Tuesday Noon – 1057.50
the 1042 target was met. price moved to a further low of 1035 where the lower median line offered support.
Mobility oscillator turning up and Ben’s PTI turning up.

Long Term –
in uptrade to 1087. pressures remain up, but showing divergences on the weekly. 1005 starts the new downtrade.

Daily –
in a downtrade to 1021.50. selling pressures are extended. a close above 1059.75 starts the new upmove to 1082.40.

Intraday –
pressures down but price holding. the 1067 target almost met at 1065.75. 1055 will start a move down.

Sunday Nite. S&P 1060.25

daily –
currently in uptrade to 1085. a close below 1048 sets down target of 1015.

Intraday –
currently inside a longer cycle uptrade to 1072, 1064 has triggered a short term down entry. next target 1052 then 1042.

WED nite closed 1063.25. got the “slice” thru 1046.

long term –
1028 looks to be support with the next target at 1101. 872 is the entry for a short. both selling pressures and time pressures are now down.

daily –
1073 and 1094 are the next targets. 1041 will trigger a short entry to the 1029-1019 area. all indicators are very extended, so any move down will be quick. we have entered the downward time pressures thru 9-24.

intraday – at targets, expect consolidation and retracement. next targets up 1068/1082. a trade down thru 1060 creates the 1053 and a 1046 downside target.

Thursday close 1037.25

Long Term –
all long term targets remain the same. 1046/1055/1129

daily –
has moved thru the entry price for another move up to first the 1046 target and then to a grouping around 1090. 1017 starts a new down move.

Intraday –
last weeks 1006 entry resulted in the move to 1034. the pull back gave us the new entry of 1028 this morning. the next target is 1043. which is in confluence with daily and weekly targets of 1046, so expect some consolidation there. if it slices thru 1046 then we have a different market on our hands. It does feel a little panicky on the upside, in some sectors… many gaps thru stock entry levels and no pullbacks to allow sensible entries.

Tuesday nite, S&P close @ 993

the S&P moved up to 1038 on the follow thru from 1025; consolidated a bit, then moved down thru the 1016 short entry on Monday, the 1st of september, hitting the projected 1001 downside target by the days end.

Long term –
the upmove was stopped near the 38% retracement. buying pressures remain up, but time cycles are down. a 38% retracement down from here would get to 894. a move down thru 843 will start a down move to the old lows. see the aug 21 chart – getting above those trend lines from the old highs would be a significant accomplishment in terms of removing the bear market fears. failure would reinforce them.

daily –
fell short of the 1046 target on the upside. met the projected target of 1001. the next down target is 982-971. on a larger cycle, a break down thru 969 will give us a new downside target of 899. all pressures are down.

intraday –
the current target of 994 is acting as support – also sitting on the lower medianline. downward time pressure comes off on 9/4. need a trade up thru 1006 to start a short term up trade.

S&P 1025.50 Friday close

Long term –
monthly is at the 1025 target. weekly has traded thru the confluence of the 1019 38% retracement and a 1017 target. expect consolidation and retracement here. next weekly target 1053. a trade down thru 831 will start a down move to 634. Buying pressures remain extended up.

daily –
traded thru the 1011 target bringing 1046 into play. the short correction this week has cured some of the overbot condition which may help the move up to 1046 early in the next week. a move down thru 957 will start a new down move to 867.

intraday –
Monday, a move down thru 1016 should start a correction to 1001. we moved 28 points low to high on friday, so be careful of these short term trades. targets don’t mean much if you are inside the normal volatility.

many conversations on TV about the huge amount of dollars waiting to be invested … there are always huge dollars available to come into markets when they are ready. the press loves to attribute the daily $Trillions of worldwide buy and sell decisions to a single data point.

They never asked who was buying all that stock, and why, that was sold at the S&P-669 bottom in March.

Long term –
the 1025 target is in reach. the weekly 1015 target was met today , with the high of the day at 1016. many “lines in the sand” here. the next up target is 1052. the 38.2% retracement of the entire move down is at 1019. the nasdaq is near it’s 50% retracement of the downmove, outperforming the the S&P. both have very extended buying pressures. we are now in the 6th month of this rise – in a usual cycle of 8-10 months. we are in the 4th week of this second leg up on the weekly. 820 sets up a down move to 624.

Daily –
met the 1011 daily targets. the next up target is 1046. downward cycle pressures til 8/11, then upward pressure til 8/19; then i see the dominant cycle peaking, ushering in more significant downward pressures. 7 days into this upmove, buying pressure showing divergence. 944 starts a downmove to 874.

SDS – described certain buy & sell points previously. no entry was triggered.

S&P close 981.25.

oil – dollar – gold; all seem to be trading on comments out of china vis-a-vis china’s committment to continued stimulus for domestic growth. As the dollar declines, oil and gold rise.

Long term – pressures still pushing up to the 1025 monthly target. weekly pressures fully extended up. next target 1015.

Daily – the long entry point at 938 set up 993 which was touched today. 1011 and 1045 are the next targets, but showing divergences here at these levels. 925 will start the down move.

intraday – a trade down thru 977 produces a price objective of 962-955. a trade back up thru 993 keeps this rally alive.

! watch your SDS’s. EP 48.24 > 50.19/52.13 – Stp @ 46.30

Long Term –
continuing pressures up into the long term down cycle. next target up is 1025. a trade down thru 755 will signal failure and a new move down to new lows. this long term down cycle ends 10/29/09. we are challenging the recent highs at a confluence of many targets. a trade thru 964 sets up a shorter cycle target of 1015.

daily –
the 938 entry point is triggered next target is 993 and 1011. 884 will restart the down move.
extended pressures suggest this move up needs a pull back; then look for a second leg up.

last weeks numbers are still intact.
Weekly – last weeks high is 898.25, 939 restarts the upmove. pressures are fully extended down.
there is a reverse head and shoulders pattern forming. a trade down to the 836 “neckline” will give support to a new up move.

Daily – S&P broke down thru the 884 short entry, which was also the “neckline” on the the much publisized daily head and shoulders pattern. The decline was stopped at an old upside target. down cycle pressures ended today and the price reversal today put us back above the neckline. If this 890 price level holds and trades above 899 (31.8% retracement of the recent up move) then it will be properly classed as a head and shoulders “failure” – with an attendant move up.

But for the moment, we are having a retracement up in a down move to 815; keep very tight stops as the time cycles and buy/sell pressures are turning up. 928 voids the down move.

Wed July 15th – have moved up out of the down channel. 938 will trigger the long entry.