Lack of regular Posts

I have the Flu hence the lack of regular posts. Will pick up steam soon.

S&P Futures Update for Feb 1, 2012

All Trends are still UP. Keep the monthly chart in my last Blog post front and center - the upside breakout remains intact. The 1461-62 area is Support. The last 5 days is a Balance Area with no meaningful Excess at the highs. Short term Support is 1490 area, however keep in mind that this level has been probed several times - the more times we probe an area - it lowers the odds that it will continue to provide support. A break of 1490 targets 1481 and lower Gap at 1469.  References on the Upside - the next weekly high is 1508.75 and the next monthly high is 1519.50  . The employment report due out tomorrow should provide some volatility.

S&P Futures Update for Jan 28, 2013

 
All trends Daily, Weekly and Monthly remain UP. The 1461.75 level on the monthly is now support. On Friday, the S&Ps came within 3 ticks of the 1500 level - that remains the upside focus. If there is to be a correction or short term pull back - it will occur from these levels.



The first sign of a correction will be price and value building below Friday's pull back low at 1494. Both Thursday and Friday show poor lows  - odds are that these get repaired this week. There is short-term support at the single prints - 1481.75. Price acceptance below 1481.75 targets the lower Gap at 1469.