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January 24, 2014: Sellers return with prejudice to break prices lower as Buyers remain sidelined. Technical damage will require time to repair.

01-27-14 SPX Daily Headline Chart

The technical damage from Friday’s decisive thrust lower and loss of multiple layers of support cannot be denied. It will require time to repair this damage while market participants search for an acceptable level entice Buyers. Although the intermediate term technical dynamics are very poor, prices are extremely short term oversold and an imminent reflex […]

January 23, 2014: Sellers rush in to break prices lower with Buyers on the ropes.

01-24-14 SPX Daily Headline Chart

January 22, 2014: A quiet session after successive volatile trading days is normal…but…

01-23-14 SPX Daily Headline Chart

January 21, 2014: Welcome back to volatile trading after a 3 day weekend.

01-22-14 SPX Daily Headline Chart

Indices were very volatile to start the holiday shortened week as Buyers were unable to maintain early strength and quickly tested multiple lower support levels. Perhaps exaggerated by an east coast approaching winter storm or pent upon buying/selling orders after the holiday, but regardless of the reason, important moving average support was retained.

January 17, 2014: Indices are at an inflection point following another test of new support. Although likely a function of Friday’s options expiration and pre-MLK holiday positioning, it is important that longer term support is retained.

01-21-14 SPX Daily Headline Chart

January 16, 2014: Equities take a breather after a volatile couple of sessions. The pause to digest gains is healthy. Friday is an options expiration and last session before the MLK holiday. Caution warranted as risk of random price spikes (up/down) is elevated.

01-17-14 SPX Daily Headline Chart

January 16, 2014: Sellers are overwhelmed by follow thru higher validating Tuesday’s sharp rebound and bullish reversal. The intermediate/long term rally continues.

01-16-14 SPX Daily Headline Chart

January 15, 2014: Buyers return to rescue prices and recapture moving average support. But follow thru higher is required to validate a bullish reversal and resolve an indecisive “Inside” pattern, otherwise the projected lower price targets remain intact.

01-15-14 SPX Daily Headline Chart

January 13, 2014: Sellers overwhelm weak Buyers as Market Participants reject a fragile rebound with enthusiasm. Multiple layers of support are violated with an extended corrective phase developing dependent upon the quality of an anticipated oversold reflexive bounce.

01-14-14 SPX Daily Headline Chart

January 10, 2013: Equities remain rather constrained after a somewhat confusing Non-Farm Payroll report. Prices were marginally higher following the report, but primarily due to Sellers moving to the sidelines and not overwhelming buying.

01-13-14 SPX Daily Headline Chart