Daily S&P 500 INDEX TRACKER

[ananda77]

Trader Update -data point 02 February 2011-

...the SPX 500 moving closer to its apex end of February with risk of volatility increasing (chart on http://www.spx500dailyindextracker.blogspot.com)


...although institutions switched back to accumulation, the selling into strength up-trend remains (chart on http://www.spx500dailyindextracker.blogspot.com)

Note: caution condition remains in the the market until institutional selling changes to downtrend


...the SPX 500 trades modestly lower with no technical damage so far. Above daily trend line support *1292 and short term momentum support *1298, the market remains poised to head higher for a challenge of the August 2008 High *1313 and upper channel resistance current *1335 on the 6-month weekly trading set-up

Note: todays uptick power clearly indicates selling into strength with overall daily market internals tilting to bearish. This is not a look for a splendid new advance, but rather the look of topping out soon

..looking further ahead, the index appears to be heading all the way towards the *1420 measured objective in the longer term.
However, the current *1335 level on the 6-month weekly trading set-up coincides with the 75% retracement of the 2007_2009 break and may turn out to be another potential turning point for a bearish reversal towards the end of February
.
Kind Regards

[ananda77]

institutional accumulation is in a down trend since December 2010 and they started selling into stength since January 6. Ar present, both accumulation and distribution is at an inflection point and as a result, the market is flatlining for a third straight day so far

Trader Update -data point 04 February 2011-

...institutional accumulation improved further but remains in a technical downtrend started December 2010 (chart on http://www.spx500dailyindextracker.blogspot.com)

...VIX below 15.23 signals additional bullish upside potential (chart on http://www.spx500dailyindextracker.blogspot.com)

Note: Leadership ratio reading a low +1.72

...the SPX 500 continues flatlining and for the third straight day, daily market internals display a bearish tilt.

..,however, closing above the Jan 28 Peak *1303 leaves the door for additional gains open for a challenge of the August 2008 High *1313 and upper channel resistance current *1344 on the 6-month weekly trading set-up

...looking further ahead, the index appears to be heading all the way towards the *1420 measured objective in the longer term

...but the current *1344 level on the 6-month weekly trading set-up coincides with the 75% retracement of the 2007_2009 break and may turn out to be another potential turning point for a bearish reversal towards the end of February

Kind Regards

[ananda77]

...institutions in low level up-trending accumulation (chart on http://www.spx500dailyindextracker.blogspot.com)

...VIX below 15.23 signals additional bullish upside potential (chart on http://www.spx500dailyindextracker.blogspot.com)

Note: liquidity in high expansion territory with small downtick Friday. Leadership stock ratio a low +1.48 reading.

...the SPX 500 pushed higher today past the August 2008 High *1313 amidst supportive internals, leaving the bullish near-term outlook intact

...next on the list of possible new highs reads current *1328 momentum_*1332 upper channel resistance in the hourly trading set-up closing in fast on the 75% retrace of the 2007-2009 Break_*1347 upper channel resistance on the 6-month weekly trading set-up

Note: risk for a sharp pullback increasing near resistance levels

Kind Regards

[ananda77]

Trader Update -data point 08 February 2011-

...institutions increasing accumulation (chart on http://www.spx500dailyindextracker.blogspot.com)

...institutional 'Core' holdings pushing to extreme 4-sigma level (Bollinger 20.4.4) (chart on http://www.spx500dailyindextracker.blogspot.com)

Note: one way or another, balance is re-established over time

...the SPX 500 managed another 52-week High *1323 remaining comfortably above the August 2008 High *1313; above *1313, the bullish near-term outlook remains and signals further gains possible

...next on the list of possible new highs reads current *1337 upper channel resistance in the hourly trading set-up closing in fast on the 75% retrace of the 2007-2009 Break *1348_*1347 upper channel resistance on the 6-month weekly trading set-up

Note: risk for a sharp pullback increasing near resistance levels

Kind Regards

[ananda77]

Trader Update -data point 09 February 2011-

...institutions continued to accumulate yesterday; close to switch to technical uptrend; but (chart on http://www.spx500dailyindextracker.blogspot.com)

...intraday liquidity at extremel level; and (chart on http://www.spx500dailyindextracker.blogspot.com)

...'Core' holding pushing the 4-sigma level (Bollinger 20-4-4) (chart on http://www.spx500dailyindextracker.blogspot.com)


Note: long term liquidity in high expansion territory; leadership stock ratio a low +2.60 advantage to bulls


[ 67.1% hedged ]

...the SPX trades moderately lower to intraday Low *1317 on chunky down volume. Advance/Decline ratio 1:2 and uptick power off the August 2008 Peak *1313 area subdued so far. ;Above *1313, the bullish near-term outlook remains and signals further gains possible

......next on the list of possible new highs reads current *1341 upper channel resistance in the hourly trading set-up closing in fast on the 75% retrace of the 2007-2009 Break *1348_*1347 upper channel resistance on the 6-month weekly trading set-up

...on the flipside, a violation of *1313 would motivate the market to test the February 2 Low *1300 with potential further downside into the *1275/*1294 key support range

Kind Regards

[ananda77]

...institutions in accumulation with a test of the technical downtrend expected (chart on http://www.spx500dailyindextracker.blogspot.com)


- Long Term Trending Fed. Liquidity and Foreign Liquidity Inflows in high expansion territory


...VIX 15.69 Close Friday = above 15.23 support moving towards apex - leadership ratio reads a +2.03 low positive bullish advantage (chart on http://www.spx500dailyindextracker.blogspot.com)


...heading into option expirations week, the SPX 500 set a new intraday 52-week High *1332 so far, leaving the friendly tone for further advances intact

...chances are, the index will continue to head higher towards the 75% retrace of the 2007-2009 Break *1348_current *1354 upper channel resistance on the 6-month weekly trading set-up within the next couple of weeks

...however, despite the unbroken 'back-up the truck mentality' every time the market dips, closing in on overhead resistance levels, vulnerabilities increase for a sharp bearish breakdown

Note: basically think, the market about to sideways - up to target - then crack down

Kind Regards

[ananda77]

(no chart on http://www.spx500dailyindextracker.blogspot.com)

...the SPX 500 reversed lower in today's session for a test of *1325 short term trend line support and appears to switch into consolidation mode, with trading likely limited to range between:

February 14 High *1332_February 10 Low *1311

...above the February 10 Low *1311, the bullish bias remains intact to head higher towards the 75% retrace of the 2007-2009 Break *1348_current *1354 upper channel resistance on the 1-yr weekly trading set-up within the next couple of weeks

...a violation of the February 10 Low *1311 would signal weakness with view for a test of the *1303/*1294 key support range

Kind Regards

[ananda77]

Long Term Trading Environment:

-the SPX 500 remains in very strong bullish territory
-Long Term Trending Fed. Liquidity and Foreign Liquidity Inflows in High Expansion Territory
-Institutions in accumulation

Confirming Short Term Strength:

-C-RSI 9 above C-RSI 30

Trader Update - data point 16 February 2011 -

...the SPX 500 stong advance to a new 52-week High *1338 intraday got clobbered by geo-political Israel_Iran concerns, but losses have been limited. The index currently holds at the February High *1333

...holding *1333, the market will buid upside on strength and remains on track higher towards the 75% retrace of the 2007-2009 Break *1348_current *1354 upper channel resistance on the 1-yr weekly trading set-up within the next couple of weeks

...however, chances are, the consolidating stance will continue into op-ex Friday.with trading likely limited to range between:

February 16 High *1338_February 10 Low *1311

...at present, a Close below *1311 appears unlikely

Kind Regards

visit: http://www.spx500dailyindextracker.blogspot.com for morning session updates

[ananda77]

Long Term Trading Environment:

-the SPX 500 remains in very strong bullish territory
-Long Term Trending Fed. Liquidity and Foreign Liquidity Inflows in High Expansion Territory
-Institutions increasing accumulation

Confirming Short Term Strength:

-Leadership stock ratio higher, reading +2.78 advantage to bulls
-C-RSI 9 above C-RSI 30 _ C-RSI 4 above C-RSI 9

Trader Update - data point 17 February 2011 -

...obviously, it wasn't the majority of investors that got irritated by weak employment numbers and consequently headed for the exits in the opening session today. Fact is, in a financialized economy, falling employment is Wall Street's icing on the cake

...after opening the session down to intraday *1331, the SPX 500 currently pushing to knock the February 14 High *1338 flat with market internals constructive

...beyond *1338, the index will tack higher towards the 75% retrace of the 2007-2009 Break *1348_current *1363 upper channel resistance on the 1-yr weekly trading set-up

...however, as the index approaches key resistance in the 1-yr wk trade setup. the market becomes highly vulnerable to a bearish shake-out

Kind Regards

visit: http://www.spx500dailyindextracker.blogspot.com for morning session updates

[Phaedrus]