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 Oscillator
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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…
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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…
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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…
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Weak Open But Bulls Still In Charge
by Lee Adler • • 1 Comment
SPX cash opened weak, falling through the 5 day cycle centerline at 1342, signialing the onset of a down phase in that cycle. The 8 day cycle centerline is at 1338. If that area breaks, the market could trend weaker for the better part of this week. If it holds, then the bulls will still…
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Quelle Surprise! Not.
by Lee Adler • • 0 Comments
And they’re off! Anyone following the Wall Street Examiner Professional Edition Treasury updates showing the massive surge in Federal withholding taxes in January would not have been surprised by today’s jobs report, but most other traders apparently were, as the SPX vaults a dozen points on opening, following a similar surge in the futures at…
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Market Indecisive In Early Going, So Where To Now?
by Lee Adler • • 0 Comments
Well this is different. The market opened slightly weak after the S&P futures had a tiny pullback in the pre market. The 2 day cycle oscillators on SPX cash had been on the sell side since mid day yesterday, and are now on the cusp of either continuing down from around the neutral zone, which…
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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…
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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…
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Bombs Away on the S&P
by Lee Adler • • 2 Comments
SPX cash hit the 8 day cycle centerline at 1320 late on Friday and immediately began to pull back. It had also hit a 2 day cycle projection of 1320. The 2 day cycle oscillator however did not get to the sell side by the close. They left that for this morning’s open after the…
