Monthly_
trade pressures are up. volume is bullish.
the next target up is 2212.

Weekly_
Trade pressures are neutral. volume is bullish.
the next target up is 2103.

Daily_
Trade pressures are up. volume is bullish.
the next target up is 2007.

a move below 1969 could signal lower.

Monthly_ the upside target remains 2193.  Trade pressures over-bot.

WEEKLY_ Upside target is 2118.  Trade pressures down but beginning to be oversold.
the 1916 short entry has been touched, but price has not closed below 1916.

The Daily trade is short from 1958 with targets of 1914 and 1871. currently consolidating around the 1914 target.
Trade pressures have bottomed and are turning up. Volume is up the prior day.

need a close up above the 1933 long entry to turn this trade up.
this would be a new move up to 2004.

Monthly_ Pressures remain up. the next target is 2193.
Weekly_ Pressures are up. the next target is 2122. the short entry is 1916.

Daily_ trade pressures are up. the volume is still green but declining.
the next target up is 2066.  some support is provided by older targets at 1951.
The psychological target is the 2000 on the  S&P cash, which is 1978 now (a 6pt difference).

the MACD is trying to turn back up; but if not then a sell entry could be triggered at 1958.

the intraday (60 min) chart is currently short from 1976 with target at 1963 and 1950.

………….

the money flows from abroad are in our direction as evidenced by the rise in the dollar and the TBonds.
gold does not seem to reflect any major geopolitical dislocation.

earnings flows from individual stocks seem to be the order of the day.

Monthly_ trade pressures are up, volume remains bullish. the upside target is 2193.
Weekly_ trade pressures are up and volume is bullish, the net target up is 2098.

the Daily Trade is long from the 1835 entry price in April.  the 1963 target was almost completed on June 23rd.
the trade pressures are flat. the volume pressure remain up.

a move down thru the 1932 short entry could signal a correction to 1889-1845.
this entry has been approached by  both of the last two day’s lows.

the cash SPX in the chart above shows a break down thru the lower median line; pay attention.

Monthly – trade pressures and volume pressure remain up. the target remains 2223.

Weekly_ trade and volume pressures remain up. next target up is 2096.

Daily  – trade pressures and volume pressures remain up.
consolidated briefly at the 1906 and 1914 targets.
then with the announcement of easing interest rates in Europe, two good up-days have broken out of that consolidation.
the next target up is 1956 and then 1970.

The 1970 target is a 100% move off the Feb 5th correction low.  so, look for significant resistance there.

a break below 1822 could signal a corrective move down to 1879.

 

[June 18th: have tested the short entry last week, never closed below. now moving to the 1970 target.
an up volume day today.]

Monthly- pressures remain up and the next target up is 2219.
weekly-  pressures are up, but declining. the 1883 target has acted as support. the next target up is 2098.

Daily- in the long trade up. the next target is 1907 and 1914.
pressures are up but getting extended.

a move down thru 1877 would signal lower.

Copper and oil moving up, the dollar getting a little stronger.
the T-bonds are looking for a small correction.

the market keeps worrying about the Fed starting to sell off the bonds in their portfolio.
Will never happen – unless they want to cool some inflation.
Most probably, the FED will let their portfolio of bonds mature and turn into cash on the FED balance sheet.
then they can choose to send the money to the US Treasury or “destroy” the funds in the same way they were “created” in the first place.

Monthly_ the pressures are up the next target up is 2223.

Weekly_ pressures remain up, but the trade is down with a 1776 target.
a close above the 1892.50 highs would cancel that short trade.

Daily_ pressures are just down, the trade remains long from the 1842 long entry.
have to remember this long trade is inside the weekly short trade,
so probably can’t go far unless the 1892.50 highs are taken out.

a close below 1861 could restart the Daily short trade.

Monthly_
still long consolidating at the 1853 target. pressures remain up.

Weekly_
short next target down is 1776. pressures remain up.

Daily_
Pressures are up. in the long trade from the 1842 entry price.
the next target is 1906. significant resistance at the old highs of 1892.50.

a close today (Friday into the weekend) below 1861 could start a new move down.
the next target down would then be 1827, then 1793.
the older unmet target of 1778 is just below that. and the weekly target is 1776.

geopolitical events can make this happen quickly.
but it is interesting that gold, that shiny rock of fear, does not suggest disaster.

Monthly_ still long with a 2223 target. 1761 is a recent target that should act as support.

Weekly_ has traded thru the 1823 short entry and is projecting a 1776 nearby target and a lower target at 1709.

Daily_ (which is the trading time frame)
had signaled a move down from 1865 and then triggered a second leg down from 1852 this last week.
so, now there is a lower low.
the 1805 target was almost touched on Friday with an intraday low of 1807.25.
the next target is 1778 with perhaps an excursion further down to 1767.

need a close above 1847 to turn the market long again.

lower mortgage originations took the bank prices down. could see the fed respond with lower rate talk.

Monthly_

have reached the 1853 target. the next target up is 2223.
the old 1761 target has acted as support.

Weekly_

the 1863 target is reached. the next target up is 2098.
the weekly trend remains long until a trade below 1823.

Daily_ the trading time-frame.

the March 7th high of 1880 traded thru the 1868 target then produced some wide ranging consolidation.
a short trade was triggered at the 1851 level but had no follow thru and was stopped at the moving averages.
the excessive daily ranges would have precluded any trades

Last weeks low volume action traded thru the 1880 high but was unable to hold the level.

as the high beta stocks were sold,  the market moved back below the 1868 target.

technically the move is still long from the 1862 trade with 1919 as the next target up.
but the move down on Friday feels as tho the 1823 lows may be tested.

[Update: Wed 4/10,  is closing near these lows]

a move below the 1823 lows resumes the short trade to 1766. First target down is 1805.