Daily S&P 500 INDEX TRACKER

[ananda77]

yeh its noticeable too that the 1095 area is the kijun sen (in pink) line of resistance using the ichi moku daily , kumo cloud above at 1110

...yes, after today's action on !low volume! (again), as long as the market stays below *1110 towards the end of the week, the bear will bite again, otherwise the index will trade to the *1130/*1140 range
...watch the SPX 500 consolidation *1085/*1110 pattern in the futures and open US market tonight

Kind Regards

Hi Peat,

Thanks for posting the Ichi moku style SPX 500 updates; another way of posting the charts is:
-to upload the file to www.tinypic.com
-copy the file
-and paste it into your post

in that way, those interested can see the chart without 'log on'

Thanks

[ananda77]

www.invetrics.com:- data point 17 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 17 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 17 February 2010:

...slight profit taking down from the Feb 5 Peak *1105 but the market remains strong above *1093 intraday so far supporting the view that another High is in the making for Thursday trading; however, market breadth has weakened considerably and momentum points to a heavily overbought market; risk is still high for a bearish reversal near term

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1100 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

www.invetrics.com:- data point 18 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 18 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 18 February 2010:

...ahead of option expiry, the market remains strong above *1093 intraday so far supporting the view that another High is in the making for Thursday trading; however, market breadth has weakened considerably and momentum points to a heavily overbought market; risk is still high for a bearish reversal near term

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1100 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[peat]

the action often happens after your posts a77 !
it got rejected pretty savagely from just below that cloud at 1108 this morning.... yes I know there was a news event funny how they often happen at critical TA points though

[ananda77]

www.invetrics.com:- data point 19 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 19 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 19 February 2010:

...the SPX 500 inches higher with anemic volume after penetrating the Feb 2 High *1105 and looks set to trade into the Jan 23 congestion *1123 next week

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1123 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

www.invetrics.com:- data point 22 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 22 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 22 February 2010:

...the SPX 500 consolidating above Feb 5 High *1105 on extremely light flows and looks set to trade into the Jan 23 congestion *1123* with potential to reach out to the Jan 20 Low *1129 this week

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1123 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

www.lincolnfx.com: -data point 23 February 2010

www.invetrics.com:- data point 23 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 23 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 23 February 2010:

...the SPX 500 initially pushed below intraday first support *1105 and never looked back, right now just cliffhanging on the *1090/*1094 support range; maybe a tad early to call the bulls 'diappeared over the horizon, tails between legs' but a Close today below *1094:

>>bearish config with the market loosing it's grip and falling to *1080 initially with free fall potential (+)

a Close today above *1094:

>>one possibility of a Close above *1094 would be a short 50% retrace of today's action then falling to *1080 initially with free fall potential (+)
>>another possibility of a Close above *1094 would be a second test of Jan 21 Congestion *1123 or the Jan 20 Low *1129

...regarding near term trading positions:

>>the market = positive/bullish above *1112 and the bears are dead above *1120
>>the market = trading in bear territory below *1104/*1106

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1123 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

www.lincolnfx.com: -data point 24 February 2010

www.invetrics.com:- data point 24 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 24 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 24 February 2010:

# U.S. new home sales plunged 11.2% to 306k in Jan, well below median 354k
# U.S. MBA mortgage market index fell 8.5%; purchases -7.3% and refis -8.9%
# Concerns grow over China's sale of U.S. bonds; fears for dollar carry trade future - FT
# Fed chief Ben Bernanke tells lawmakers the U.S. recovery cannot yet be considered self-sustaining.

...the SPX 500 hovers below the 50-day MA *1108 and the market still has to make a decisive move out of the deadlock one way or the other: up to *1120 (and then???) or down to *1070 (makes sense); so its too early to be definite about the up-coming move but looking at the index, a 5-month trading range almost equal on either side of *1100 smells like the market had it's top (anyway, that's what David Rosenberg thinks)

...important price levels for a market top is a Close below the Feb 11 Peak *1080 and a Close below the Feb 5 Low *1056 is needed to signal a market ready to push for new Lows

...most likely is a trading range between *1060/*1123 near term with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

www.lincolnfx.com: -data point 25 February 2010

www.invetrics.com:- data point 25 February 2010

(may adjust at market Open)

www.stocktiming.com: -data point 25 February 2009-

cash -data point 22 January 2010-

Trader Update -data point 25 February 2010:

...the SPX 500 gapped sharply lower but so far follow through action is tepid -no surprise after yesterday's institutional accumulation day-; the market trades close to the Feb 11 Peak *1080, the key level, if broken, would confirm the Feb 12 High *1112 as Top and signal deeper losses further out; a Close below the Feb 5 Low *1056 is needed to signal an imminent push for new Lows

...until *1056 is taken out, a trading range between *1060/*1112 near term is likely with high potential to break down to test the 200-day MA *1025 minimum

Long Term: THE BEAR

Kind Regards

[ananda77]

after close of market:

...buy program manipulation catapulted the market out of a trend which should have seen the fall of the *1080 level today; the first indication of such a move was yesterday's positve A/D ratio; as a result, the SPX 500 targets are now *1128/*1139/*1154 according to classic bear market 3-wave moves: A = *1044 - *1112; B = *1112 - *1086; and C = in progress with above targets;

...caution: a sharp move down that takes out *1092 would turn the market near term bearish again, while up-targets are confirmed with a Close above the 50-day MA

Kind Regards