S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

 

Click on chart to enlarge S&P500 Hourly Increments Higher – Technicals Rolling Over – Expect Downside Tomorrow

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Upside momentum is fading.  We expected to see a roll over last week.  A close below 1815 should drive markets much lower – NASDAQ100 is much further down the bear path.

Click on chart to enlarge S&P500 Daily Up For Fifth Straight Day – On Miserably Low Volume – Roll Over This Week

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

These detached markets continue – Bank of America missed and all indexes closed up today.  Google and IBM missed after the close, so we can expect to see some downside at the open.  The US Fed, here to save the economy, is running head on into poorer and poorer results from corporate.  There is no growth, no housing recovery, no jobs – just a bunch of central bankers feeding cash to other bankers – it is getting very surreal.  So if we have a look at technicals, the move up over the last three days has been so violent that it’s hardly budged the moving average that was turned down because of tanking markets.  The next turn down will probably occur without much warning – and will probably occur tomorrow.

Click on chart to enlarge S&P500 Daily Moves Up Sharply On Lower Volume – This Won’t Last Much Longer

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge S&P500 Hourly Shows Nothing But Vertical Ascent – Reversal Should Come Tomorrow

S&P500 Hourly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

 

Click on chart to enlarge S&P500 Hourly Bounce Of 24 Points In Final Hour Makes For An Odd Up Day
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