Daily S&P 500 INDEX TRACKER

[ananda77]

Trader Update -data point 23 October 2012-

Chart: http://www.spx500dailyindextracker.blogspot.com
...the SPX 500 index closed at *1433.82, a fraction below its (still) rising 50-dsma current *1434.03 after bouncing off the 2 April 2012 High *1422.38 with a intraday Low *1422.06 in late trading - the violation of the 2 April 2012 High *1422.38 causes concern as institutional investors remain stubbornly sitting at the sidelines leaving inflowing liquidity boosts in the realm of the HFT-team - the market appears likely to continue to yo-yo until the election result becomes clear or earnings motivate institutions to take the plunge and support a market featuring a below average P/E around the *14-mark

...as a result, Closes above the 50-dsma paint a bullish inspired scenario but continued rejection at this point will see the trade delve deeper into the green zone with potential of a 200-dsma current *1373.90 challenge

Kind Regards

[Hoop]

red.............................

[ananda77]

...usually do not sell any stock because of dividend income stream, but bought ASX200 short contracts yesterday at *4561 - am expecting an up day_consolidation tonight just to lure more people in 'on hope' - good opportunity to add short contracts

...anyway, do not think another bear cycle will happen soon and will add SPX500 long contracts starting at the *1390 level

Kind Regards

[ananda77]

Trader Update -data point 23 October 2012-

or earnings motivate institutions to take the plunge and support a market featuring a below average P/E around the *14-mark

Kind Regards

...inteersting article re: market valuation in contradiction to the P/E theory - Where Are We with Market Valuations?
http://www.gurufocus.com/stock-market-valuations.php

Kind Regards

[ananda77]

Trader Update -data point 5 November 2012-

Chart: http://www.spx500dailyindextracker.blogspot.com
...following a second failed challenge of its 50-dsma, the index closed weak *1414.20 below first line strong support *1427
while Long Term Trending Fed. Liquidity_Institutional Investors_Foreign Liquidity Inflows remained net positive, the SPX 500 long term strength is negative_down trending

...as a result, the index remains mired in weakness below its 50-dsma, but above *1400, potential for further short term upside moves remain - the index remains in a high risk condition for a break below the *1400 support

Kind Regards

[Hoop]

red.............................

This experimental warning system prediction using the NYA200r sentiment index was right again

[ananda77]

...nice one Hoop!!

...and as expected, the SPX500 testing its 200-dsma closing *1377.51 below current *1380.71

...as result, high risk of further downside with an intermediate *1316 target after a potential rebound off its 200-dsma stops short at swing pivot *1410

Kind Regards

[ananda77]

Trader Update -data point 14 November 2012-

...todays fail *1390 together with a potential negative Close (market still open at present) adds weakness to a nascent attempt to consolidate just below *1390 resistance. Chances are there will be another attempt on *1390 following todays soft accumulation pattern, but unless *1390 is taken out confirmed, bets remain to the downside

Kind Regards

[ananda77]

Trader Update -data point 16 November 2012-

Chart: http://www.spx500dailyindextracker.blogspot.com
...the SPX 500 now entered the July 2011 *1350 support range with 81% of very strong stocks negative and a 200-dsma on the verge of breaking negative as well a 10% correction so far from the *1470 Top - intraday trading shows accumulation around the 2011 July Highs

...as a result, good potential for a short term bounce off support for another challenge of the March 8 2012 *1365.45 Low which could lead to a renewed challenge of the 200-dsma current *1382.00 if successful - reclaiming of the 200-dsma would indicate, the market is seriously considering ending the current correction
-on the flip side, failing *1365 straight or the 200-dsma, introduces high risk into the market for more downside to the *1300 level at a minimum

Kind Regards

[dumbass]

http://www.sharetrader.co.nz/showthr...l=1#post374444

even though a little sceptism from the boys, its trucking a long quite nicely , 1500 is not too far away, but could be a good time to take profits at the upper trendline.

1290 +1310 long 2 trades 260 + points

i took profits on the upper trendline and would now like to make the case for another long term long entry.

http://www.sharetrader.co.nz/showthr...l=1#post380801

the market has come off in aggressive fashion but there are a few technical clues which make provide a low risk entry to the long side.

its a risky trade and a little more confirmation would be good but risk is defined and profit would be huge in relation to risk so worth a look.


from the technical theory i trade with there has been five waves up from the june low which means a 3 wave correction will follow.

the strongest reversal point for the 3 wave correction will occur at the 61.8 fib of the 5 wave move this occured and price respected 1343 a day ago.


looking at the internal wave structure of the correction what i look for is strong fib realtionships between the waves to give my count more credence.

we have C = 2.61 A B= 76.4 A c= 1.61 a v = 1.61 i v = .61 i-iii all within 1343 pivot

so im long from friday 1345 stop loss of 7 points from pivot 1336 with a target of new highs.

any thoughts ??



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