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February 7, 2014: End of week buying/short covering pushes prices higher.

02-10-14 SPX Daily Headline Chart

End of week buying/short covering pushes equity indices higher as traders react to Friday’s Non-Farm Payroll report.

February 6, 2014: Prices spring back, but reaction to Friday’s NFP report could foil a nascent bullish reversal.

02-07-14 SPX Daily Headline Chart

Prices spring back, but overhead resistance will be formidable and reaction to the Non-Farm Payroll report awaits. Reaction to the report should determine the sustainability of a nascent trend reversal. Volume will return as well to confirm the next extended price move.   The current inflection point of a bullish reversal pattern up against layers […]

February 5, 2014: A lackluster session dips to another “lower low” reaffirming the descending trend.

02-06-14 SPX Daily Headline Chart

A lackluster session dips to another lower low reaffirming the descending trend. However mid-session buyers step up to rescue prices and end with a daily bullish “Hammer” pattern.

February 4, 2014: A minor retrace of Monday’s losses relieves oversold conditions.

02-05-14 SPX Daily Headline Chart

The selloff pauses with a minor retrace of Monday’s losses to relieve oversold conditions. However, the “Inside” pattern only postpones the inevitable drop to test the 200 Day Moving Average as “Inside” patterns normally resolve in the direction of the current trend. Any continued rebounds into overhead resistance before a test of lower prices, offers […]

February 3, 2014: Start of month new money fails to protect prices as selling accelerated following loss of nearby price support.

02-04-14 SPX Daily Headline Chart

Start of month new money fails to protect prices as selling accelerated following loss of nearby price support.   Enhanced charts and commentary now available at the Daily “Implied Volatility Bands” page.

January 31, 2014: A fragile bullish countertrend reversal is under pressure as end of month Buyers fail to follow thru higher.

02-03-14 SPX Daily Headline Chart

A fragile bullish countertrend reversal is under pressure as end of month Buyer fail to follow thru higher.

January 30, 2014: End of month Buyers rush in desperate to defend performance and stem the selling.

01-31-14 SPX Daily Headline Chart

End of month Buyers rush in desperate to defend performance and stem the selling of past week. Although a Bullish reversal pattern is developing, it appears to only be a countertrend rebound and likely to fail at significant overhead resistance.

January 29, 2014: Equities are overwhelmed by selling following the FOMC meeting announcement. Wed’s “Lower Low” is a defining requirement for a descending trend with continued selling expected.

01-30-14 SPX Daily Headline Chart

January 28, 2014: Sellers take a breathier as prices bounce back to relieve extreme oversold conditions. Caution advised as reaction to the FOMC meeting awaits.

01-29-14 SPX Daily Headline Chart

January 27, 2014: Early strength fails as market participants remain uncertain amid poor technical dynamics and disappointing corporate earnings. Risk Off bias will continue until financial markets regain clarity.

01-28-14 SPX Daily Enhanced Chart

Enhanced charts and commentary now available at the Daily “Implied Volatility Bands” page.