Dec 10, closed
The March S&P 500 index closed higher on Monday and tested the 62% retracement level of this fall's decline crossing at 1527.80. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, the 75% retracement level of this fall's decline crossing at 1551.75 is the next upside target. Closes below the 20-day moving average crossing at 1473.42 would confirm that a short-term top has been posted.
Dec 6
The March S&P 500 index was higher overnight as it extends Wednesday's rally. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends Wednesday's rally, the 50% retracement level of the October-November decline crossing at 1506.40 is the next upside target. Closes below the 10-day moving average crossing at 1463.91 would temper the near-term friendly outlook in the market. The March S&P 500 Index was up 7.10 pts. at 1503.60 as of 6:03 AM CST. Overnight action sets the stage for a higher opening by the March S&P 500 index when the day session begins later this morning. First resistance is the overnight high crossing at 1503.60. Second resistance is the 50% retracement level crossing at 1506.40. First support is the 20-day moving average crossing at 1467.40. Second support is the 10-day moving average crossing at 1463.91.
Nov 6, pre open
The December S&P 500 index was higher overnight as it consolidates some of Monday's decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If December extends Monday's decline, October's low crossing at 1492.60 is the next downside target. Closes above the 20-day moving average crossing at 1537.04 would confirm that a short- term low has been posted. The December S&P 500 Index was up 4.40 pt. at 1509.80 as of 5:53 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 10-day moving average crossing at 1527.61. Second resistance is the 20-day moving average crossing at 1537.04. First support is October's low crossing at 1492.60. Second support is the 50% retracement level crossing at 1487.00.
Nov 2, closed
The December S&P 500 index closed slightly higher on Friday as it consolidated some of Thursday's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bearish hinting that sideways to lower prices are possible near-term. Closes below October's low crossing at 1492.60 would renew the decline off October's high. Closes above Wednesday's high crossing at 1558.50 would open the door for a possible test of October's high crossing at 1586.50.
Nov 2, pre open
The December S&P 500 index was lower overnight as it extends Thursday's sharp decline. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Thursday's close below the 10-day moving average crossing at 1529.63 has tempered the near-term friendly outlook in the market. If December extends this week's decline, October's low crossing at 1492.60 is the next downside target. Closes above Wednesday's high crossing at 1558.50 are needed to renew the rally off October's low. The December S&P 500 Index was down 2.10 pt. at 1513.80 as of 5:54 AM CST. Overnight action sets the stage for a steady to lower opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 10-day moving average crossing at 1529.59. Second resistance is the 20-day moving average crossing at 1543.03. First support is the 38% retracement level crossing at 1510.60. Second support is October's low crossing at 1492.60.
==============================================================================
Sep. 19 2007 1:00PM
The December S&P 500 index was higher overnight as it extends Tuesday's rally above the 75% retracement level of the July-August decline crossing at 1531.25. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the 87% retracement level crossing at 1555.22 is the next upside target. Closes below Tuesday's low crossing at 1485.20 would confirm that a short-term top has been posted. The December S&P 500 Index was up 5.70 pt. at 1538.80 as of 6:09 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance; is the overnight high crossing at 1540.70. Second resistance is the 87% retracement level crossing at 1555.22. First support; is the 75% retracement level crossing at 1531.25. Second support is the 62% retracement level crossing at 1505.93.
Sep. 19 2007 11:00PM
The December S&P 500 index closed higher on Wednesday and above the 75% retracement level of the July-August decline crossing at 1531.25. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the 87% retracement level of the July-August decline crossing at 1555.22 is the next upside target. Closes below the 20-day moving average crossing at 1489.41 would confirm that a short-term top has been posted.
Oct 21, 7pm Sun
The December S&P 500 index closed sharply lower on Friday and below the 38% retracement level of the August-October rally crossing at 1510.60. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the 50% retracement level crossing at 1487.00 is the next downside target. Closes above the 10-day moving average crossing at 1556.50 are needed to confirm that a low has been posted.
Oct 22, 6am
The December S&P 500 index was lower overnight as it extends last Friday's decline below the 38% retracement level of the August-October rally crossing at 1510.60. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. Closes above the 10-day moving average crossing at 1549.72 would signal that a short-term low has been posted. The December S&P 500 Index was down 11.00 pt. at 1494.80 as of 6:17 AM CST. Overnight action sets the stage for a lower opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 38% retracement level crossing at 1510.60. Second resistance is the 25% retracement level crossing at 1537.00. First support is the overnight low crossing at 1492.60. Second support is the 50% retracement level crossing at 1487.00.
Oct 22, 6pm mareket close
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed firmer today and nearer the session highs, after being under solid selling pressure early on, following sharp losses and bearish weekly low closes on Friday. Bulls are still in some near-term technical trouble and bears still have some fresh downside near-term technical momentum on their side, amid heightened concerns about an impending U.S. economic recession.
Oct 24, 8am
The December S&P 500 index was lower overnight as it consolidates some of this week's short covering rally but remains above the 38% retracement level of the August-October rally crossing at 1510.60. Stochastics and the RSI are oversold and are turning bullish signaling that a short-term low might be in or is near. Closes above the 10-day moving average crossing at 1540.76 would signal that a short-term low has been posted. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was down 9.40 pt. at 1516.00 as of 6:07 AM CST. Overnight action sets the stage for a lower opening by the December S&P 500 index when the day session begins later this morning. First resistance is Monday's high crossing at 1527.50. Second resistance is the 25% retracement level crossing at 1537.00. First support is the 38% retracement level crossing at 1510.60. Second support is the 50% retracement level crossing at 1487.00.
Oct 25, 1am
The December S&P 500 index closed lower on Wednesday as it consolidated some of this week's rally but remains above the 38% retracement level of the August-October rally crossing at 1510.60. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold and are turning bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1549.44 are needed to confirm that a low has been posted. If December extends this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target.
Oct 25, pre open 8:44am
The December S&P 500 index was higher overnight as it consolidates above the 38% retracement level of the August-October rally crossing at 1510.60. Stochastics and the RSI are turning bullish signaling that a short-term low might be in or is near. Closes above the 10-day moving average crossing at 1537.22 would signal that a short-term low has been posted. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was up 2.60 pt. at 1524.50 as of 6:10 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance is Monday's high crossing at 1527.50. Second resistance is the 25% retracement level crossing at 1537.00. First support is the 38% retracement level crossing at 1510.60. Second support is the 50% retracement level crossing at 1487.00.
Oct 26 , pre open 8:44am
The December S&P 500 index was higher overnight as it extends this week's short covering rebound above the 38% retracement level of the August-October rally crossing at 1510.60. Stochastics and the RSI are turning bullish signaling that a short-term low might be in or is near. Closes above the 10-day moving average crossing at 1532.44 would signal that a short-term low has been posted. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was up 0.70 pt. at 1525.80 as of 5:51 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance is Thursday's high crossing at 1529.50. Second resistance is the 10-day moving average crossing at 1532.44. First support is the 38% retracement level crossing at 1510.60. Second support is the 50% retracement level crossing at 1487.00.
Oct 26, Fri closed
The December S&P 500 index closed higher on Friday and above the 10-day moving average crossing at 1534.12 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1548.90 are needed to confirm that a low has been posted. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target.
Oct 29 , pre open 8:44am
The December S&P 500 index was higher overnight as it extends last week's short covering rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1548.40 would open the door for a larger- degree rebound off last week's low. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was up 4.10 pt. at 1546.70 as of 6:06 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 20-day moving average crossing at 1548.40. Second resistance is the reaction high crossing at 1561.80. First support is the 25% retracement level crossing at 1537.00. Second support is the 38% retracement level crossing at 1510.60.
Oct 29 , closed
GENERAL STOCK MARKET COMMENT: The U.S. stock indexes closed higher today. Bulls have regained near-term upside technical momentum recently. However, trading may be more subdued heading into Friday's key Federal Reserve FOMC meeting, in which the Fed is expected to reduce the Fed funds rate by 0.25%. Also, the important U.S. employment report is due out Friday morning.
Oct 30 , pre open 8:44am
The December S&P 500 index was lower overnight as it consolidates some of last week's rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near- term. Closes above the 20-day moving average crossing at 1547.81 would open the door for a larger-degree rebound off last week's low. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was down 4.60 pt. at 1542.40 as of 6:04 AM CST. Overnight action sets the stage for a lower opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 20-day moving average crossing at 1547.81. Second resistance is the reaction high crossing at 1561.80. First support is the 25% retracement level crossing at 1537.00. Second support is the 38% retracement level crossing at 1510.60.
Oct 30 , closed
The December S&P 500 index closed lower due to profit taking on Tuesday but remains above the 10-day moving average crossing at 1531.71. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1547.50 are needed to confirm that a low has been posted. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target.
Oct 31 , pre open 8:44am
The December S&P 500 index was higher overnight as it consolidates some of Tuesday's decline. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near- term. Closes above the 20-day moving average crossing at 1547.00 would open the door for a larger-degree rebound off last week's low. If December renews this month's decline, the 50% retracement level crossing at 1487.00 is the next downside target. The December S&P 500 Index was up 5.00 pt. at 1541.00 as of 6:00 AM CST. Overnight action sets the stage for a higher opening by the December S&P 500 index when the day session begins later this morning. First resistance is the 20-day moving average crossing at 1547.00. Second resistance is the reaction high crossing at 1561.80. First support is the 25% retracement level crossing at 1537.00. Second support is the 10-day moving average crossing at 1530.50.
Oct 31 , closed
The December S&P 500 index closed higher on Wednesday and above the 20-day moving average crossing at 1547.55 confirming that a low has been posted. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20- day moving average opens the door for a possible test of October's high crossing at 1586.50 later this year. Closes below the 10-day moving average crossing at 1531.65 would temper the near-term friendly outlook in the market.
