Daily S&P 500 INDEX TRACKER

[peat]

those Americans sure know how to buy stuff.... do you think they can pay up? ;+)

[ananda77]

those Americans sure know how to buy stuff.... do you think they can pay up? ;+)

...the market is extremely Extended, which is of course no guarantee that it will tank tomorrow -still over a week to next Friday's option expiration- but if an extended market tanks, it's always most dramatic and too late for anyone net long in there

...I am very sure, they (insiders) would love to keep the Call Option Premium, they sold for March expiration..............and a market ready for tanking???? ......and the SPX 500 target *1200 will not be harmed with a drop to the *1095/*1085 area!!!!

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 10 March 2010

www.invetrics.com:- data point 10 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 10 March 2009-

...up-condition -data point 02 March 2010-

Trader Update -data point 10 March 2010:

...volume spiking in yesterday's outside day sell-off; today, once again, the SPX 500 slowly creeping upward towards the *1151 mark on low volume but an imminent sell-off to affirm the March 3 Low *1117 near term still cannot be ruled out
...a drop below March 3 Low *1116 would indicate bearish sentiment returning

Long Term: THE BEAR

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 11 March 2010

www.invetrics.com:- data point 11 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 11 March 2009-

...up-condition -data point 02 March 2010-

Trader Update -data point 11 March 2010:

...the SPX 500 respected the daily support *1138 and continues to consolidate below the Jan 11 Peak *1151 ready for another advance to challenge near term upper resistance channel current *1156 with potential to reach out to yearly trendline resistance current *1174 before a possible bearish reversal would test the *1117 pivot point to work off an extremely extended market
...a drop below March 3 Low *1116 would indicate bearish sentiment returning

Long Term: THE BEAR

[arco]

.
I mentioned on the 4th “potential building for printing an Evening Star, although still 18 hours before candle end a more confirmation needed to be totally sure that a top is in.”
The Evening Star pattern did not complete as you can see in the diagram below - invalidating the Purple Trace. It always pays to wait for the completion of any candle pattern before considering a position. As you see once the candle closed it gave a completely different (bullish) picture with also an Ichimoku buy signal appearing – all 3 elements confirming (yellow spots).

[ananda77]

.
I mentioned on the 4th “potential building for printing an Evening Star, although still 18 hours before candle end a more confirmation needed to be totally sure that a top is in.”
The Evening Star pattern did not complete as you can see in the diagram below - invalidating the Purple Trace. It always pays to wait for the completion of any candle pattern before considering a position. As you see once the candle closed it gave a completely different (bullish) picture with also an Ichimoku buy signal appearing – all 3 elements confirming (yellow spots).

...thanks for updating and yes this new chsrt looks more like the current scenario play although, a surprise dive to SPX 500 *1117 still potentially possible at any time now

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 12 March 2010

www.invetrics.com:- data point 12 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 12 March 2009-

...up-condition with duress warning (overbought) -data point 02 March 2010-

Trader Update -data point 12 March 2010:

...the SPX 500 started trading with a new 17-month High *1153 followed by profit taking, later recovering to another High *1156 followed by more profit taking; institutional index core holdings right under the primary support line and the NYSE algorithm features extremely overbought; furthermore, market breadth still positive but extremely low volume puts a more bearish stamp on it as it is more likely that institutions were sellers in today's market

...time to take some profit possibly down to *1117 before the next advance (keep in mind the option trade for upcoming option expiry Friday March 19)

...March 3 *1117 is the SPX 500 pivot point


Long Term: THE BEAR

Kind Regards

[arco]

Hi Ananda. Yes, somewhere around the yellow box above the recent action may be an area to consider for reversal

[ananda77]

...found this analysis on the net recently:

" since March 2009 this market (the SPX 500) has never done what it has always done in the past 60 years;

the market is now 51 weeks at all time historic overbought with no indication stocks above the 200 day moving average will ever again drop to normal oversold; the market sure looks like in a parabolic blow-off toward SPX 500 *2000/*3000;

if March down cycle projected High *1107 is not taken out this month, odds are, the parabolic blow off pattern is in play = no correction more than 23% since March 2009 Low -one 38% correction followed by the final blow off straight up to the exhaustion top and usually advance more than 100% to as much as 250%

the bad news is, a parabolic blow off only happens at the very end of a society "

...the current path: sell-off 38% to as far as March 09 Low funny number *666 from anywhere at any time now (the dive depending on the starting number of the sell-off) then straight up to the SPX 500 *2000/*3000 level

---funds are down to an average 3.6 % cash level
---complacency/bullish sentiment on FULL LULL/BLOWN UP
---insiders getting more and more desperate to sell a fundamentally ****ed-up story
---where's the cash for another substantial advance going to come from (guess not from the MAMMAS and PAPAS)

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 15 March 2010

www.invetrics.com:- data point 15 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 15 March 2009-

...up-condition with duress warning (overbought) -data point 02 March 2010-

Trader Update -data point 15 March 2010:

...while the NYSE algorithm moved to extreme oversold, institutions sold the rallies last Friday as expected setting the tone for today's decline; the SPX 500 trades slightly lower today after Firday's new 17-month High *1153 but until the FOMC meeting is over, the market could remain in consolidation around current levels; one fact however strikes in regards to market internals: a slight increase in the number of new lows

...as a consquence, the market could still be set for another drive higher into the upper short term resistance current *1165 following a positive Fed announcement -exeptional low/extended period- but this drive higher could be abruptlly stopped by a classic 'sell the fact' move out of the extremely overbought levels to affirm the Mar 3 Low *1117 (-)

...March 3 *1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards