SPX_M_160819

S&P 500: 65 Thousand Feet View

Monthly Chart Analysis Current Status: Last Updated on Friday August 19, 2016 Current Trend: Uptrend Last Pattern: Rectangle (Apr-13) Current Streak: 1 Up month Last Six Months 4 Up months High Month Low Month Last Swing 2116.48 Feb-16 1810.10 Nov-16 Previous Swing 2134.72 May-15 1867.01 Aug-15 Pivot: 2176.92 S1: 2160.03 R1: 2206.26 S2: 2130.69 R2:…

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Market Diary – Thursday Aug 18, 2016

Directional Bias For The Day: S&P 500 futures are drifting lower after making day’s high at 3:00 AM Odds are high for a sideways or a down day – break above 2182.75 will be a power-buy setup and bullish for the day On the 2-hour chart, S&P future broke above a short-term trend line on Wednesday but is retracing;Critical support levels for…

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Market Diary – Wednesday Aug 17, 2016

Directional Bias For The Day: S&P 500 future is unchanged but the odds are high for a down day On 2-hour chart, S&P future is at a support level and has broken the uptrend line since August 2nd; on Tuesday it made a lower high but hasn’t made a lower low yet; Critical support levels for S&P 500 are 2175.72, 2172.00, and 2165.52 Critical…

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Market Diary – Tuesday Aug 16, 2016

Directional Bias For The Day: S&P 500 future is edging lower and odds are high for a down or sideways day On 2-hour chart, S&P future is in a uptrend but is at the trend-line; it is still making higher highs and higher lows; Critical support levels for S&P 500 are 2186.22, 2182.28, and 2178.49 Critical resistance levels for S&P 500 are 2193.81, 2197.74…

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Market Diary – Friday Aug 12, 2016

Directional Bias For The Day: S&P 500 future was almost unchanged before 8:30 release of Retail Sales data but declined four points post data-release On daily charts, S&P future is in an uptrend; on 2-hour timeframe, it is in a rectangle trading range; on 30-minute, it broke below an uptrend line and made first lower high and lower low since…

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Market Diary – Thursday Aug 11, 2016

Directional Bias For The Day: S&P 500 future is drifting higher; good chance of an up day On 2-hour timeframe, S&P 500 future is back in a rectangle trading range; it broke above one August 5th and then fell back into Wednesday before breaking above again in early Thursday trading Critical support levels for S&P 500 are 2172.00, 2168.79…