Daily S&P 500 INDEX TRACKER

[ananda77]

Trader Update - data point 01 March 2011 -

Trading Environment:

-SPX 500 remains in Up-condition with positive C-RSI 12.38 strength
-Institutions increasing accumulation
-Long Term Trending Fed- and Foreign net-Liquidity Inflows with an uptick in high expansion territory
-VIX Close 18.35 signals positive market bias
-New Lows: 13 remain below danger 26-zone
-Leadership stock ratio: +1.20 building positive bullish advantage

Confirming weakness:

-C-RSI 9 below C-RSI 30 _ C-RSI 4 below C-RSI 9
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-

Today's session:

...the SPX 500 extended briefly its reach towards the February 18 Peak *1344 with an intraday High *1332 at the Open but stalled under selling pressure

...like at yesterday's *1329, the index signals weakness below today's *1332 with risk increasing for a subsequent down draft that would target lower channel support current *1292 in the dly. 6-mth. trading setup_February 1 Low *1286_ potential to spike down to January 30 High *1275

...a successful defense of *1292/ *1286/*1275 should provide the foundation for another rally into June with upper channel resistance current *1379 in the dly. 6-mth. trading setup; potential to reach out to hit a *1420 measured objective

...on the flip side, a Close above *1332 will set the index up for a re-test of the February 18 Peak *1344 before risks of downturn are again high

Kind Regards

[ananda77]

Trader Update - data point 02 March 2011 -

Trading Environment:

-SPX 500 remains in Up-condition with positive C-RSI 30 +5.97 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'weakening' in high expansion territory
-New Lows: 15 remain below danger 26-zone
-Leadership stock ratio: +0.28 positive bullish advantage

Confirming weakness:

-C-RSI 9 below C-RSI 30 _ C-RSI 4 below C-RSI 9
-VIX Close 21.01 above 20 resistance signals increasing market stress_D/Vol sideways conflict
-Institutions in low Distribution (close to test bull market support in 'Core') (chart on http://www.spx500dailyindextracker.blogspot.com)
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-

Caution: SPX 500 up-condition in danger

Today's Session:

...the SPX 500 trading in positive territory to intraday High *1314 just above the August 2008 Peak *1313. The market so far manages to consolidate some of yesterday's losses above short term *1303 support, but selling into strength appears in today's internals at present

...above short term *1303 support, the current bounce appears determined enough to test the February 27 High *1319_February 23 High *1322_*1325 congestion before exhaustion sets in

...however, below March 1 High *1332, risk is high for a subsequent down draft that would target lower channel support current *1292 in the dly. 6-mth. trading setup_February 1 Low *1286_ potential to spike down to January 30 High *1275

...a successful defense of *1292/ *1286/*1275 should provide the foundation for another rally into June with upper channel resistance current *1379 in the dly. 6-mth. trading setup; potential to reach out to hit a *1420 measured objective

...on the flipside, a surprise Close above *1332 will set the index up for a re-test of the February 18 Peak *1344 before risks of a downturn are again high

Kind Regards

[ananda77]

Trader Update - data point 03 March 2011 -

Trading Environment:

-SPX 500 remains in Up-condition with positive C-RSI 30 +6,55 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows at 'weakened level' in high expansion territory
-New Lows: 17 remain below danger 26-zone
-Leadership stock ratio: +0.37 positive bullish advantage

Confirming weakness:

-C-RSI 9 below C-RSI 30 _ C-RSI 4 below C-RSI 9
-VIX Close 20.07 above 20 resistance signals increasing market stress with D/Vol sideways conflict
-Institutions neutral (chart on http://www.spx500dailyindextracker.blogspot.com) and (0.91% to bull market support in 'Core')
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-

Caution: SPX 500 up-condition at elevated risk level

Today's Session:

...the SPX 500 added more power to its bounce up from the February 25 Low *1294 and currently trades above the February 27 High *1319_February 23 High *1322_*1325 congestion, within striking distance of the March 1 High *1332

...below March 1 High *1332, risk remain for a subsequent down draft that would target lower channel support current *1294 in the dly. 6-mth. trading setup_February 1 Low *1286_ potential to spike down to January 30 High *1275

...a successful defense of *1294/ *1286/*1275 should provide the foundation for another rally into June with upper channel resistance current *1379 in the dly. 6-mth. trading setup; potential to reach out to hit a *1420 measured objective

...on the flip side, trading above *1332 will set the index up for a re-test of the February 18 Peak *1344 before risks of downturn are increasing again

Kind Regards

Update Session End:

...today's power rally confirms the February 24 Low *1294 as a bottom and the index is likely to follow through higher for a re-test of the February 18 Peak *1344 before risks of downturn are increasing again
A Close above the *1344 level introduces the potential for more upside targeting upper channel resistance current *1380 on the dly. 6-mth trading set-up with scope to reach towards the *1400 psych barrier coinciding with upper channel resistance in the 1yr. dly. trading setup

...however given the volatile trading environment and elevated risk of an exogenous shock out of North Africa and the Middle East, a consolidation between *1294/*1344 appears logical until the February 18 Peak eats dust

Kind Regards

[Phaedrus]

[ananda77]

Trader Update - data point 04 March 2011-

Trading Environment:

-SPX 500 remains in Up-condition with positive C-RSI 30 +10.87 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'uptick' in high expansion territory
-Institutions switch to accumulate from neutral, potential for new uptrend (chart on http://www.spx500dailyindextracker.blogspot.com)
-New Lows: 4 remain below danger 26-zone
-Leadership stock ratio: +1.65 positive bullish advantage
-VIX 18.60 below 20 current market stress level

Confirming weakness:

-C-RSI 9 below C-RSI 30 _ C-RSI
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-

Todays' Session

...the SPX 500 gapped down at the Open to test short term support *1320 but upticks above support were indecisive. Consequently, the index dived further to have a go at the August 2008 Peak support *1313, currently holding

...as expected in yesterday's update, the market appears to have to do more consolidating work between the lower channel support current *1295 on the dly. 6-mth trading setup and the February 18 Peak *1344 before a bullish break-out can occur

...given the volatile trading (reversal-reversal-reversal) environment and elevated risk of an exogenous shock out of North Africa and the Middle East, a top may be already in place, but needs to be confirmed with a decisive break below *1294

Kind Regards

[ananda77]

Trader Update - 09 March 2011 -
Today's Session:

...for now, the SPX 500 remains rangebound within the triangles *1303/*1332 parameters,currently in an attempt to reach out to the *1332 resistance level

...failing again at resistance adds another layer of risk for a repeated sell-off with margins to the downside increasing to include lower channel support current *1296 in the dly. 6-mth. frame_the January 31 High *1287

...as institutions undecidedly moving in and out of accumulation/distribution and a VIX Close 20.66 pushing the market back into the stress zone. the sideways movement of D/Vol and a positive 20 New Lows (below the danger 26 level) reading suggests, the market may continue to consolidate

...Watch out for a decisive break below the February 24 Low *1294_the January 31 High *1287

Kind Regards

[ananda77]

Trader Update - 09 March 2011 -

Trading Environment:

-SPX 500 range bound_currently reach out to *1330 resistance (chart on http://www.spx500dailyindextracker.blogspot.com)
-New Lows: 10 - below danger 26-zone - below panic zone 50 (+)
-SPX 500 in Up-condition_ C-RSI 30 +7.78 strength
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'uptick' in high expansion territory
-Leadership stock ratio: +0.97 bullish advantage
-VIX 19.82 (current market stress level: 20) _ D/Vol sideways _ New Lows 10

Confirming weakness:

-C-RSI 9 below C-RSI 30
-institutions undecided in/out of accumulation/distribution
-U.S. Dollar holding major support
-the Saudi 'Day of Rage' proposed at March 11 -a potential negative spike event ahead-

Caution: USD -test _ March 11 Saudi 'Day of Rage' to be resolved this week

Today's Session:

...the SPX 500 recovered quickly from intraday Low *1312, but so far trades little changed from yesterday. The index appears range bound within the triangles *1303/*1332 parameter (the March 2 Low *1303_the Mar 3 Peak *1332)

...failing again at resistance would add another layer of risk for a repeated sell-off with margins to the downside increasing to include lower channel support current *1296 in the dly. 6-mth. frame_the January 31 High *1287

...while institutions are sitting on the fence, ready to jump either way, the market will have to do with range bound until resolved

Kind Regards

[Pumice]

I suspect a red bar is in the making?

[Phaedrus]

[Entrep]

"Still green"