S&P Updates

Radar/Market Update

June 1, 2012
By

The SPX has reached the upper area of the Wave 5 target at significant support:
1.  200-day MA
2.  October 2011 Intermediate-Term High
3.  ~50% Retracement of November 2011 – April 2012 rally
4.  38% Retracement of  October 2011 – April 2012 rally

Note:  2-minute chart has just given ATR buy, BUT no follow-thru yet:

SPX 2-Minute

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Radar/Market Update

May 31, 2012
By

Radar/Market Update – Market breaking down from bear flag.  SPX target 1250-1280:

Emini 135-Minute

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Followup – Market Update

May 22, 2012
By

SPX cash nearing upper channel and 38% retracement:

Radar – Market Update

May 21, 2012
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Radar – The SPX tagged the lower channel line on the close Friday as well as meeting an exact swing projection.  If this morning’s strength holds, we could see a wave 4 rally.  Also note the McClellan Oscillator is in oversold territory:

McClellan Oscillator

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Radar/Market Update

May 10, 2012
By

Bullish view: Inverse Head & Shoulders forming after large ABC correction ending with 5-wave pattern.

Bearish view:  Market consolidating below 50ma, ATR, and neckline; 5-wave downtrend could be initial wave of larger downtrend.

Radar/Market Update

April 25, 2012
By

Radar/Market Update – today’s high at exactly 50% retracement and into major resistance from previous hi/lows:

Radar/Market Update

April 23, 2012
By

Market breaking down from bear flag.  Target – 1330-1340 on SPX.

Int Term Target 1280-1300

1. 50% Retracement of December 2011 – April 2012 rally
2. 38% Retracement of October 2011 – April 2012 rally
3. 162% External swing projection
4. October intermediate-term highs
5. Median 7-11 % correction

SPX 55-Minute

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Radar/Followup – Market

April 10, 2012
By

Wave 5 of 5 of 5 in progress on 1 minute (see 30-minute for longer time frame):

SPX 30-Minute

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Radar/Market Update

April 10, 2012
By

The SPX is aproaching the important 1370 level:
1. 50 ma
2. Daily ATR
3. 2011 High
4. 62 % ret of 3/6-4/2 rally

It’s also now at an OS level, and the McClellan OSC is also approaching a level where short-term lows have been formed.  Given the significance of the 1370 level it should provide at least a short-term low in the market:

SPX Daily

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Radar – Market Update

April 4, 2012
By

Radar – Market Update – short and long-term channel support at 1394.5:

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