Market Diary : S&P500 Outlook

If this a jab back into the rising wedge formation, which is the last hope of the bears, then this market could rise to 1125 before turning down.

Market Diary : S&P500 tomorrow

I think the S&P500 will close around 1082.70 (or about 108.80 on the SPYders) tomorrow.

If we can't hold that level then maybe it could start coming down further.

Market Diary : The Week Ahead

The S&P500 did not break above rising wedge resistance line, however, no short opportunities unless we close below Friday's low i.e. 1059.32.Even better would be a close below 1055 which is the 50dma. The S&P500 weekly chart is looking bullish at resistance of 1069 so the markets must not close above this level this week for the bears . On the S&P monthly we could get up to 1080 but if we get a close below 1015 it will be very bearish.

The NASDAQ daily is just below its 20dma finding resistance there (at 2121). The NASDAQ weekly chart looks bullish (similar to the S&P weekly but not at resistance) and the NASDAQ monthly is more bullish still with the 100 month MA acting as support (at 1974)

A Little 'Divertissement' While We Wait For The Market To Decide Where It Will Go

Market Diary

S&P 500 versus Gold

Assuming gold goes to $1,300/oz and a movement toward 0.74 equilibrium in the S&P500 to Gold ratio then this would suggest a target price on the S&P500 of 962

Tim Knight's Bear List (Truncated version)

AES AFL ALV AMKR AN ATPG ATW AVB AXP BEZ CSC CSIQ FLEX IDXX ISRG JBL JCI JNY LTD LZ MRVL MWV OII ORLY OSK PCLN PPG RRD SA SKX SPLS TEN TSL VCI VCP VFC VMI WDC WRC XEC YUM

S&P 500 : Symmetrical Triangle

Targetting 1070 on the upside (where i will add to my shorts) or 1015 on the downside

S&P 500 : Falling Wedge

UUP

Market Diary : Weekend Edition

The S&P500 monthly targets 1012 on the downside.

You Are Here

Market Diary : The Week Ahead

Market Diary : Tim Knight

USD

H/T Alpha Global Investors

Chart of the Day

H/T Quantifiable Edges

SSO Again

Dr Brett says : "I took a look at what has happened historically after we've had three consecutive days of 20-day lows exceeding 2000. Going back to late 2002, which is how long I've kept these data, we find only 39 instances of such weakness. The next trading day, the S&P 500 Index (SPY) has averaged a gain of about 1% (24 up, 15 down). I find no significant upside or downside edge after such a relief bounce."

So SSO could go up to 33.50 tomorrow according to Trader Feed