Daily S&P 500 INDEX TRACKER

[ananda77]

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

(may adjust at market Open)

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

...Institutional Core Holding ...trading above primary support line

Trader Update -data point 11 April 2010:

...the SPX 500 established a new 19-month High *1198 with low volume, unconvincing market internals and uninspiring lully as the market awaits the Alcoa result
...however, there is little reason to expect the market to stall just short of the *1200-mark and it is expected targeting higher into channel resistance ranging in the *1205/*1226/(ultimately *1266) area

Long Term: THE BEAR

Kind Regards

[ananda77]

www.invetrics.com:- data point 13 April 2010

(may adjust at market Open)

www.stocktiming.com: -data point 13 April 2009-

...Institutional Core Holding ...trading above primary support line nearing upper channel resistance

Trader Update -data point 13 April 2010:

...the SPX 500 tested trendline support at *1189 after yesterdays new 19-month High *1198; although the index moved up from support and institutions are accumulating these moves remain less than convincing at this stage with upper channel resistance on the Core Index overhead and market internals remaining unsupportive (A/D 1:14 negative for the last trading hour, volume trending down, new highs trending down)
...however, chances are for an 'against all odds' market to pass the *1200-mark and past *1200, it is expected targeting higher into channel resistance ranging in the *1205/*1226/(ultimately *1266) area -not for me though my friends as I am building protection for a fully invested portfolio-

Long Term: THE BEAR

Kind Regards

[ananda77]

...for the fans of Fib-numbers

the SPX 500 *1228 level represents the 61.8% retracement fom the March 2009 Low and this level may act as the starting point for an overdue correction
...however, would not be surprised one bit to see the index power higher into the current *1233/ultimate *1272 range by month end

Kind Regards

[Phaedrus]

The SPX 500 *1228 level represents the 61.8% retracement fom the March 2009 Low and this level may act as the starting point for an overdue correction..... however, would not be surprised one bit to see the index power higher....

That should just about cover it!!!

Tomorrow will be a fine day....if it doesn't rain!

[ananda77]

That should just about cover it!!!

Tomorrow will be a fine day....if it doesn't rain!

...that's right Phaedrus and do not forget the umbrella even if it's a nice day...

Kind Regards

[ananda77]

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

(may adjust at market Open)

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

...Institutional Core Holding ...trading above primary support line and upper channel resistance

Trader Update -data point 15 April 2010:

...so far, the SPX 500 extended the rally to a new 19-month High *1214 today and continues to flatline; looking at institutional selling activity they are accumulating but at the same time, the sell level compared to the NYSE up-level is higher suggesting a selling into strength strategy; market breadth is mildly negative with NYSE uptick power virtually non-existent
-this deterioration in internals is a strong WARNING (not an indication of an imminent reversal) unless the index tracks down below *1207

-Tip of the Day: Cheap umbrellas are available for $5 at the South Auckland weekend markets-

...as a consequence, the index remains on track to potentially trade into the *1228/*1234/*1272 range towards the end of the month unless the April 14 Congestion *1207 eats dust near term

...any more serious corrective drive towards lower levels will be confirmed if the April 8 Low *1175 is penetrated ideally on a Close basis

Long Term: THE BEAR

Kind Regards

[Hoop]

........the SPX 500 *1228 level represents the 61.8% retracement fom the March 2009 Low and this level may act as the starting point for an overdue correction
...however, would not be surprised one bit to see the index power higher into the current *1233/ultimate *1272 range by month end

Kind Regards

Using TA Targeting the next Cyclic Bull Market correction due point is 1330.

Yes this is simple science but from history, cyclic bull market corrections tend to occur in an orderly fashion....occasionally one gets caught out... as what happened over the Xmas 2009 with the All Ords when a bull trap created a double dip correction but these are rare occurrences.

[ananda77]

Hi Hoop,

...would you be happy with some juicy pullbacks along the way??

Kind Regards

[Hoop]

Hi Hoop,

...would you be happy with some juicy pullbacks along the way??

Kind Regards

Yeah why not ... a bit in it for everybody ..keeps everyone happy then doesn't it?

A pull back to test the 1150 support juicy enough for the bear investors Ananda ?

[ananda77]

...the SPX 500 stalled beneath April 15 High *1214 penetrated *1207 and subsequently plunged towards the March 25 High *1181/March 8 Low *1175 congestion before recovering; as long as the *1181/*1175 range remains supported, the index will continue its slow grind higher into the current *1228/*1232/*1272 range

...Penetration of the April 8 Low *1175 ideally on a Close basis should confirm that a deeper shakeout is getting underway

...bit of SPX 500 update history for week ending 18 April 2010:

-8 April 2010: ...since the Russell 2000 April 6 High *702.9 (701.5 exact), but its far too early to call in a trend reversal, rather -best guess and positioned accordingly-

-SPX 500 long in the *1149/1152 range or

-Russell 2000 short in the *712/*733 range

-14 April 2010: ...although the index moved up from support and institutions are accumulating these moves remain less than convincing at this stage with upper channel resistance on the Core Index overhead and market internals remaining unsupportive (A/D 1:14 negative for the last trading hour, volume trending down, new highs trending down)
-not for me though my friends as I am building protection for a fully invested portfolio-

-16 April 2010; ...as a consequence, the index remains on track to potentially trade into the *1228/*1234/*1272 range towards the end of the month unless the April 14 Congestion *1207 eats dust near term

Kind Regards