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

Friday, September 30, 2011

Here's the prototype for the OddsTrader app and the information it conveys:



Trend - down
Resistance: 1180
Support: 1130
Pivot: 1160
Risk/Reward Oscillator: 27%; below 15% = oversold, above 85% = overbought
Volatility: 15%


The Bull Flag case, for those who feel lucky:


Closely following the downtrend line:



Today's action puts the lower support lines firmly in play.

Thursday, September 29, 2011

If the end of month/quarter rally attempt can't bring the index back inside the channel, the outlook going forward is bleak:



Swiftly rejected at pivot point:


On track for a 180 degree reversal:



Tuesday, September 27, 2011

Monday, September 26, 2011

From Doom & Gloom to All is Good:



Or is it? The next few days it will become clear exactly how much gas is left in the tank:



1150 should become support now.

All industry groups finished last week in the middle of their range:


In pre-market action, the retest of the low came in at 1115, and the high at 1150.65:


Friday, September 23, 2011

KISS & Waterfall update:



This chart shows the damage that has been inflicted, and what's needed to repair it:


Pre-market update: the futures tagged the 1100 line:


Thursday, September 22, 2011

Closed right near support, oversold, on increasing volume:



However, 1100 is too close to ignore, and will provide a better stage for a rebound.

So far, so good:


Judging by pre-market action, I must have been in the minority expecting little from the FED.
Keep an eye on 1136, 1120 and 1100 SPX.


Wednesday, September 21, 2011

The real test is coming the next couple of days:



While waiting, it doesn't hurt to add one more trend-line:



Gold finds itself suddenly in the middle of the range:

Tuesday, September 20, 2011

All eyes on Ben:



Treading water between support/resistance.
Time to update support/resistance lines:


Monday, September 19, 2011

Planted firmly between support/resistance lines:



Waiting for Ben to save the day.
I don't expect anything meaningful, but that doesn't mean the market won't show its irrational and exuberant side.
Back to the old pivot line:



The one silver lining is the fact that a 2-day FED meeting is coming, and that's usually good for a 10-15 SPX points anticipation run, no matter what the outcome.

Saturday, September 17, 2011

Weekly sector rotation



Notice the difference with last week ?

Thursday, September 15, 2011

As good as it gets, but we've seen this movie before, and we know how it ends:



Waiting for the next "crisis" that will propel the indices upwards:



Yesterday's resistance becomes support now.
Yesterday's high should provide formidable resistance:


Wednesday, September 14, 2011

Tuesday, September 13, 2011

No surprises at the close for SPY:



The index needs to break above the pivot line, however, in order to prove that this is not just an oversold bounce.

Following the pattern nicely, so far:


Monday, September 12, 2011

Action similar to last week:



weakness pre-market, rally after the open.

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