S&P Futures

esday1

the stimulus theater has frozen the market.  two rallies have been unsucessful in breaking out of the sideways channel.  so trade inside the channel. 

Monthly – trading between 942 and 738.  the downward trending medianline acting as the pivot.  need 916 to start a retracement up.  724 will restart the down trend.

weekly – 848 has started a weak retracement up with the next price objective of 899.  796 will stop the trade.  pressures down thru 2/20.

daily – trading between 796 and 877.  this cycle ends 2/13. and is at a confluence with a price objective.  look to the intraday to trade.

flat – intraday is extended down and has met a price objective.  needs time to cure.  Lower median line support at 805 ; declining .25 per hour.