Ping Pong Game.

The s&p got down to the lower support after a trend down day last Friday, and today we bounced and it seems to be holding. Seems to be a bit of a ping pong game the last few days, leading up to the November elections. Looks like Obama is going to get in, I think.

As you can see, the tick data after fridays downwards day was hinting that things were a bit OVERDONE and a bounce was due, and that is what we have so far. There is still some room to move on the upside in the short term!. 

There are other indicators that I share with my VIP clients that is suggesting a NICE move is coming soon. To the upside, or downside???, I will let you be the judge of that, but I like what I am seeing at the moment, and things sure are setting up nicely.



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Advance Decline indicators.

Even though the market is not out the woods just yet. Have a look at the leaders advance decline chart. As you can see we dipped down into the -200 area, an area seen as good support or a BUY ZONE AREA. And from there we have seen some buying over the last few days, as predicted.

Once we cross the Zero 0 Line, that will give a more stronger buy signal, it is close but still not there.

Even though the US is getting over the hurricane damages, and the market is back trading, It seems that in the short term we are bullish for now, with one day left this week.


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The Range Continues

The markets are finally open after Hurricane Sandy shut down the exchange for a few days. Taking a look at the charts, the range continues on S&P 500 as we come back from Hurricane Sandy. This 20 point range is holding, and the dancing around seems to be continuing so far.

I do suspect we are going to see some green today but. Maybe even nice healthy green.

The hourly chart is still suggesting a bit of upwards momentum is due, even though we have had a whole week or so of nothing.

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