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Friday, April 20, 2012

Market status system weekly update

Market status system  Explanation at bottom.

Green - 6    
White - 4    
Red   - 0    
Green - 0   
White - 7   
Red   - 3   

Green - 2   
White - 5   
Red   - 3   

The weekly charts are still neutral/bearish.  SPX is still
holding above the key 1370 level.  Price has coiled up
this week.  I think a resolution on whether to resume the
rally or break down below the 1370 level could happen next



I have color coded the price bars in green (up), white (neutral),
red (down) to represent the short term price movement.  I have
put together 9 items that have led SPX at times in the past. 
With SPX included there are 10 total items.  The idea is to use
daily for short term movement, weekly for intermediate and monthly
for long term.

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.