A navigation system for trading the S&P500 index
Continued strength, and moving into another momentum peak.
Dare I say the current target looks like 2040-50.
No CommentsTo all intents and purposes we have now acheived the recovery from the 10% decline from the Sept 19 peak, and if the 'down-trend' was to stay in place then this is where we would expect to see the recent rally to falter.
This is clearly shown by the ellipse tool.
However the T structure looks strong with a momentum peak on Oct 24, and so we should expect to see continuation at least into mid November.
No CommentsThe last 2 days seem to have resolved the resistance at the 55 Ema (for now), and it wouldn't be surprising to see new highs or matched highs
The current T structure suggests that the strength will last into a topping pattern between 11th and 19th of November, it is slightly fuzzy due to the flat top between 26 August and 8 September.
No CommentsYesterday's strong action reconfirms the L/T Buy Signal, but we did see failure above the 55EMA so we may need a few days to get through here. Some consolidation is required.
Also we reached the end of the first arm of the current T structure, and so we should expect some profit-taking.
No CommentsFailure at the 55EMA and dropping back below the mid-point is potentially a L/T Sell signal. Unconfirmed due to the current S/T Buy Signal. It may just be that the market got over-heated. Note RSI 2 had got above 96 on tuesday. With the current volatility it is too close to call, particularly as 1929 was breached only in the last half hour of the day.
Futures are very positive (+13), so it looks like yesterday afternoon's negativity was unfounded.
No CommentsAnd another very strong day bringing us back up above the mid-point and providing the Long Term Buy Signal.
Note: the recent correction bounced hard at the 350 ema and that Terry laundry described this as the 'optimum moving average' for the S&P500 – a fantastic buying location for a bounce, a failure there would have significant repercussions (eg August 2008)
No CommentsA few more days of strength? Watch the action should the market continue up and meet the mid-point – in 1920s towards the end of the first arm of the split centred T structure, 23-14 oct.
Above there we have the 55EMA to contend with in the 1950s – probably strong resistance now.
No CommentsA S/T Buy Signal at 1884, which managed to hold into Friday's close depite the afternoon dip.
T volume oscillator provides a Buy Signal as well, indicating short term strength into the 23rd october, and additionally into mid november.
No CommentsLooks like we get a expiration short covering rally. Short term Buy Signal at 1884 – easily within reach today – especially with nice comments from the FED.
If we get above the 200MA at 1905, then more buyers will come in.
Beware if failure occurs below 1875 as that would be a continuation short signal.
No Commentsok looks like we had a pre-expiration panic with loads of delta hedging causing a flush.
Nice recovery, but futures are seriously negative again today. A retest of the 1830s perhaps.
Notice those 70 day pulse projections are forcing the market down. It looks like we may need to wait til end of the month before stabilisation can occur.
Looks like we have a double bottom in vol oscillator, which may mean that things are stabilising under the surface. If correct then a potential recovery into mid November.
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