Market Comments for 4.25.19

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.

 

 

 

Rotation – I forgot to mention earlier that there appears to be rotation, rather than correction taking place at this moment…

Notice the Dow futures are decently in the red, while the Naz futures are in the green, then the SP00s are about flat… watching.

 

 

SP00s – Still in meetings, but what we’ve seen thus far this morning is a move from the top of the flag channel line, to the bottom of the same, and now back to the top…

It appears the SP00s will be breaking out upward to the next level, which is the former SP00 ATH from last September, at 2947…

My SAR swing system remains long from 2910… watching.

 

 

SP00s – And I’m back in the office… good meetings that will be profitable for a long time to come…

At 11:30 am Denver time, the SP00s are back in positive territory, with the price bars and the momentum indicator line appearing to be ready to push upward through their respective DTLs…

I added the extra DTL on the price so you can see how freaking orderly the markets behave: that is about 1 standard deviation from the channel line that had been established…

Then also the momentum indicator line dropped precisely to the top of the gray zone support level, found support and a reset, as I said earlier, and is now ready to move back upward…

My SAR swing system remains long from 2910… watching.

 

 

SP00s – Okay then, the 1:00 pm bar just closed here in Denver, with both the price bars and the momentum indicator line on the 60-min SP00s chart above their respective DTLs…

This is not a guarantee that prices move upward from here, but it is a good first step… watching.

 

 

SP00s – HA! Just when you think you know what’s next…

The SP00s end the day back down at the lower end of the trading range, after achieving a close on the 60-min price chart above the DTL…

This reversal is a failure, and potentially also a reversal, as you can see from the 240-min SP00s chart, the momentum indicator line is on the verge of crossing downward through its UTL…

At the close my SAR swing system remains long from 2910, but will reverse to short unless prices recover in the globex session… watching.

 

 

 

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