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 Entertainment Purposes
Charts and Trading, Day Trading, Latest Business Headlines
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
SPX Tentative Target Today, 1360 or Bust
by Lee Adler • • 2 Comments
The SP futures (or ES electronic mini S&P) have been drifting sideways since yesterday afternoon. Where have I heard that before? This is getting old. However, the trend continues to be ever so slightly to the upside, with the 5 day cycle oscillator staying pinned in positive territory for days on end. The 2 day…
Charts and Trading, Day Trading, Latest Business Headlines
Bears Grab For Control of Tape
by Lee Adler • • 1 Comment
The SP futures (or ES electronic mini S&P) have been in a slow downward drift after making a double top coincident with the open of European trading, versus a pivot high earlier last night. The Spoos dropped below the 2 and 5 day cycle centerlines, both moving sideways at about 1339 and 1337 respectively, but…
Charts and Trading, Day Trading, Latest Business Headlines
Market Opening Groundhog Day
by Lee Adler • • 2 Comments
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 already…
Charts and Trading, Day Trading, Latest Business Headlines, Lee's Free Thinking, Technical Analysis
Another Rally From the Valley, Ho Ho Ho
by Lee Adler • • 4 Comments
SPX cash left us with a 2 day cycle projection of 1318 at yesterday’s close. Say bye bye to that. The new projection is 1328. A 3 day cycle projection points to 1326, and a new 5 day cycle projection resulting from this morning’s gap open points to 1329. Resistance is suggested at a 5…
Charts and Trading, Day Trading, Latest Business Headlines
Nowhere To Go But Sideways
by Lee Adler • • 0 Comments
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 remain…
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,…
Charts and Trading, Day Trading, Latest Business Headlines
Market Eating Sandwich
by Lee Adler • • 1 Comment
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 points…