Market Breadth Data******************************

Thursday, January 31, 2008

Finishing the month off with classic action/reaction off the pivot line.

During the second part of the day,
the action seems to be confined below the trendline,
and the old resistance band is coming again into play.

Wednesday, January 30, 2008

Well, the uptrend channel is still in play, but there was a miserable failure right in the middle of the suggested resistance band.

In other words, "At the Crossroads" #2.

P.S. Don't forget to consult the indicator on top of the page.

As of 14:45, it looks like a confirmation of a new trend channel, but the first real test for the e-mini will come at the 1385 - 1390 level.

Tuesday, January 29, 2008

The all too familiar "At the Crossroads" pattern.

Friday, January 25, 2008

The SPX met resistance exactly where it was supposed to,
while gold continues to march under its own beat.

Let's front-run the week-end with a 2 weekly SPX charts.

Wednesday, January 23, 2008

Back by popular demand,
here's the SPX chart from yesterday.

As for the DJIA, previous resistance (Y2K hi), should act as support now.

Tuesday, January 22, 2008

And "Bingo" !

For those, not afraid of catching falling knives, here are some SPX support levels.

Saturday, January 19, 2008

DJIA showing first signs of cracking under pressure,
while the overbought/oversold indicator is dropping in the oversold zone.

So, draw your own conclusions.

While doing it, it may help to take a look at the 10 year bond.

Thursday, January 17, 2008

Today's SPX decline illustrates the value of the indicator used for the mechanical trading system. While many were calling for an end of the pull-back yesterday, the indicator clearly shows that, contrary to popular belief, the market was still pretty much overbought at the close on January 16th.

At this rate, however, the market will be oversold tomorrow when/if it drops below 16.

In the meantime, gold continues to swing right on cue.

Tuesday, January 15, 2008

For the EW impaired, here are some objective daily and weekly SPX waves without the fancy guesswork.

Monday, January 14, 2008

Let's switch gears here, and instead of looking at intraday CIT's, let's take a look at some basic positive/negative influences likely to manifest themselves in January.

Friday, January 11, 2008

To spice things up, I decided to add the "SPX Barometer", a mechanical trading system. The premise behind the strategy is that whether the SPX moves up, down, or sideways, it goes through overbought (high pressure) and oversold (low pressure) cycles. Therefore, the system takes into account only the overbought/oversold nature of the market, with no consideration of price action.

The rules could not be simpler: buy when buying pressure increases (the trigger line crosses above the 5 day moving average), and sell when it decreases (the trigger line crosses below the moving average). Or, for a more conservative approach, buy when the trigger line crosses above the oversold line, and sell when it drops below the overbought line (this is the approach that will be followed here). As a rule of thumb, readings over 36 are overbought, and below 16 -- oversold. Due to FusionChart limitations, only one overbought/oversold level will be marked at a time on the chart

The absolute levels of the signal tracking line are irrelevant and have been removed; the line is included simply to show when the system is right or wrong, and by how much.

Since the data will be updated after the close, it is best to consider this as a reference tool.

It should be noted also, that the SPX Barometer is not related to the Gravity dates, but the two complement each other, and could be used together.

Friday's select CIT's.

Thursday, January 10, 2008

Interestingly, this chart suggests that the next turn should coincide with opex.

OK, let's try the intraday pattern one more time.

Intraday cit's for today.

Wednesday, January 09, 2008

So far, so good.

I was a little hesitant to post this forecast but the timing and general trend are not to be ignored.

A few select times for today.

Tuesday, January 08, 2008

And this is another intraday forecast, using a slightly different technique

Monday, January 07, 2008

And here's the intraday outlook for tomorrow.

And once again -- not too shabby.

Let's see if I've set-up my alarm correctly.

Not too bad, even if I do say so myself.

Sunday, January 06, 2008

The gadget above displays the same information as the indicator below.
One of many ways to measure the overbought/oversold status of the SPX.

Saturday, January 05, 2008

For the week-end, it may be a good idea to look at weekly charts, to put things in perspective.

Without forgetting our daily gold/forex pair:

Friday, January 04, 2008

It will be interesting to see if the sq144 can provide support...

It did -- barely,

therefore, it may help to turn to the sq144 from the October highs:

Thursday, January 03, 2008

The new channel doing a pretty good job so far...

but not any more:

Wednesday, January 02, 2008

These are the gravity dates for January 2008.

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