SP futures (or ES electronic mini S&P) have been tanking since 3 PM (NY time) yesterday afternoon when it became apparent that the Greece deal was no deal and was going down. The Spoos broke the 2 and 5 day cycle centerlines around 6:30 PM and kept going through the night. As of this writing,…
Tag Archive for Centerlines
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2 Day Cycle Target of 1352-53 Hit On Open, Market Tries For More
by Lee Adler • • 3 Comments
SP futures (or ES electronic mini S&P) traded flat through most of the night, then went into rally mode at 7 AM NY time, topping out on release of the weekly unemployment claims, which beat expectations. The futures have since been walking sideways, just above the converged 2 and 5 day cycle centerlines, which are…
Charts and Trading, Day Trading, Latest Business Headlines
Waiting For Ben’s Dog and Pony Show
by Lee Adler • • 6 Comments
SPX (cash) opened weak in a repeat of yesterday’s action, again dropping back to a key trendline. 1310 is now the point at which SPX hits a rising trendline from the December peak that was broken to the upside on January 18. Dropping and holding below that would complete a false breakout, which would normally…
Charts and Trading, Day Trading, Latest Business Headlines, Technical Analysis
Market Completes False Upside Breakout
by Lee Adler • • 2 Comments
SPX (cash) opened weak, pulling the 2 day cycle to the sell side with a projection of 1308 in the initial moments which has been reached and slightly broken. As I completed this update, the projection looked to be around 1304.50. A 5 day cycle buy signal late yesterday has whipsawed from a weak position,…
Charts and Trading, Day Trading, Latest Business Headlines, Technical Analysis
Bulls Poised For More Today
by Lee Adler • • 5 Comments
SPX (cash) had a late surge on Friday pushing the 2 day cycle projection to around 1317. 2 day cycle oscillators had been on the buy side since mid day. Resistance was indicated at the 5 day cycle centerline at 1315.50 and the 8 day cycle centerline at 1316.50. With a move above those levels,…
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Stocks Open Weak, But At Support
by Lee Adler • • 2 Comments
SPX (cash) traded in a line yesterday after blasting off at the open. The 2 day cycle oscillator was on the sell side from mid day until the close. 5 and 8 day cycle oscillators were in the topping zone but had not rolled over. SPX closed right on the 5 day cycle centerline at…
Charts and Trading, Day Trading, Latest Business Headlines, Lee's Free Thinking
Market Going Nowhere Until It Breaks These Levels
by Lee Adler • • 1 Comment
SPX (cash) closed Friday on a weak note with 2, 5 and 8 day cycle oscillators all turning down, but with 2 and 5 day cycles both due for a cycle low imminently. The opening here is virtually unchanged from Friday’s close, with the indicators mixed and directionless. Support is indicated at about 1277, with…
Charts and Trading, Day Trading, Latest Business Headlines, Lee's Free Thinking, Technical Analysis
Market Sitting On The Dime
by Lee Adler • • 0 Comments
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 to…
Charts and Trading, Day Trading, Latest Business Headlines, Technical Analysis
As Usual After Europe Opens, All’s Well- Morning Market Update
by Lee Adler • • 0 Comments
The SP futures were sitting on inner 2 and 5 day cycle lines around 1 AM ET, but began to sniff a strong open in Europe, and moved up off those support lines so that 2 and 5 day cycle oscillators turned up just as Europe opened at 3 AM. The Spoos crossed the centerlines…
