S&P500 daily update

Coming back up to the resistance line at 1883, and manged to break thru the diagonal resistance.

Get is indicating the likelihood of a failure at the all time high so this will be an interesting test.

Notice the oscillator is close to zero again – looks like the chopiness may continue.

Yes, we had a buy signal at 1845 prior to the hoilday, and yesterday was still a holiday for many including the UK so the float higher might have been to be expected.

From price alone, last week's recovery looks good in the S&P's but I suspect this move will be over shortly.

OK so we had the Easter fun-run up, so we can get back to the Sell in May and go away strategy.

a rather 'suspect' Buy signal yesterday. But interestingly managed to recover back to the mid-point. Potential diagonal resistance at 1874 and back in the area of max congestion.

Neutral position until next week at least. Happy easter.

An interesting recovery yesterday and really close to a 'Buy Signal' of sorts. The lack of strength indicated and the perceived congestion immediately above leads me to the Neutral position.

The ellipse projection seems to have held the down move for now, so lets see if we can get back above line 2. for a more sustained move or if we just crawl back up the underside (as with line 1.)

We can expect the shortened holiday week to be reasonably bullish moving into a 3 day weekend but discounting any geo-political risk.

Longer term projection is 1800 at line 3. May 5th.

A short term bounce should now be expected, at least to test the previous support area of 1840-45.

Advanced Get is indicating that it is unlikely for a re-test of the 1897 high in the near term due to the low PTI (below 35). This in turn suggests that we are setting up for a more long term down move – sell iin May and go away?

Having broken line 2, a test of line 3. should be on the cards soon.

Bounce at line 2 or fail and move down to line 3. ??

The ellipse indicator is also showing that we may be close to a bounce – maybe 1 or 2 more days. ugly.

A Buy signal occurred yesterday but because of the limited perceived upside, I will retain a neutral position.

Found some horizontal support for the bounce at 1838. Came perhaps close enough to line 2. to make me think that potential target acheived. watch line 2 to see if we can contain the downside and continue the sideways funk.