SPX 3-28-12

Whipsaw Wednesday? Market looks a little weak right now but like yesterday, I expect the range to be tight. VWAP STD bracket shows a current range of 1405-1411. Of course some volume at open will likely widen the brackets a bit so who knows. Just call me confused.

Bullish target has to be 1420-1440.

Bears must take out 1403 (10 day),1398 (13 day),1386 (3/23 low and 20 day) to even have me start thinking that a top is in.

Happy trading.

SPX 3-23-12

I am frankly clueless this morning. The close of yesterday had me thinking double-bottom with a rally in store for today but, it appears that rally occurred overnight followed by a whipsaw back down. That said, we are now in the midst of a bounce. Onus is on the bears to turn it downwards again. Support is clear here -- 1382.50 ES must break or buy buy buy.

SPX 3-12-12 Update

Sorry that I'm a little late this morning --- I do have a job in case you wonder.

ES went back and forth overnight which is not atypical these days. Asia sells, Europe buys, and then a little dip before US open to give the BTFD guys some action early on. So we had our opening surge after a little dippy and now we're headed back down and are flirting with VWAP once again.

Pattern looks like a falling wedge. Expect a bounce. Bears have to force a second leg down that breaks a LOD to get the momentum flowing downward. Until then, bulls are CLEARLY in control so don't fight the trend.