1/02 update -- daily support 2499/2492 resistance 2515/2521.
The 2520 level has been a solid wall to advancing so daily supports are now critical.
The 2346 level has to hold or the market drops below 1810 with 1600 easily achieved.
New month and Quarter table --
4th Quarter saw the high and low of 2018. January has above 2600 bullish and below 2460 bearish. Year and qtr have above 2680 bullish below 2470 bearish, so January trading is critical.
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Larry Tomlinson @mrktlarry 31 Dec 2018
12/31 update --
Friday approached 2520 and sold off, today we may see another try at 2520 to 2531 resistance.
Weekly resistance 2539/2581 support 2432/2391,
Daily resistance 2500/2512 support 2471/2460.
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Sunday December 29th --
$SPX 2534 = the daily 200,2 lower Bollinger Band value, at this moment -- potential future resistance above this week's bounce highs
2529 = the 600-day simple moving average -- potential resistance for future bounces
$SPX daily closes chart link, with internals for 4 indices -
2520 is Larry's major bull/bear horizontal line above the current price action as of December 28, 2018 --
Larry Tomlinson @mrktlarry 4 hours ago
12/28 update, short term if $SPX 2531 is traded above that is a good indication we have a low and party on in 2019.
IF 2520 is NOT traded above AND 2250 is achieved THEN we take out the 1810 low of 2016 and quickly and continue the bear market.
Larry Tomlinson @mrktlarry Dec 27
12/27 update, due to extreme volatility projections are useless until it calms down.
Two levels to monitor, 2250 support and 2603.54.
IF 2603.54 is traded above we have a low and 3000/3200 still favored.
NOT advancing above 2524 THEN dropping to 2250 we have a top and a major bear market.
Dec 24
12/24 update, Weekly resistance 2476/2522 support 2357/2312, daily resistance 2446/2469 support 2387/2364.
Price must return above 2480 this week or it will continue toward 2250 area before any significant bounce.
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Ralph Acampora CMT @Ralph_Acampora 2 hours ago -- December 28, 2018
"Vacuum Rally", Part II: The current oversold rally now has the potential to carry unfettered back to its overhead supply in the Down 24,200/25,000 area - thus, filling in the 'space or vacuum' and taking the overall market out of its near-term oversold condition.
"Vacuum Rally", Part I: On Dec. 17th the Dow accelerated to the downside in a virtual free-fall that took it to an intraday low of 21,712.53 on Dec. 26th.
In the process it left a 'vacuum or space' below overhead resistance now in the 24,200/25,000 area.
Ralph Acampora CMT @Ralph_Acampora Dec 27
Market, Part III: In order to say for sure that we've witnessed the final low, I want to see a successful re-test of yesterday's low on heavy volume. Thus, it is too early to say that the current bear market is over. Be very selective.
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$SPX daily since 2016 with 50,3 Bollinger Bands applied to the $SPX XLK XLF XLY symbols on the chart -
* $SPX potential resistance must be overcome on a permanent basis OR a future decline will take place again:
at the 600-day sma and at the 15-day sma
* bears remain in firm control in the intermediate-term, while --
the S&P 500 index net Advance-Decline breadth line and the net Advance-Decline volume line remain below their daily 50,2 lower Bollinger Band shown on this chart OR while below their 50-day simple moving average
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