(1327,30) The S&P found good support above 1320 for now but only a move above 1340 will confirm a s/t bottom supporting higher levels and confirming a double bottom in the hourly chart. The indicators of the daily chart are still well negative but also still showing potential positive reversals and they are close to the oversold area. Continue Reading…

(1333,80) The S&P confirmed our s/t target(that we did not follow!!!!!!!!!) managing even a test of the 1321,00 area before rebound higher. There is still another target at 1309,70.
The indicators of the daily chart are still well negative but also still showing potential positive reversals. Continue Reading…

(1339,20) The S&P formed on Friday a negative outside day reversal favouring a drop below the 100 days line this morning. While below 1344,02 on an hourly closing we have to expect further weakness toward our s/t target at 1326,80. Continue Reading…

(1352,80) The S&P found also yesterday good support above the 100 days line at 1342,60 and while above this line we favour a resumption of the move up. In the hourly chart we have a potential reversed S_H_S formation with the neck line at 1360,70; an hourly closing above this line will support a rally toward the 200 hours line at 1372,24 with even a possible if not even probable extension 1385!! Continue Reading…

(1360,80) The S&P confirmed as well a positive day reversal yesterday after the test of the 1342 area, on the way toward our target at 1326,80. Only a daily closing below 1354 will confirm lower level and for the moment the S&P failed to confirm such a closing. Continue Reading…

(1402,80) The S&P confirmed a positive closing after the 1411 overshooting but it failed to confirm the break above the resistance of the inside day at 1404,00. Nevertheless, while above 1400 we expect further strength and for sure a retest of yesterday’s top!! Continue Reading…

(1394,60) The S&P failed to extend the move up retuning instead below the 1400 level. Overall it remained interior Friday’s range forming a new inside day with 1404,00 – 1385,50 the level to follow in the coming hours/ session. Continue Reading…

(1400,50) The S&P confirmed on Friday a further strong closing above the top of the previous session supporting further strength toward 1408 where we expect the resistance of the former support line!! Continue Reading…

(1382,50) The S&P confirmed a strong closing last night but only a daily closing above 1390,00 will support further strength. We saw already a 1390 overshooting this morning before however coming off again. Continue Reading…

(1365,50) The S&P confirmed a weak closing below the support of the inside day at 1364,50 suggesting further possible pressure. The drop tested also the suggested neck line of the S_H_S at 1357,65 but it failed to confirm a break of it. Only a daily closing above 1390,00 will resume the move up!! Continue Reading…