US 500 rectangle break out of 2785 will result in target of 3100 to 3200.. US500 is in a range between 2711 and 2973.. A close of US500 above 2985 on daily basis will result in confirmation of break out on the upside..

US 500 can see targets of 3000 ,3200 is possible.. Always keep stop loss of 1% if trade go against you

Looks like this can break 3000 resistance by Wednesday/Thursday

current chart





H&S FORMING

S&P could be about to turn bearish.

Hey Folks,

I hope you're all well and safe....

Just putting some ideas out there; I'm (as you ALL well know!) am a novice, but doesn't the S&P chart below look like:

1. is developing (or has developed) a Rising Wedge?
2. is that an island reversal? (I'm using free tools - so not sure about the rising volume).
3. (no, that's not a bear flag - at least I'd better not ruin 1&2 with assertion 3)





stay safe people!

(and looking forward to another crazy week! )

Going to take a short at 2744 or thereabouts - strictly an intra day trade - if it gets there.

This is EXTREMELY RISKY - please do your own research.

An update of the daily chart shows the S&P having broken the 100% extension.

Now look to 2016 > 2023 for the 127.2% extension, and, if the bulls get beside themselves, we could even reach the dizzy heights of 2100 and a 161.8% extension, which would signal a 5 way impulse move and possible further heights to come.....

dl.dropboxusercontent.com/u/7238706/US%2...sh%20%28daily%29.png

dl.dropboxusercontent.com/u/7238706/US%2...0Cash%20%281H%29.png

Here's a copy of my hourly chart. Friday saw the completion of a 38.2% retrace of the move to 1,888.60 to possibly complete wave (( b )). If this proves true then I see the next move up going, eventually, to 1,950.00 > 1,990.00, as can be seen in the daily chart below....


dl.dropboxusercontent.com/u/7238706/US%2...20Cash%20%28-%29.png

Hope this is of interest to some: I know many find wave counts etc very boring so just let me know if you'd rather I didn't bother with this type of post

Yardini's Technical Indicators for the S&P - including Put/Call Ratios (for the cool options traders out there )

Nomura's take on the S&P 500 (well, the e-mini anyway!)

The bull flag breakout on the hourly chart is witnessing a small consolidation below 1795. We expect this topside to yield to a breakout today that can target our initial upside projection at 1809.


Channel projection suggests a more robust move to 1818. S/t, 1792 and 1788 represent support today.

More critical to this up move is the old polarity level at 1773. For today channel support surfaces at 1783 but we don’t expect a test of downside as we await a move through 1795.

Levels: Support - 1792, 1788, 1783 Resistance – 1795, 1808, 1818

Chart attached in the form of a PDF.

This looks like the correction is over on the S&P 500. This finished above the short term down trend line. For confirmation this has to finish above 1654.19......Then that could signal a move to the highs and beyond.


dl.dropboxusercontent.com/u/4899609/s%26p5008thjuly.png

dl.dropboxusercontent.com/u/40497882/spx_6june.JPG

perfect - lets ramp on the indices now.... for that b bounce.

I'm looking at 1597 as the key level for this:



dl.dropboxusercontent.com/u/20815047/FTS...500daily06_06_13.gif

dl.dropboxusercontent.com/u/40497882/Spx_29may.JPG

no change in view, correction completed, structure looks like a flat, both upside and downs gaps closed...

spx 1638 & dow 237 very important now.

volatility great for day traders

pro real time charts really slow, will post updated chart when poss...

cheers WS,

assuming the recent minor correction completed at the recent lows 1535 ( the dotted black line on the below chart)... (dow 158 & 237 see dow thread on these numbers)

then upside targets suggest approx 1699 > 1745 before a deeper correction sets, these price points have fib relationships. .618 of iii & w1 = w5 1.618 etc..

the chart below still applies and daily closes abv 1652/57 > 68 > 87** should indicated higher prices to follow...>1699 >1728/35 > 1745/52, breach of spx 1628 will invalidate the abv and lower prices to follow.

will post a chart later...on dow & spx, expecting new highs and at a min a retest on previous highs before deeper correction sets in - early to mid june.

cheers WS

updated spx

dl.dropboxusercontent.com/u/40497882/SPX_14MAY17v1.JPG

updated, amazing market

dl.dropboxusercontent.com/u/40497882/SPX_14MAY13v1.JPG



WaveSurfer wrote:

PROJECTED MOVE TARGETS N SHORT TERM SUPPORTS...

dl.dropboxusercontent.com/u/40497882/SPX_14MAY13.JPG



RGDS WS

updated: dl.dropbox.com/u/40497882/spx_diag_10minv1.JPG

have a great Easter all, enjoy the long weekend.

one final pop to complete structure....?

it's getting tighter...

dl.dropbox.com/u/40497882/spx_diag_10min.JPG

Good evening all, it appears the tussle for the S&P will result in a new high for the index. The very short term P&F chart couldn't have more of a cluster of targets if you made it up! (last target of 1605 is not active yet, requires a new high without 1544 being breached)

dl.dropbox.com/u/22133197/S%26P%20500%20INDEX.gif

If it does breakout as it is suggesting, it will be interesting to see how it responds at the 1600 level. The caveat is that if 1541 breaks down I think it will be a very different story.

Best wishes all

ft

We got am inside bar on this on Friday so it's long above 1558 and short below 1543 with opposing stops:



dl.dropbox.com/u/20815047/SPXdaily24_03_13.gif

The current price high came on the test of the downtrend formed by the RSI bearish divergence which happens quite frequently. If this breaks down then I'd look towards that 1485 area as the max low for now. A break to the upside may target the all time high at 1576.

remember this chart posted on the 14Mar on chat ?

dl.dropbox.com/u/40497882/SPX_14Mar.JPG

to this:

dl.dropbox.com/u/40497882/SPX_15Mar.JPG

Spx closed @1561 so back inside that wedge...just

J - please see my dow post.

Can someone please check whether there's a hanging man on SPX daily? Also, anyone got any views on the wave count here, either short term or med/long term?

As I've posted, I'm already short on the indices so would like some other views to confirm/refute what I'm seeing.

TIA

One more thing to add here, with the job numbers being what they where, the fact the price could not hold & the selloff that occurred on open approx 10/12 pips and then could not hold abv 1552 by close adds to my thoughts.....WaveSurfer wrote:

minimum target for this wave now achieved yesterday and in addition to that invH&S target being satisfied posted earlier and mentioned on chat yest, however to confirm the below numbers are required to confirm one way or the other....

i now see signs for an imminent correction -divergence appearing 1hour and rsi on daily @80+ that wont confirm until a close below 1534 for an imminent Short term correction, unless spx can take out 1560 and close abv it and negate that divergence altogether and most importantly that Price... i believe the ST correction to be an Int wave IV of Major 3 which could be approx 3-5% in the interim if it when it confirms..

dl.dropbox.com/u/40497882/SPX_1HR_Mar0813.JPG
dl.dropbox.com/u/40497882/SPX_4hr_Mar0813.JPG

rgds WS

we can relax a bit now....esp since we closed not only abv that 24/25 but 34 also.

Hi
It looks like the wave iii of wave 5 is underway. So we need a wave iv and v to finish this of a wave 5, then a larger correction to start later in march/april.

Let's hope it stays nice and neat.

G

agree with you on that G.

if the market reverse back of that level and we get a close below 1500. then it is almost certain that the correction has started. however the first signs will be a close below 1514/15 and then a confirmed close below 1500/1498. imo

as long as 1515 to 1510 holds up then market has a shot to the upside esp if it take out 1524 and closes abv it. after reviewing charts after close last night, i have to note that it's starting to tell me to start applying some caution. perhaps it's abt time to start picking spots for shorts. lets see what next week brings and what levels are tested and respected.

in the meantime it's all to play for

www.newyorkfed.org/markets/tot_operation_schedule_130228.html

Hi
This is a very viable count, but that area 1525-1530 is proving to be really stubborn. If it gets through, then 1550 area is defo next stop for the iii, then a iv perhaps testing the 1525 area from the other side, to then finish iv in 1570 area. Followed by a deeper larger degree wave iv timed for April / may, sell in may and go away thing!

Nice and neat! Lol! If only....... Let's see.

What is interesting is the day when you had the huge surge earlier this week, the POMO from the fed was massive compared to the other days.

G

did i hear 1552 ?

dl.dropbox.com/u/40497882/SPX500_Mar01.JPG

screencast.com/t/K7MoiciqW

Based solely on a repeat of wave W - up to 1474.9 14th Sept 2012 - the projected high would be 1552.20 and this may well be subject to an extension by at least 23.6%.
Just MHO.

Hi
I was reading this interesting article about 2013 vs 2011 market structure.

www.bespokeinvest.com/thinkbig/2013/2/27...vs-2012-vs-2011.html

What is interesting also about yesterday's action is that, copper has not cOnfirmed the move. I think this is a warning sign of perhaps some 5% correction to come in March.

G

from 1343 low on 16/11/2012, high 1448 on 18/12/2012 and low 1398 on 31/12/2012
This is only recent wave projection

Hi ftse

How does the fibbo project to 100 please ?

Cheers RMc

I just went short on s&p500 at 1501 due to
- doji
-overbought RSI
- negative divergence on rsi
- fibbo projection to 100%



bear in mind it is EOD chart