A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Stool Pigeons ’
Just the Facts M’am, Just the Facts- A Brief Liquidity Summary
A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest of getting caught up, I’m presenting a condensed version of the Fed Report tonight. It includes just the main components of the macro liquidity indicator (which I suspect is probably...
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Market Opening Groundhog Day
S&P cash surged on the open following yesterday’s mid afternoon 2 day cycle buy signal. The 5 day cycle indicator has been on the buy side since the middle of the day Monday.The last 2 day cycle projection yesterday of 1316 is now in the rear view mirror. The new projection of 1322 is...
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Nowhere To Go But Sideways
The blowoff ended yesterday morning and SPX cash has drifted down irregularly, hitting the last 2 day cycle projection of 1315 late yesterday. The 2 day cycle oscillator formed a trough at the end of the day, and has barely edged to the buy side in the opening minutes today. 5 day cycle indicators...
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Market Eating Sandwich
SPX (cash) opened weak. 2 day cycle oscillators had been on the sell side since mid day on Thursday. The weak opening left 5 day cycle indicators on the brink of sell signals. The market has already raced ahead of the initial downside projection for the 2 day cycle. A 5 hr cycle projection...
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Market Opens With Spurt To Resistance
SPX (cash) finished the day on Wednesday with the market trending toward a 5 day cycle projection of 1311. Meanwhile the futures tacked on another 7 points from their 4 PM NY close. An 8 day cycle channel line on SPX comes in at 1311, with a 5 day cycle centerline at 1305 as...
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Mixmaster Market
SPX (cash) opened weaker, falling below the 8 day cycle centerline, but is since has recovered above that line. The 2 day cycle projection of 1290 was almost hit in the opening moments. 5 day cycle indicators are on the cusp of sell signals, but the 2 day cycle is opposed, with the indicators...
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Up Up and Away
SPX (cash) opened with a massive gap that resulted in a 2 day cycle projection of 1303-07. The gap down triggered sell signals on 2 and 5 day cycle oscillators. Resistance is suggested at an 8 day cycle inner channel line at 1305. If that’s cleared, the next one is at 1314. Support is...
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Market Blasts Off But Immediately Hits Cycle Projection
SPX (cash) closed yesterday with a 2 day cycle projection of 1285. It blasted through that on the open, resulting in a new projection of 1295.50, which was about where the SPX stood as I typed this at 9:35 AM. A 5 day cycle resistance line was also indicated at that level with the...
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Today’s Keys to Breakout from Rangebound Mush
SPX (cash) just popped as it tries to get back to the 8 day cycle centerline at about 1282. That cycle appears toppy.The 5 day cycle indicator is weak. SPX traded down to the area of the rising 5 day cycle channel centerline, briefly broke below where it hit a 2 day cycle projection...
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Support Holds in Opening Selloff
The SPX (cash) has bounced from a 2 day cycle projection of 1266, but both 2 and 5 day cycle indicators have just turned down, suggesting that more downside is likely, but even the 3 day cycle projection only points to 1264 and time counts suggest that both 2 and 5 day cycle lows...
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Market Sitting On The Dime
At the close of the NY cash market yesterday, 2, 5, and 8 day cycle oscillators were on the sell side, but initial downside projections around 1265 were reached on an implied basis shortly after the close. However, if the SPX does not recover above 1267 in the early going, it looks vulnerable initially...
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Intraday Cycles Point Down. No… Wait!
The nominal 2 day cycle on the SPX index ($SPX) is in a choppy down phase with a projection of 1210-1212 on the cash ($SPX). However, 5 day cycle indicators have yet to roll over on either $SPX or the SP futures. The futures are holding near the 5 day cycle centerline which is...
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Mid Day Market Update 12/15/11
SP futures may be forming a 2 day cycle top. The indicators for that cycle are on the cusp of sell signals, although a second wind cannot be ruled out until the actually turn down. The key level looks like 1209, which is where the 2 day cycle centerline currently is. If that breaks,...
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Market Morning Update 12/9/11
SP futures have entered a nominal 2 day cycle up phase, hemmed in by resistance at 1248 and support at the centerline of the cycle at about 1238. The actual duration of the cycle has been running at only a day to a day and a half for the past week or so. On...
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Market Afternoon Update
The SP futures have slid to the outer 2 day cycle inner channel band (red channel lines) as the news flow out of Europe broke a 2 day cycle up phase and a trending pattern in the 5 day cycle (blue channel lines) this morning. The Spoos are headed from the lowest 2 day...
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Market Morning Update 12/8/11
The ES futures are gyrating wildly between the 2 day cycle inner channel lines (red lines), interrupted by news noise bombs. The lower support line now at 1251 has just been slightly broken as I write this. The upper resistance line is around 1274. The centerline around which price has been gyrating is now...
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Market Opening Outlook 11/29/11
Running late this morning, so I will keep this short. You can see the support and resistance lines on the chart. Approaching the open, the S&P futures are sitting right on the 2 day cycle cetnerline. If that breaks, the bias for the day should be sideways to down. 2 day cycle oscillators have...
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Market Opening Outlook 11/28/11
World markets are throwing a party this morning. The 5 day cycle, which hadn’t been cycling for a couple of weeks, finally has an up phase. The wave has turned up after downtrending since November 13. The 2 day cycle outer edge band has already hit the top edge of the 5 day cycle...
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Market Opening Outlook 11/25/11
After some weakness over the holiday as the S&P futures traded in Europe and Asia, they have bounced back a little here in the US pre market, just in the last half hour. Millions of amateur traders are home in front of their computer screens today, while many pros are taking the day off....
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Market Opening Outlook 11/23/11
The S&P futures broke support at 1180 after the NY close, falling to the declining outer 2 day cycle ribbon at 1169 and pretty much parking in a range ever since as the cycle lines continued to head lower. The sideways movement brought the Spoos back to the downtrending 5 day cycle inner cycle...
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Market Opening Outlook 11/22/11
The cash market overshot a 2 day cycle projection of 1196 in the late going yesterday and even though it pulled back in the closing moments, 2 and 5 day cycle indicators remained on the buy side. The S&P futures pushed a little higher overnight in Asia, reaching the declining 5 day cycle centerline,...
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Market Opening Outlook 11/21/11
We left the cash market Friday with the 2 day cycle just starting to roll over as they headed for the closing bell. An initial 2 day cycle projection pointed to 1205 which was smashed in the futures overnight. The futures have come off a low of 1192 slightly. The cash open will be...
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Market Opening Outlook 11/18/11
We left the cash market yesterday with a 3 day cycle projection of 1208 that was just about hit. The 2 day cycle turned up at the bell, with an initial projection of 1218. The SP futures have exceeded that in the pre market, hitting 1230, and now trading at 1222, suggesting a gap...
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Market Opening Outlook 11/17/11
The manipulation that’s the dominant feature of scam week (opex) trading typically rips cycle patterns to shreds, and this week has been no exception, but we do the best we can to identify support and resistance and likely turning or breakout points. Yesterday the 2 day cycle projection on the cash SPX at the...
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Market Opening Outlook 11/16/11
The 5 day and 2 day cycles on the SP futures appear poised to head down after weak, sideways up phases. That’s usually a powerful, bearish combo. A 2 day cycle low is not due until tomorrow. A 5 day cycle theoretical low isn’t due until next Tuesday. The spoos are trading at 1243,...
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Market Opening Outlook 11/15/11
The 5 day and 2 day cycles on the SP futures appear to be in the process of turning up. The 2 day cycle indicator on the cash SPX turned up yesterday afternoon. A high is ideally due on that this afternoon. The spoos are trading at 1245, just below the 2 day cycle...
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Market Opening Outlook 11/14/11
The 5 day and 2 day cycles on the Spoo futures turned down in the pre market, mostly after Europe opened. They are now trading right at the 5 day cycle centerline at 1255. They’ve been holding there for the past 2 hours and could go either way from here. Both 5 and 2...
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Market Opening Outlook 11/11/11
The market took the high road in last night’s either/or outlook. This was the “or”– “But if it (the 5 day cycle centerline) holds, then there could be a gentle move up within the 2 day cycle lines toward at least the inner 5 day cycle channel line now at about 1248, and falling...
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Market Opening Outlook 11/10/11
First let’s look at last night’s after the after market update to see how’d he doodied. The market hit the more bulled up spots on the chart, stopping this morning right at the centerline of the 5 day cycle channel. Those Wall Street bulls! As with blind prostitutes, you gotta hand it to ‘em!...
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Market Opening Outlook 11/9/11
On the S&P futures 24 hour basis, the 5 day cycle topped out a few hours early, in the US pre-market rather than mid day. The Spoos are currently resting just below the inner 5 day cycle line, now at about 1248 and beginning to roll over, or at least turning flat. It is...
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