hello RCKS, this is a cut & paste of my email to the private group using the Google Groups server that I moderate --
<trading-ideas> $2819.75 = /ES futures Globex high, March 3/4, 2019 - printed near the Sunday open
March 4, 2019, 5:10 AM
$2819.75 is the /ES futures Globex high, March 3/4, 2019 - printed near the Sunday open
(see the summary at the end of this email of the 2nd half 2018 /ES price action key decline lows which now in 2019 must be surpassed on a lasting basis to confirm the current multi-week advance has a high probability for further upside staying power)
shown below is the SPY daily chart displaying potentially negative setup by Carl Swenlin's A-D breadth & volume oscillators -- as the lowest visible chart element in this SPY daily chart, Carl Swenlin's net Advance-Decline breadth oscillator & A-D volume oscillator for the S&P 500 indexdeclined on most days in the week ended March 1, 2019
which does not support a high probability for a near-term bullish outcome for the SPY and for the $SPX price action until these two oscillators return to the upside while also remaining above their zero line ...
the time is approaching the turn back up by the two oscillators either takes place or not without an ever increasing opportunity to experience significant price damageat some near-term future day/week
in the overall context - vigilance is required vs. the /ES futures all-sessions and day session low for the week ended March 1, 2019 of $2775 keeping in mind that $2767 to $2788 is an inflection zone of great importance relative to the future technical developments for the /ES the SPY and the $SPX price action with XLF - S&P 500 Financial sector - likely to determine this outcome for the S&P 500 index price action.
XLK is also highly influential in the mix of considerations.
Not constructive for a high probability of an immediate continued price advance by XLF in the coming days is the fact that XLF's downside price reversal on March 1st took place after printing a new intraday price high for 2019 while its largest influential stock component, Berkshire Hathaway, closed the day near its high of day and XLF closed the day near its low of day.
XLF daily Point and Figure chart displays an undeclared overall setup, and can break either Up or Down from this price configuration ... time is approaching the near-term and intermediate-term bullish case for XLF must be proven or not
smoothed bar closes for the 1-minute NYSE $TICK for an 8-day duration will be useful in the future in this combo which displays the price action for five indices with the 200,3 standard deviation Bollinger Band -
/ES 2775 level actually printed today Wednesday February 27th = the SPY 10-day ema price value as well - as of the achievement of the day session low on Wednesday February 27, 2019
the SPY 10-day ema - day session only - is a rising moving average at this time, so if this advance continues the value for the EMA will continue higher while /ES futures $2775 price level remains the all-sessions /ES price low, at this time, for the week ended March 1, 2019
at the moment that the February 27th intraday low of 277.48 was actually printed, I believe the SPY 10-day ema value was approximately 277.39 or 277.40, while the Fidelity Trade Armor function on the Fidelity Active Trader Pro platform shows the 10-day look-back analysis calculating the appropriate horizontal support value is at 277.40
and the 100-day look-back analysis for the major horizontal resistance next above Tuesday's day session high is 280.40 ( ** notice that value resides only slightly below Monday's new 2019 intraday high print for SPY ** ).
SPY daily with the Feb. 27th intraday low marked with a Pink H line, and the 10-day EMA is visible -
S&P 1500 Composite index price action now resides above the important upper boundary of the
599-609 bull/bear divider price zone located in the middle of the price ranges of prior highs and lows
* bears need price back below the 21,2 daily lower BB for a long duration lasting weeks AND a lasting hold below 599 price level =============================== On Fri, Feb 1, 2019 at 2:01 AM happy hiker wrote:
net Advance-Decline lines with other analytical data sets for 5 major US indices, with numerous related charts -
( the A-D lines are cumulative from a floating start date, based on the duration of the chart period which I have selected, while many analysts often select a fixed date from which the accumulation of the A-D math actually starts ... for this purpose, I have only fixed the chart period in number of weeks that are plotted on each A-D chart, so the accumulation start date moves forward by one day upon the completion of another trading day of price action )
selected key charts for evaluating the US equity market as a whole -
/ES S&P 500 index futures $2712.25 / 2690.00 levels must eventually be surpassed on a lasting basis, OR the bears continue to rule the day for many months or years to come ...
/ES 2548 region is the next major lower level of some significance which must be held during future declines in order to gain upside traction having highly probable staying power on a very long-term basis
pullback lows by /ES S&P 500 futures of interest since June 2018:
2775.00 - all-sessions low in the week ended March 1, 2019 2316.75 - late December 2018 low 2401.00 - Sunday December 23rd low near the globex open 2409.25 - December 21 very late day 2441.50 - mid day 2476.25 - December 20 morning globex session 2489.50 - December 19 day session 2531.00 - December 18 late day 2533.xx - December 17 late day
* the sharp decline lower started after October 5, 2018 and continued into October 26, 2018, followed by a brief pause
2712.25 - in week ended October 12 2873.25 - October 5 late day 2887.75 - October 4 mid-day 2865.00 - September 7 a.m. 2877.50 - September 5 2885.50 - September 4 2891.75 - August 31 2876.75 - low in week ended August 31 2850.00 2831.00's 2803.00 2791 August low 2790 late July low 2788 to 2767 = the often tested horizontal support zone in June to July 2018
News 
Market Data 
Discover 
