S&P500 daily update

Starting to resolve to the upside.
Keep an eye on the oscillator as a move back above the black band would signal further strength and would probably be synchonised with a breakout to new highs. Short term target is 1894 – see what happens above.

Oops – if in doubt press the sell button! So the news is in and maybe that's all we needed.

Not quite a Sell signal so we will need to watch the action over the next few days to find out which way is the one of least resistance. Nice bounce off the previous support line at 1. so we should respect that for today.

It does look like we are heading back to new highs for a re-test of 1883, perhaps the upper trend line (5) and target for March 27 (small MOB)

Diagonal resistance line 4. appears to be taken out

Keep an eye on line 1. which we broke thru and then recovered. A second break of this line should signal a move down to line 2.

The oscillator makes a late sell signal, suggesting weakness in this recent move and this needs to be resolved either way.

Yesterday just looking like an oversold bounce unless we see stronger action today and tomorrow.

Mixed signals with the potential Buy signal above 1861 and the oscillator signalling potential weakness ahead.

Bounce on friday failed albeit only slightly, confirming the sell signal.

Watch the action at the 55 day ema now at 1828 as this can be a key pivot level.

A close above 1860 on monday would cancel the Sell Signal.

A strong sell signal yesterday creating quite a negative picture. I had expected a few more days of congestion in the 1870-1880 area, so my pre-market call yesterday after the recovery on wednesday was way off.

Unless we see a rapid recovery from here – a move above 1867 is a Buy signal – then we are now set up for a move down to 1810 or even 1775 towards the end of March as indicated by the MOB.

Tomorrow is the Ides of March – watch out for falling knives.

An interesting probe down and found support in the vicinity of line 2. Potentially a bullish signal.

Stuck between 1855 and 1882 and may need some time to resolve direction.

Changing position to LONG and SHORT at the open unless futures indicate a drop of more than 10 points (currently +3).

Refusing to budge at 1880. The longer we stay here the more likely a move up to 1900 becomes. Perhaps even 1920 at a stretch. But a break from here through line 2. signals a move to line 3.

Grinding away at the 1880 resistance level. Waiting for a signal.
Tight stop at 1866 on close or 1861 intraday.