SP00s – the SP00s start the day just below yesterday’s regular trading session close, though did attempt to rally overnight…

Just below the present price is the approximate 20-DMA line, which should act as a price support here, and the momentum indicator line is also nearing the top of the gray zone support level which should also provide support, if not a bounce…

This is merely a needed correction to work the overdone momentum indicator line, and should recover in the near future…

My SAR swing system remains short from 2944… watching.

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SP00s (pre-opening comments) – the SP00s start the day just a bit in the red… when I posted six hours ago, I said IF they could hold their gains, then the SPX could gap across its previous ATH, but it appears that will not be the case today…

What’s most typical is for a consolidation to take place, to build the necessary thrust to push through… I was speaking last night with the information I had at the time…

Forecasting and trading is much like performing improv on a stage… you may have a general idea of the direction you’re going at the start, but then new information is added, and you IMPROVISE to that new information, or you die the death of the stubborn market participant…

FLUID is how the markets are, so fluid is what you must become, ever ADAPTING to what the markets are, or off the stage you’ll go in humiliation…

The ST, IT and LT trends are up, and at the time of this post, my SAR swing system remains long from 2910… watching.

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SPX – It was on 1.4.19, when I forecast that the SPX would be at new ATHs in months, not years (or ever), when most were calling for another drop akin to the 2009 event…

I was called crazy and many other things I cannot repeat here, but would you look at that… the SPX closed at a new ATH on a closing basis…

If really find it amusing now, that those same pundits are saying, as the SPX is pushing to new ATHs, that this is just the beginning… why weren’t they making these observations four months ago with me?!?!

This is the SPX daily chart as of today’s close… there’s a bit higher to go before a 5%-6% pullback, then another push to even higher ATHs in the fall… watching.

Link to larger chart:  Link 

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MARKET BREADTH – someone every trader should follow is Tom McClellan, son of Sherman McClellan, who created the McClellan Oscillator…

Without going into the maths, there are several versions of this oscillator that measures market participation (breadth), and based on present readings, this market has quite a bit of life left in it…

Here is an excerpt from Tom’s free weekly newsletter:

The basic point which matters right now is that the ability of the RASI to climb up to a nice lofty value conveys an important message.  It says that liquidity is plentiful, and that is a condition which is likely to continue for a while longer.  A high RASI reading says that there is still more uptrend yet to come.  There might be an ordinary, garden-variety correction to help restore equilibrium, but we are not at the end point for the uptrend.

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SP00s (pre-opening comments) – the SP00s start the day essentially unchanged from yesterday’s regular trading session close, though through the globex session, they’ve developed into a bullish flag formation up there at the top of the trading range…

I have business meetings for most of the morning today, but keep tabs on things via @investingcom mobile app, so if something out of the ordinary develops, I’ll make time to chime in…

The ST, IT, and LT trends are upward, and as of this post, my SAR swing system remains long from 2910… watching.

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SP00s (pre-opening comments) – the SP00s start the day at about where they ended yesterday, though have been slightly above and below, yet never hitting the 2940 mark during globex…

2947 is the former SP00 ATH, and that may be reached today, as there are many companies set to release earnings reports today, a few before the open, though most after the close…

The ST, IT and LT trends remain upward, and my SAR swing system remains long from 2910… watching.

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SP00s (pre-opening comments) – the SP00s start the day slightly underwater, though essentially where my signal reversed back to long yesterday afternoon…

Short of a rally at the open, it appears my SAR swing system may be delivered its first back-to-back loss in the year I’ve been featuring its signals in real-time… watching.

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