View Full Version : S&P Daily E-mini Technical Analysis
For the Daily chart S&P E-Mini Analysis.
Upside volume is still a joke, so don't start getting all bullish because of today. We want to see heavy upside volume!!! :D
Lets see what the CPI and PPI tells us this week.
Look for monday and tuesday to be slightly down needing to hold either support level provided then on wednesday through the rest of the week try to take out the 1194 area. This will give us the conviction for the upside, otherwise we are still range bound. :58:
Runner
05-23-2005, 08:15 PM
Intra $spx
http://img183.echo.cx/img183/8369/spx0rm6by.png (http://www.imageshack.us)
Yeah this rally sure had the strength did'nt it. The shorts kept shorting and the shorts kept getting burned. :D Nice chart runner :35:
Runner
05-23-2005, 08:41 PM
MTM, what ya think about looking for shorts now. I’m thinking the party is getting closer to completing. I was surprised the rally did as well as it has. Now of course I’ve been wrong many times in the past….lo
Looking for short on the futures?
Runner
05-23-2005, 09:32 PM
MTM, was thinking more on the lines of just short plays on some stocks. Any good looking sectors to scout for shorts? I’m also wondering if Oil has another wave up coming in the not to distant future?
I think oil has another wave higher or equal to the last one, but its going to be fall at the earliest since this time of year oil is in less demand. As far as stocks I have a radar full of them, but I am waiting for the Fed minutes to come out tommorow. Depending on what they say will lead me to which ones I will look to short. You never know what they may say, So I will wait until then.
Runner are you looking for like 2 day snap back shorts or something longer that can withstand more upside potential?
Runner
05-24-2005, 09:51 PM
Not sure on wave target. Looks as if $spx may have put in a market structure high, need clearer signal
http://img181.echo.cx/img181/9089/spx0nj.png (http://www.imageshack.us)
I agree, we have our short trigger finger locked and ready.
Here are some scenarios to keep in mind as we waddle through the torcher. There are 4 or five charts in a row here.
Looks like we need to hit the 1203 to 1206 area before we reverse to the a pullback.
Watching for it to happen mid day Tuesday or Wednesday morning after a fake to the upside. :D Have a good Memorial Day weekend everyone.
Runner
05-27-2005, 10:03 PM
MTM, we shall soon see. 1203 has not been breached yet, but close enough for me. I closed longs and moved to cash today.:4:
Its out of steam just waiting on that reversal bar. Already started taking a few shorts. :D
Nice reversal day, unfortunately the volume is still very light. Day was down nice by the close but the A/D stayed positive. Many stocks continued to plow to the upside ignoring the down day. I hope these longs are right, for if they are not they will see a world of pain. So we just jump around and take what we can get until this market moves out of the consolidation range here between 1202 and 1185. :D
Runner
05-31-2005, 08:16 PM
http://img163.echo.cx/img163/8223/spx12by.png (http://www.imageshack.us)
Yeah overnight futures hit the resistance dead on to make the high of 1201.75
Resistance was from 3.15.2005
Well we broke out intr-day but got slammed right back to that overhead resistance line at 1202.
We can't seem to get 2 days down. It appears that everyone that did not get in is to scared to miss another move. 1202 on the spoos was resistance and we broke above it today but came back to close right on top of it. It would be nice to have some bad news just to get the market to pull back so that will give people the all clear they want to jump in. These fast and big moves are nice, but the sideways movemements after that is driving traders crazy. :D
An ideal pullback would be to 1185.
Runner
06-01-2005, 06:37 PM
OK, here is my slop chart of SPX, I must admit I thought we would have tanked by now. I do respect the bullish tone that has been occurring even with the awesome volume. I closed all my positions today and now in cash. I’ll stand by until something develops.
http://img49.echo.cx/img49/6854/spx24yz.png (http://www.imageshack.us)
Runner
06-01-2005, 06:40 PM
An ideal pullback would be to 1185.
MTM, was thinking along the same lines with 1185 area!!
OK, here is my slop chart of SPX, I must admit I thought we would have tanked by now. I do respect the bullish tone that has been occurring even with the awesome volume. I closed all my positions today and now in cash. I’ll stand by until something develops.
http://img49.echo.cx/img49/6854/spx24yz.png (http://www.imageshack.us)
Take a look at the $BTK its been pulling back slightly and had a bullish engulfing today. The financials might hold this up for another 2 days since the S&P 500 is heavily weight with financials.
Just going to play it as she come for now like you said. I have 1216 as the next resistance, but thats a stretch.
Runner
06-01-2005, 10:06 PM
My slop chart of $BTK
http://img132.echo.cx/img132/1925/btk2ys.png (http://www.imageshack.us)
Crap It figures I would do that. I ment the $BTX (Banking Index) I need to stop doing to many things at once. lol :25:
Here is my draw up of the $BKX, this is what could keep the Spoos up.
Runner
06-02-2005, 09:29 PM
My slop chart of $BKX
http://img48.echo.cx/img48/536/bkx6qg.png (http://www.imageshack.us)
Current take on the Spoo's watch for the 1183 area to be a good support area.
Spoos need to close above 1210 or todays rally will not hold. JMHO
Look around at most of the stocks that lead this rally, they are not doing so hot at the moment.
Bottom line start bagging profits and tightening stops!
The spoos have bounce to the 1.382 mark of fibbonacci extension look for 1.50 to be the extreme intermediate high.
RSI is still showing bearish divergence too. Just sitting and watching for the crack to the downside. :33:
It look messy, but if the shoe fits wear it.
Runner
06-19-2005, 12:35 PM
Intersting point of view!!
http://www.financialsense.com/fsn/061805charts.html
Runner
06-20-2005, 10:57 PM
Well will we test old highs or is it getting sleepy here?
Well I thought we would inch are way down to the 1210 over today and tuesday, but with the light volume anything goes at this point. Ther eis no one selling that makes a difference.
Enlighten
06-21-2005, 02:08 PM
5m heres a different look....
Broke support trendline now looking for the magenta lines for targets.
1211, 1195, 1182 are the dowaide risk targets.
It's all in the chart. :D
Daily technical chart view
Enlighten
06-13-2006, 01:14 PM
will she hold?