A navigation system for trading the S&P500 index
A Buy signal occurred yesterday but because of the limited perceived upside, I will retain a neutral position.
No CommentsAssuming that we can hold onto 1869 into this afternoon's close then we have a Buy Signal. The yo-yo-ing continues. Looks like the Fed didn't really mean to upset the market….
No CommentsFound 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.
No CommentsWith the sharp move down the last 2 days the first major line of support (line 2.) comes into easy reach and I would expect to see some consolidation of the down move, a pause or even a bounce in this area. If we break that line then as with the line 1 break, then line 3 becomes the target.
The oscillator is showing weakness again and this is a reminder that when the oscillator is weak (but not oversold) that further weakness can be expected and not to trust any buy signals.
No CommentsWith the drop at the open and subsequent failure to rally beyond 1862, we have an intraday Sell signal.Of course we now are back at the lower range of the recent congestion.
Today's action negates the recent recovery in the oscillator, signalling the likelihood of further weakness.
No CommentsWe are right on the Buy/Sell line and expect a short-term bounce. perhaps a dead cat. It looks like line 1. was back kissed and said goodbye, so line 2. would now be target.
No CommentsLooks like an abrupt end to the April fools rally and looking a bit messy. Hit the short term stop at 1872 thereby preventing any losses S/T. Looks like a bounce may occur at the mid line 1866.
Look for a bounce on monday, and then probably a re-test of the mid line at 1866 to see if we can generate a down move.
The bears are hungry.
No CommentsSo far so good. A bounce from lower bollinger to upper bollinger. A pause and first test of the breakout.
Long term I am now looking for a move towards trend line 2, or 3. at some point in the future (May 1st), perhaps after a series of tests of the upper trend line 5.
No CommentsThe path of least resistance seems to be up again. Interesting very strong trend line resistance to overcome at about 1905 and rising. If we can get thru that then we target 1930ish
No CommentsA Buy Signal occurred with yesterdays action above 1872.
The oscillator is starting to recover, though I would like to have seen it pull back to zero first. Perhaps this will be short-lived.
No Comments