...nice opposing ends of the spectrum -good for high volatility- (not that I think a few miserable dollars from my end will contribute);
...intrday the market did try a break-out at *1164 towards the end of the trading day and was sold off; if it happens again today, chances are the second attempt will succeed -minimum requirement for a second attempt is a market holding above March 11 Low *1138
ergo: between *1138 and *1164 the market is in Nowhere Land for a longer term decision but a nice set-up for a potential range trade based in the 1hr time frame
...Institutional Core Holding closing above secondary support ideally need confirmation before a challenge of primary support line
Trader Update -data point 12 May 2010:
...the SPX 500 so far trading higher inch by inch struggling for momentum and although internals paint a bullish picture the colours are tainted by an anaemic number of New Highs
neverthe less, the index trades above *1164 and there is still potential for a brief run-up to the April 28 Low *1182
however, further upside to a challenge of the Apr 29 High *1209 seems unlikely at this stage without a corrective shake-out to affirm the May 10 Low *1122 as a base for building more bullish bias
..looking ahead, the SPX 500 appears to be set in a large wedge between *1209 and *1100 potentially the summer trading algo
...institutional selling technically still in uptrend but in early reversal mode
1222 more likely now than 1122. Euro scenario bears likely to be trapped if they linger around. IMO we'll see 1300 this year, and probably sooner than many expect ...
1222 more likely now than 1122. Euro scenario bears likely to be trapped if they linger around. IMO we'll see 1300 this year, and probably sooner than many expect ...
Hi Beacon, agree with the year target (as long as the money printers keep their work ethics up) but wouldn't it be choclate to add at *1122 (stop *1090)
...Institutional Core Holding closing above secondary support ideally need confirmation for a stronger challenge of primary support line
Trader Update -data point 13 May 2010:
...the SPX 500 so far treadmilling with momentum on the wane; internals rather neutral with bearish tweeks
on a positive note, still trading above *1164 so there is still potential for a brief run-up to the April 28 Low *1182
however, further upside to a challenge of the Apr 29 High *1209 seems unlikely at this stage without a corrective shake-out to affirm the May 10 Low *1122 as a base for building more bullish bias into a summer rally
..looking ahead, the SPX 500 appears to be set in a large wedge between *1209 and *1100 potentially the summer trading algo
...institutional selling early accumulation -not trending-
chocolate is not good for health, and it is a slippery slope unless stemmed now. I thought you were happy with Hoop's 1150...
Staying away from choc desires personally, but wish you well. The market seems obliging, you might just get your wish...
...Institutional Core Holding closing above secondary support ideally need confirmation for a stronger challenge of primary support line
Trader Update -data point 14 May 2010:
...as expected, the SPX 500 plunged lower to intraday *1126 just above the May 10 Low *1122 amidst super bearish internals so far but trading markedly slowed and the index appears to be stabilizing
...if *1122 remains supported, trading needs to re-enter the May 7 High *1137/May 12 Low *1143 on a Close basis for confirmation of *1122 as floor and the base for a slow grind higher during summer into the year target zone *1300
...this bullish scenario crumbles on a sustained penetration of the *1090 level (-stop-)
...institutional selling early accumulation -not trending-
hi Ananda77 - I was reciprocating figuratively too. hope you got your fill ... now will you please let the northward journey begin. I am beginning to suffer ...
...Institutional Core Holding in confirmation mode -secondary support-
Trader Update -data point 17 May 2010:
...towards the end of Fridays trading, the NYSE Trin showed 3.06/3.03 which in the past have indicated exhaustion points
...although the SPX 500 index so far again traded down to intraday *1115, the March 4 Low just ticks below the longer term channel support, into an area that also features the 200-day MA support *1101, support holding in this range looks likely
...if so, trading needs to re-enter the May 7 High *1137/May 12 Low *1143 on a Close basis for confirmation of the *1101/*1115 as floor and the base for a slow grind higher during summer into the year target zone *1300
...this bullish scenario crumbles on a sustained penetration of the *1090 level (-stop-)
...institutional selling selling receding only slowly and institutions are still accumulating weakly if at all
...Institutional Core Holding in confirmation mode -secondary support-
Trader Update -data point 18 May 2010:
...the SPX 500 index opened higher to intraday *1149 but could not hold on to gains so far
...as a result, risks remain for the index to trade back into the March 4 Low *1115/200-day MA *1101 support zone for re-confirmation but based on improving internals, it is expected, that this zone is likely to remain supported
...if so, trading needs to re-enter the May 7 High *1137/May 12 Low *1143 on a Close basis for confirmation of the *1101/*1115 zone as floor and the base for a slow grind higher during summer into the year target zone *1300
...this bullish scenario crumbles on a sustained penetration of the *1090 level (-stop-)
...institutional selling selling receding only slowly, -sideways action-
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Originally Posted by arco
closing above secondary support ideally need confirmation before a challenge of primary support line
technically still in uptrend but in early reversal mode
closing above secondary support ideally need confirmation for a stronger challenge of primary support line 
early accumulation -not trending-
closing above secondary support ideally need confirmation for a stronger challenge of primary support line
early accumulation -not trending-
in confirmation mode -secondary support-
selling receding only slowly and institutions are still accumulating weakly if at all
in confirmation mode -secondary support-
selling receding only slowly, -sideways action- 
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