Daily S&P 500 INDEX TRACKER

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 16 March 2010

www.invetrics.com:- data point 16 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 16 March 2009-

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

Trader Update -data point 16 March 2010:

...the SPX 500 traded to a new 17-month High *1158 but selling has become apparent after the Fed announcement and the rally is likely to be unsustainable; a bearish reversal would target the the Mar 3 Low *1117 initially

...expecting a successful *1117 defense, another SPX 500 advance would take out today's High *1158 and surge higher towards yearly trendline resistance current *1175 before a potential deeper correction would occur

*1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards

[Phaedrus]

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 16 March 2010

www.invetrics.com:- data point 16 March 2010

(may adjust at market Open)

www.stocktiming.com: -data point 16 March 2009-

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

Trader Update -data point 16 March 2010:

...the SPX 500 traded to a new 17-month High *1158 but selling has become apparent after the Fed announcement and the rally is likely to be unsustainable; a bearish reversal would target the the Mar 3 Low *1117 initially

...expecting a successful *1117 defense, another SPX 500 advance would take out today's High *1158 and surge higher towards yearly trendline resistance current *1175 before a potential deeper correction would occur

*1117 remains the SPX 500 pivot point

after market Close: the SPX 500 broke out of a 5-month sideways trading range (+/- 50 either side of *1100) and could surge now higher into yearly trendline resistance current *1175 (+);

BE AWARE: Market Tops happen in overbought territory and this market is now extremely extended

Long Term: THE BEAR

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 17 March 2010

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

(may adjust at market Open)

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

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

Trader Update -data point 17 March 2010:

...the SPX 500 traded to a new intraday 17-month High *1170 with broad market support and a Close above *1165 would bode well for an intermediate SPX 500 target in the *1200 area; in the near term however, the *1171/*1175 range needs to be penetrated initially;

...ithe market is extremely extended; the put/call ratio stood at 0.54 yesterday and the %SPX 500-stocks above the 50-day MA stood above 85%, making a long call on the market a high risk affair

BE AWARE: this market is now extremely extended

*1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 18 March 2010

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

(may adjust at market Open)

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

...Institutional Core Holding -The Institutional Index is now +0.27% above its "double top" resistance.

Trader Update -data point 18 March 2010:

...so far, the SPX 500 has been unable to trade above yesterday's new 17-month High *1170 and is moderately lower today downticking in a trickle; the 12 March Congestion *1157/*1160 is today's support and likely to hold into 19 March option expiration with a potential to challenge yearly trendline resistance current *1176 tomorrow;

-the put/call ratio stood at 0.52 yesterday
-the %SPX 500-stocks above the 50-day MA stood above 88%, making a long call on the market a high risk affair
-selling is slightly above buying on higher down volume
-institutional buying has weakened over a weekly period while selling spiked higher on Monday
-inflowing liquidity has been very positive but it's not institutions buying this market

BE AWARE: this market is now extremely extended

*1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards

[ananda77]

-the equities olny p/c-ratio *0.51
-the %SPX 500 stocks above the 50-day MA *89 %

...the SPX 500 staled beneath the 17-month High set Wed *1170 this morning and plunged to intraday 12 March Congestion support *1157 before stabilizing temporarily so far; penetration of *1157 should trigger follow-through action down to March 3 Low *1117 pivot

...a successful *1117 defense would clear the extremely overbought condition and motivate the market to surge higher towards yearly trendline resistance current *1176 (+)

Long Term: THE BEAR

Kind Regards

[arco]

Action arrived at yellow box for circa 20 points which is equivalent to $5000 on one full contract, or $1000 profit on one e-mini contract

[ananda77]

...the SPX 500 penetrated support *1157 Intraday down to *1155 and closed at intraday Congestion *1160 - the SPX 500 Hedge shows a tentative top down to trendline support *1120 (daily)/*1130 (weekly):

...volume increase

...institutional selling !caution!

...NYSE algorithm rolling over

...equity only p/c-ration 0.51

...%SPX 500 stocks above 50-day MA = 89% Thursday

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 22 March 2010

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

(may adjust at market Open)

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

...Institutional Core Holding ...testing primary support

Trader Update -data point 22 March 2010:

...the SPX 500 tested Break-Out support *1151 successfully establishing intraday Low *1153 as a near term floor; as a result, the index continues its bullish path and any bearish action needs to take out the *1153 on a Close basis

...the next bullish near term targets:

-intermediate trendline resistance *1177
-near term upper channel resistance in the current *1183/*1187 range
-longer term upper channel resistance current *1217/*1255


...institutional selling spiked Friday, the NYSE algorithm rolled; as a result -SELL-STOP PROTECTION and NO LONG POSITION as long as primary support in the institutional core index remains unsupported...
...checking internals, as mentioned earlier, the number of new lows creeping up stealthily

*1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards

[ananda77]

Advancing FX-Trading >>> www.lincolnfx.com: -data point 23 March 2010

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

(may adjust at market Open)

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

...Institutional Core Holding ...back at resistance line/testing primary support

Trader Update -data point 23 March 2010:

...the SPX 500 appears to consolidate between intraday Low *1164 and intraday High *1170 so far in balanced trading; the institutional index moved back to the primary resistance line, institutional selling still quite elevated and the NYSE algorithm in positive territory but rolling over; the index appears to remain set on its bullish path, but the market could go for another test of *1153 support before the break-out, if successful

...the next bullish near term targets:

-intermediate trendline resistance *1177
-near term upper channel resistance in the current *1183/*1187 range
-longer term upper channel resistance current *1217/*1255

as a result -SELL-STOP PROTECTION and NO LONG POSITION as long as primary support in the institutional core index remains unsupported...

*1117 remains the SPX 500 pivot point

Long Term: THE BEAR

Kind Regards