Daily S&P 500 INDEX TRACKER

[ananda77]

Trader Update -data point 27 September 2011-

Trader Update:

Hedged *1378

...the index remains comfortably above the September 6 Low *1136 support - gaining additional strength above the short term weekly trendline current *1148 and the September 22 Congestion High *1158 - currently trading within striking distance of the September 9 High *1194

...above the short term weekly trendline current *1148, the market will aim to take out the overhead resistance formation ranging from the September 9 High *1194 to the August 31 High *1230 to push higher into the June Low *1258

Kind Regards

[ananda77]

Trader Update -data point 27 September 2011-

SPX 500 Chart: http://www.spx500dailyindextracker.blogspot.com

Trader Update:

Hedged *1378

...unfortunately, the market could not follow up on yesterdays's gains and peaked at the September 27 High *1196 - the September 22 Congestion High *1158 and *1148 support are now at risk

,,,a violation or a Close below the September 22 Congestion High *1158 and *1148 support will likely accelerate moves to the downside with the *1100 Psych barrier as target - high risk to stretch lower towards the August 27 2010 High *1066

...however, above the September 22 Congestion High *1158 and *1148 support the market will aim to take out the overhead resistance formation ranging from the September 9 High *1194 to the August 31 High *1230 to push higher into the June Low *1258


Kind Regards

[ananda77]

Trader Update -data point 30 September 2011-

chart Institutional Core Holding http://www.spx500dailyindextracker.blogspot.com


...the market internals still need to improve but while sentiment remains negative, institutional core holding displays a double bottom

Kind Regards

[ananda77]

That's a good thing, right?

... yes, if the market continues to built positive momentum (consolidates above *1103) expect the 3. bull leg up...the bull market can not be written off just yet

Kind Regards

[ananda77]

Trader Update -data point 30 September 2011-

chart Institutional Core Holding http://www.spx500dailyindextracker.blogspot.com

...the market internals still need to improve but while sentiment remains negative, institutional core holding displays a double bottom

Kind Regards

...the SPX 500 so far holding *1148 support suggesting continuing consolidation and potential for more upside to test short term trendline resistance current *1162

...failing below *1162, price action will likely accelerate to the downside for a test of the *1100 Psych barrier with high risk to stretch lower towards the August 27 2010 High *1066

Kind Regards

[winner69]

Interesting that the S&P is within a just a few notches of where we were exactly one year ago .... and we all know what happened after that ... but, of course, this time its different ...

you are so right Belg

And also just a notch away from where we were 13 years ago ..... and 10 years ago ..... and 7 years ago ..... and 3 years ago

And we know what happened then .... but this it is different eh

[Hoop]

Interesting that the S&P is within a just a few notches of where we were exactly one year ago .... and we all know what happened after that ... but, of course, this time its different ...

Yes Belg...beware of the Secular Rabbit..

[ananda77]

Trader Update -data point 3 October 2011-

monthly SPX 500 chart http://www.spx500dailyindextracker.blogspot.com

Trader Update:

Hedged *1378

...with market internals a sea of red and sentiment at extreme Lows, the SPX 500 *1103 bull/bear battle in full swing

...prepare to bungi jump on a Close below *1103 - other than that a mild intraday violation is acceptable - and yes there are those bear traps to consider

...not being caught in the middle may be the correct strategy here - or risk a long Trade with a sensible stop

Kind Regards

[Hoop]

13th September 2011
Hi Entrep
It seems we all have different views chartwise...eh.....who said drawing chart lines was easy

My chart below started off simple but I have managed to complicate it to reinforce my bearish view.

My easy answer is "It's Ugly.

The chart below shows that the small 1120 support has become an extremely important level...if it breaks you can kiss your investor arse goodbye.

My view is bearish because
....1120 is a weak support level it had a little influence during the bull correction in the June 2010 then August 2010 but nothing to speak of before that.

....When Bollinger Bands squeeze up (purple arrows) they indicate a change of trend momentum often a reverse trend

....The Volume shows a possible concave trend occurring indicating another increase in volume in the near future ,,,more chance it being a sell volume increase and especially so if the 1120 support fails.

....I normally don't get too hung up on primary trend lines breaking because they do during some bull market corrections...however the S&P 500 broke a support level level as well as followed the leaders ASX Europe Asia markets down.

....I added the 30yr treasury bonds as well ..the yield fall shows money flowing towards them (a perceived safe haven) This flow of money out of the Equity Markets causes those markets to lose momentum. The last time they were this low was late January 2009 during the last phase of the bear... the capitulation phase.

....S&P500 as well as many other indexes are technically broken. The S&P has to have a big climb to get out of this bear hole...Above the orange 1280 level....a big ask atm.

All bad news today...1120 broken .....trading target is 1000 = 1220-(1340-1120) ....there is strong support at 1050 so perhaps the fall may arrest that that point.

Below 1050 support is the primary support at 1022 if it drops below this point the S&P500 will technically go from a bear tide to confirm a cyclic bear market,
Since the S&P 500 seems to be lagging other countries share markets who have already confirmed their cyclic bear market cycle it seems "odds on" the American markets will follow at sometime in the near future.

updated #1023 chart

[peat]

yeh I agree Hoop
referring back to my maroon support resistance lines and I set this level a while back

then
Attachment 3634


now
Attachment 3635