Nothing changed much, IMO, but the IT is still up - maybe resting/slowing. TWT, Chart updates.
Short history sent to a closed group.
02/24/12 @ 10:36am - IMO, the Mkt. is weak but has a 70% chance of grinding higher. Still see 1377, pause, 1400, then a retreat to 1332-which must hold or we see 1213
03/14/12 @ 1:25pm In my opinion, (02/24/12 statement), yes it is valid but if 1332 does not hold the new number IMO is1302 instead of 1213.
03/15/12 @ 4:28pm My best indicators have flattened or turned down. Have none that are up.
03/22/12 @ 8:07am All of my indicators have turned down, HOWEVER, my IT & LT weekly and monthly are still positive, ST weekly is negative.
SPX price high reached 1414.00 on 03/19/12. Expect a retrace to 1397ish, WHEN this fails then 1377 comes back into play.
I think we get a retest of the 1414 area also, but not till later next week.
There is strong TA support for a continued price advance after a short consolidation or "resting" period.
Funny market, the strangest I have worked in 50+ years of trading.
Have fun. JMOFWIW
mss
A break of the YELLOW channel will be telling -----
http://stockcharts.com/c-sc/sc?s=$SPX&p=30&yr=0&mn=6&dy=0&i=p76372851967&a=255070798&r=8011.png
Edited by mss, 29 March 2012 - 09:36 AM.