Market Observations for 4.29.19

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.

 

 

 

SP00s – At the 10:00 am bar here in Denver, so far, the consolidation is taking place on the green side of Friday’s close…

The SP00s are presently pushing back upward to the highs of the day, and to their own ATHs mark of 2947…

The ST trend remains upward and my SAR swing system remains long from 2910… watching.

 

 

SP00s – BOOM… 2950s… NEVER doubt the momentum trend line…

 

 

SP00s (post-closing comments) – the SP00s end the day with a minor sell-off, though it wasn’t serious enough to trigger a reversal, and they still did manage a positive close…

It’s possible it was simply a matter of back-testing the price DTL, or simply nerves, regardless, the ST trend remains upward, and the past target on this leg is up at the ~3040 range…

At the time of this post, my SAR swing system remains long from 2910… watching.

 

 

 

SP00s – Here’s the daily SP00s with two different settings on the momentum indicator line…

The fast setting is now showing negative divergence of price versus momentum, though the slow setting is not – both have made a couple touches on their respective UTLs, so are showing some vulnerability of a reversal… watching.

 

 

 

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