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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (43112)	1/4/2013 4:10:30 AM
From: Vendit™	1 Recommendation Read Replies (1) \| Respond to of 219721

I am looking for a flat to slightly lower close today on the $SPX based on the chart below which has become neutral to slightly down via its lower indicators. Candlesticks I also see a mild short term bearish reversal in the chart’s candlestick pattern. (An evening star yesterday) Moving Average Convergence Divergence I removed the MACD fast and slow lines which leaves only its “histogram”. This is a slower moving indicator but it is currently showing a flat line in momentum. (Equal MACD histogram tops instead of rising or falling) Bollinger Bands Lastly you have to note that the $SPX daily trading range has now spent two days “above” the upper Bollinger Band which is a measure of an instruments’ “Normal” trading range. Since this is not normal and cannot continue we can expect a shorter term reversal back to the down side and a move back down inside of the Bollinger Bands. (Unless Obama cranks up his printing presses again today) If this happens we can be assured that GZ will be eating Hibachi steak this evening. <G>