling credit with protection until a breakout is fully confirmed.
Watch the bollingers for confirmation of a squeeze and then get ready for direction.

Looks like we want to get out of the triangle now.

Managed to recover from potential sell signal, and after a heavy sell off a bounce would make sense – overnight trade.

Consolidation at the recent highs or another tweezer top?
Expect the usual expiration shenanigans, but i still think we will grind higher.

Looks like we are escaping from this triangle. Monitor S1 support for confirmation.

Still working off this triangle which will most probably resolve to the upside (if T structure is correct ?) and perhaps place a high early May at say 2180.

Yesterday is a good example of keeping the stop at the close or a bit loose (eg -5 pts or more) and below mid-point, S1 etc.