Market Comments for 4.1.19

SP00s (pre-opening comments) – as I said last night, the price DTL on the SP00s would cause a pause in price in the ~2960 range, and the globex high is 2861.12…

The next pivot resistance to overcome is just above at 2866…

My SAR swing system remains long from 2818… watching.

 

 

 

SP00s – 30-minutes into the regular trading session and the SP00s are holding their gains and pushing upward to the next price resistance of ~2866… watching.

 

 

SP00s – At the 10:00 am MST bar, the 240-min SP00s chart closed just above the DTL though has not yet pushed above the ~2866 pivot resistance…

The momentum indicator line is also starting to hook back upward, reaching for the last DTL overhead…

My SAR swing system remains long from 2818… watching.

 

 

SP00s – BOOM… new swing highs on the SP00s… AND new highs also on the NYSE cumulative advance/decline line – $NYAD…

Market breadth is excellent and leading the way… new ATHs in price soon…

 

 

 

 

SP00s (post-closing comments) – last week I mentioned in real-time that I thought the price compression that was taking place was an ending diagonal triangle that truncated, and that price was going to explode upward…

I further mentioned that price needed to break above the DTL and the previous pivot high of 2866…

Both occurred today, with the SP00s closing above both to end the day…

The momentum indicator line on the 240-min SP00s chart is now approaching its final DTL, where it will likely pause, though at this point, this week or next, we should be seeing new ATHs in the SP00s…

My SAR swing system remains long from 2818… watching.

 

 

 

SPX – Last week, when the momentum indicator line on the SPX/SP00s daily chart was rejected twice by the DTL, I said the pattern had just happened two weeks previous, and after a pullback, the momentum indicator line would push upward through the DTL…

That happened today, and with the setting shown here, there are no other DTLs above, so momentum should be free to continue upward for now… watching.

 

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