A navigation system for trading the S&P500 index
I guess that leaks from the Fed meeting lifted the spirits of the mkt today and appear to have set up a Buy Signal.
As we have a tight squeeze in place now less than 30 pts – watch the action at either 2011 or 1980 for an indication of the move -> 2050 or 1950.
No CommentsSlightly high risk due to the contracted bollingers but the market is making a Buy Signal above 1994.
If the follow through holds then also an L/T Buy at 1998.
Looks like Fed magic again.
No CommentsThe grind downwards continues and the bollingers contract further. An orderly decline.
But a squeeze is about to occur. Expect a move +/- 50+ points
Maybe the Fed will bring some juice to the market, maybe the Scottish vote.
Although in steady sell mode, Shorting seems to be a risky option and until the 8/21 trigger confirms then I believe that we still may have another shot at new highs.
No CommentsA sell short signal may be imminent but is not confirmed yet by an 8/21 trigger. Further downside will trigger
Wednesday and Thursday's recoverys off the mid-point should really have led to more upside. Fridays' action looks like failure of that.
The blue T structure is suggestive of another peak, a recovery into expiration? Perhaps even into end of September.
First moves into the mid-point are often good bullish entries.
Oscillators are now looking weak.
No CommentsOscillator gives us a Sell Signal or Sell Warning – which has in the past warned that price may only make a token new high before selling off.
It is important not to think of that as a short signal until we see a confirmation signal such as a move below the mid-point or a short-trigger (8/21 crossover), but does allow us to consider entering an OTM call credit spread as a hedge.
Today's action brings us back within easy strike of the all time high again and yesterdays low held (for now). All good signs that the price structure is now following the split centre (blue).
We should then theoretically grind higher into september 17, pullback into the 23rd, and maybe higher into the 30th.
No CommentsSo we bounced off the mid-point channel and it seems that the gray price T structure is pointing to the lows.
If we get follow through then a move to 2020 for september expiration is possible.
However the oscillator is now on the verge of a Sell Signal and it is likely that it will trigger today.
Price action today could be critical.
No CommentsStopped out again on the S/T position for a small loss. (-6)
Challenging the mid-point at 1985 so a great place to bounce (or die)
The T structure suggests more upside ahead but the oscillator is weakening.
No CommentsAnother spike down and recovery, and remaining above the lines.
Oscillator still good; volume oscillator pull-back to just below zero; potentially a small diamond lozenge shaped consolidation occurring.
Are we going to get the pop to 2025 that I have been expecting, or is this a fizzle and fail?
No CommentsNow that the T structure is developing it is possible to determine the centre-post more accurately.
The red T structure centres the T on the Oscillator low of July 31st, the grey T structure is from the price low and the blue structure is a split of the 2.
The red T structure does seem to have identified the first peak, in which case we can expect the next peaks to occur on September 9 and 22.
No CommentsWith recovery back above 1995-1998, and confirmed by a close above 2006, the S/T Buy Signal is re-affirmed.
No Comments