Daily ramblings

1:42PM
SPX 1081 is a target if 1085 breaks lower. last is 1089 spx

12:49
my charts show mixed signals, more bearish ones,,, it "seems like" they will pump it up, but the charts say otherwise. they suggest a move to 1092.50 spx at most, and then lower
 
12:40
if spx <1086 downside momo could pick up. Last SPX is 1087.

12:39
SPX continues the slow deline, as expected, hugging its downtrend support line

12:29
vix still not a threat to bulls...but is throwing a warning... the gap up found gap support and has reversed up. also, the vix has broken out of ts downtrend intraday and is now warning of poss breakout higher. Last VIX is 21.47
 
11:51
ES stalled at 1083 as expected. Impt. support there. Charts say it will break lower, but the bulls might hold it anyway. Support and resistance always over rule, so lets see if the 1083 ES holds or breaks. It could take 3 tries to break ES 1083, it is breakout support as well as prior low support.

11:47
ES declined as expected to the downside at 1083. My SPXU (3x ultrahort spx) is doing nicely, took some profits on it, holding the rest for more.

11:29
ES testing support at 1089 again. charts suggest it will break lower, tho it has held thus far.

10:49
SPX is now just under its support line again (bearish).

10:38
what just happened? the SPX broke through its 15minute uptrend slightly, and is now back testing it. if it can climb above it, then higher spx.  its testing it now...if it doesnt crawl above it and susatain, then the low will break. I also show the spx pushing up against an intraday R line (the sharp one). there is another intraday R higher up.
 
right now, spx is in limbo betwen the uptredn line and R line down
 
 
10:33
es fell short of the 1091 target at 1090.50 and bounced down as expected. The 1091 held as expected, so far. bulls want to hurdle that. bears want < 1095

10:24
the previous bounce from 1088 stopped right at my 1093 target, with no overshoot to 1095. Now lets see if ES can hurdle 1091.

10:18
the charts suggest a resolution up or down around 11:11 AM at current velocity. bias is down. looking for downside breakout then.

right now.10:07
 ES just hit 1093 and backed down. see if it hurldes it or not.

10:04
Bulls want ES over 1095. Failure to hurdle 1093 likely will result in a break under 1088 for lower ES prices.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".