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No buy signal today as falling wedge forms.
Nothing clear on the up side until next week.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p30788145468&listNum=7&a=236330973
Daily and 60 show beginning of turn, It remains to be seen what kind of an up move will occur. It was stopped by former support at 1295 Thursday.
Daily
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p70209620379&a=235395228&listNum=7
60 min
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p86063059347&a=236330973&listNum=7
Using daily PPO 6,13,1 for market turns
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p78723311105&a=235395228&listNum=7
Using PPO 12,26,1 on 60 min
for turns
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p84629663878&a=236330973&listNum=7
Daily hitting bottom of fork. Tine for a rally :)
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p28891959838&listNum=7&a=235395228
Possible bearish megaphone pattern unfolding
with 1 rally left to go before the top.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=11&dy=0&id=p02910573016&a=215916755&listNum=13
(unsuccessful earlier post)
Thanks. I'm no candlestick expert and seldom
use them for decisions.
SPX 60 min no buy signal yet
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p84885350308&listNum=7&a=236330973
Possible tombstone doji today
although it closed lower than the open, so it may not qualify. But it could portend a reversal near. No buy signal yet.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p03055765447&listNum=7&a=228471642
SPX 60 min with $VIX:ROC indicator
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p78491903451&listNum=7&a=235394066
Interesting.
Two 60 min charts show support hit but
buy point nowhere near.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p58542150338&listNum=7&a=235394066
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p47626020964&a=236011684&listNum=7
BB PPO charts
A lot of what I end up with is the result of experimentation and getting “what if” questions that need answers. I sometimes adjust for change in time frame but lack consistency. If it looks funky, I adjust it. Although some of my charts resemble spaghetti thrown on the wall, I enjoy the creative process. I’ve also benefited from others’ posts; therefore, I hope mine can be mined for any bit of value one may find.
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&b=5&g=0&id=p85223743245&a=219016904&listNum=2
http://stockcharts.com/h-sc/ui?s=$SPX&p=30&b=5&g=0&id=p33472118276&a=219017339&listNum=2
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p41430274101&a=216204549&listNum=2
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p28462377856&a=218765677&listNum=2
http://stockcharts.com/h-sc/ui?s=$BKX&p=60&yr=0&mn=2&dy=0&id=p02716845758&a=218750537&listNum=2
Using the BB Width and PPO indicators
The BB width indicator on this chart appears to be signaling a narrowing BB. That would mean a rising SPX. This chart has both regular PPO and inverse PPO indicators. Both seem ready to turn. These indicators remain on a sell signal at Thursday’s close, but a clear buy signal could come soon. Just another tool in the box.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p66881927506&listNum=2&a=218766010
Just using the DMZ symbol as a metaphor for the market.
If you like standing in the DMZ with mine fields on either side.
At least the humidity is lower.
Target approx 1303, then bounce
If target breaks, larger drop.
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=2&dy=0&id=p09643488869&listNum=7&a=235394066
Stockchart not updating today Bias to the downside
Anyone else with updating problem?
The infamous SPX 10 min WOOFY2 chart
http://stockcharts.com/h-sc/ui?s=$SPX&p=10&yr=0&mn=3&dy=10&id=p96017618407&listNum=2&a=235923275
Daily buy 1225. Hit support at Wed's close
(see dotted yellow line). Longer term support just beneath at 1300 (solid yellow line). Major sell under 1300. The market has bounced off the dotted yellow line 3 times before. It may or may not hold here. Could be a solid base for rally at 1300 if that support line holds. Probably the dead cat bounces until employment report comes out Friday.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p91208870744&listNum=7&a=228471642
Weekly target 1222 if support breaks
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=6&dy=0&id=p53745340879&listNum=7&a=234928753
Aw, schucks
1329.31 on 60 min is line in sand
PS to last post
Another reason for caution is that the SPX may be making a 1-2-3 reversal pattern with 1 at 1311.80 for the low, today's close or 1350 as 2 (a lower high than 1370...bearish signal), and then 3 as a lower low below 1311 and taking out 1294 probably. Until this pattern is eliminated by a rally passing 1370, it must be considered. The indicators on the daily chart should guide, especially the $NYADV.
Although daily buy signals abound, I'm still cautious.
The SPX stopped exactly at the last high (see dotted line on chart) and at the down-sloping parallel trend red line (see chart). A close above today's close would signal the rally should continue for the next week. Positive end of month period may end and end the rally. Note buy dots on chart.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p39716507129&a=228471642&listNum=7
Bullfrog, see 40-day hourly on this chart
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1399335&cmd=show[s66968564]&disp=O
Caution
60 min SPX with BUY/SELL/Resistance points
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p23058582154&a=234417171&listNum=7
Looks like a 1,2,3,4,5 short-term move under way with pullback
when indicated on chart. Depth of pullback on daily posted below will indicate direction.
SPX rejected at daily resistance this morning.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p20995398673&a=228471642&listNum=7
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p34135895973&a=235395228&listNum=7
That resistance (this morning’s high) must hold or rally ensues.
Fundamentally, the essentially false positive sentiment regarding the Greek debt circumstances bled over into the US market. That debt situation is still out of control and reality will return. Also, a vote on US debt limits has been scheduled for after the markets close this afternoon (6:30 pm). That will be a factor to consider for Wednesday’s trading. I do not believe the next wave has begun, but that could be proven wrong if today’s high is built upon tomorrow. Today’s close (reversal?) and Wednesday’s open should prove to be very interesting.
Daily stopped at old neckline of
inverted H&S. Looks like drop probable to previous low (1249) to form a new lower neckline.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p52034796167&listNum=7&a=234456611
1319 on 60 min & 1310 on daily
look look like selling acceleration points if broken. Probably light volume Friday may mislead. Prefer daily to confirm 60.
60 min
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p93823118524&listNum=7&a=234417171
Daily setting up for rally next week?
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p67319021813&listNum=7&a=228471642
Not if 1310 doesn't hold.
Another bull flag forming?
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p91134851732&listNum=7&a=234456611
60 min on target
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=1&dy=0&id=p34341779935&listNum=7&a=234417171
Probably a couple days away from a clear buy signal unless things really deteriorate.
Weekly SPX chart for closer look.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=6&dy=0&id=p38892316280&a=234928753&listNum=7
QID ready to pop up. Monthly SPX will signal correction below 1325.
See chart with comments
http://stockcharts.com/h-sc/ui?s=$SPX&p=M&yr=10&mn=0&dy=0&id=p60229634168&listNum=7&a=234974047
Weekly SPX with indicators
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=1&mn=6&dy=0&id=p38892316280&listNum=7&a=234928753