This report was sent to subscribers on 12/29/09 6:00 p.m. Chicago time to be used for trading on 12/30/09. Everything is done by Howard Tyllas, no program or black box.
March S&P
After the close on 12/30/09: My pivot acted as resistance and was 1121.50, just 1.00 from the actual high, and my support was 1114.75, just 1.75 from the actual low.
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1135.00 |
1128.50 |
-------------1121.50 Pivot |
1114.75 |
1107.00 Bracket line support |
|
Trend |
5 day chart ......... Up |
Daily chart ......... Up |
Weekly chart ........ Sideways |
Monthly chart ...... Sideways 972.80 the 200 DMA |
ATR 10.70 Overbought 83% |
Bullish chart with bracket line resistance (red) now becomes support at 1107. Below there is the uptrend line (green) key support.
You need not waste time to have confidence in these lines. As you can see with up and downtrend lines, you connect the lows to make uptrend lines, connect the highs to get the downtrend lines.
March S&P for 12/30/09:
In my daily numbers on Tuesday; my resistance was 1.75 from the actual high, my pivot acted as support was 2.00 from the actual low.
Who needs fundamentals when you have numbers like these?
S&P: Resistance was 1.75 from high, and support was 2.00 from the low. More of the same. I did not like the way the market made a new high for the move (and year) and closed lower on the day. This is a bearish signal or at least a bearish bias for Wednesday's trade. I would try and sell a rally.
Commentary for 12/29/09
S&P: Helpful numbers. More of the same thoughts as yesterday.
Commentary for 12/28/09
S&P: 4 ticks from the high and 3 ticks (.75) from the low.
Commentary for 12/24/09
S&P: Spot on numbers and comments. I think the same thoughts, and watching the slow march to the upside.
Commentary for 12/23/09
S&P: Spot on numbers! Good call for a new high on Tuesday without any fanfare for a "big" rally or create excitement for a "pipedream" day trade. Same thoughts for today. We should march to the upside but falling short of my first resistance and then maybe a sell off to my 1106.50 support. S&P's has a tendency to get a Christmas rally and firm tone through the last day of the year.
Commentary for 12/22/09
S&P: Spot on numbers! Chart looks firm, and I look for a new high just above the first resistance but below the second resistance. I think the low today will be somewhere between the pivot and the first support.
Commentary for 12/21/09
S&P: Spot on numbers! Same thoughts as on Friday but just under the resistance to just under first support.
Commentary for 12/18/09
S&P: Spot on numbers! My bias is still down and I am looking for a high today just over my resistance, and a low not too far under my pivot.
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Howard Tyllas
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Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.
