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Thursday, January 19, 2012 at 07:50PM | Asher Pinto Potentially troublesome development for the bulls. Upper Bollinger bands fall into SPX, INDU.
S&P-500 Large Cap Index
SPX gained 6pts (0.5%), today. However, in a potentially significant development,
Dow Industrials, Nasdaq-100, S&P-500, stock index charts Sunday, January 15, 2012 at 03:01PM | Asher Pinto The indices suffered small losses on Friday but still ended the week with gains of just under 1%. The bulls still have their noses in front, but is this move losing momentum?
S&P-500 index daily chart:
The bears just can't catch a break. SPX was trading back in the old resistance zone, during the day, on Friday, when the index was showing a loss of as much as 18pts. There was a recovery by the close, however, and the index was able to close above the important 1285-level, finishing with a loss of just 6pts (0.5%). The upper Bollinger band is rising and RSI has stayed above the 60-line, so the bulls still have their noses just in front. That should remain the case, until/unless the index falls below its 20dMA.
Dow Jones Industrials Average daily chart:
Thursday, January 12, 2012 at 07:49PM | Asher Pinto Markets close with small gains. Bulls still in control.
S&P-500 Large Cap Index
SPX gained 3pts (0.2%), after once again spending time below the flat line for a good portion of the day. It's not a big deal though. It's still looking like it's gonna be a slow and steady trudge upwards. The upper Bollinger band has risen further and now sits at 1313 (nearly 1.5% above today's closing level). There's lots of room to the upside on RSI and MACD as well. Barring a failure to remain above the October highs (1285), there's nothing that should trouble the bulls until the 1345-65 range is attained.
Dow Jones Industrial Average
Dow Industrials, Nasdaq-100, S&P-500, stock index charts Wednesday, January 11, 2012 at 08:31PM | Asher Pinto Indices close virtually unchanged. No big change in the technical picture. Bulls still have their noses in front.
S&P-500 Large Cap Index
SPX closed unchanged, after trading below the flat line for most of the day. No big changes, as far as the technicals are concerned. The upper Bollinger band is still rising, RSI is above resistance and MACD still has lots of room to maneuver. No trouble in sight for the bulls, as long they're able to keep the index above the resistance zone.
Dow Jones Industrial Average
Dow Industrials, Nasdaq-100, S&P-500, stock index charts Tuesday, January 10, 2012 at 08:19PM | Asher Pinto And the bulls have done it!
S&P-500 Large Cap Index
SPX gained 11pts (0.9%), today. In the process, the index has broken intermediate resistance (derived from the October highs). The index has also broken resistance at the 60-line on RSI. All in all, it was a good day for the bulls. The key now is for the index to remain above 1285 and, if it can do so, we should soon see a retesting of last year's highs in the 1345-1365 area.
Dow Jones Industrials Average
Dow Industrials, Nasdaq-100, S&P-500, stock index charts Monday, January 9, 2012 at 07:50PM | Asher Pinto The indices continue to be challenged by resistance. It's do or die time for the bulls.
S&P-500 Large Cap Index
SPX gained 3pts (0.2%), today. The index has traded mostly within a tight range of 15pts, for the past five sessions, as resistance from the October highs near 1285 and from the 60-line on RSI is tested. The bulls will take heart from the fact that the upper Bollinger band continues to rise; the upper band sits at 1298 (a good 18pts above today's closing level), at the moment, and is rising at the rate of 2-3pts per day.
If resistance at ~1285 can be taken out, a surge towards the intermediate/major trend resistance in the 1345-1365 range will take place. In the meantime, watch out for any dip back below the 1265-mark, which needs to serve as support in order for the bull case to be bolstered.
Dow Jones Industrial Average
Dow Industrials, Nasdaq-100, S&P-500, stock index charts Sunday, January 8, 2012 at 03:01PM | Asher Pinto There's been some good news for the bulls over the past few sessions and, if they're able to turn up the heat, we could even see an intermediate trend rally in the first part of 2012. Let's see if that happens though; there have been many false starts over the past few months.
S&P-500 index daily chart:
SPX has broken resistance at 1265. The next big resistance level is nearby. If the index can break above that level (1285), we could see the index make a quick move to intermediate/major resistance at 1345-1365, over the course of next month or two.
The upper Bollinger band is now rising and that opens up a potential pathway for a gathering of momentum to the upside. Volume is back, after the Xmas week lull, as well. Resistance at the 60-line on RSI still hasn't been broken. The bulls will want to put paid to that quickly. A failure to do so will mean that a test of the 20dMA is nigh.
Dow Jones Industrials Average daily chart:
Wednesday, September 30, 2009 at 10:54AM | Asher Pinto 
Dow Industrials, S&P-500, Nasdaq-100 Indices Daily ChartsThe 20-day Moving Averages have been a strong ally of the bulls, since the markets hit a bottom in March.
On more than a handful of occasions, during the 60%+ rally that we've seen from the lows on each of the indices, there has been a small correction that has taken the index to its 20dMA or just below, before the next blast of buying power has come in.
As with all things good, there will come a time when this trend will end.
For the past 7 months (aside from a period of 2-3 weeks in late-June/early-July), the 20dMAs have been on the side of the bulls; however, conventional moving average theory suggests that when an underlying stock or index is trading on a given side of its 20dMA, the near-term trend should be...
Dow Industrials, Index Chart, Nasdaq-100, S&P-500
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The Bigger Picture (Weekly Market Update): Jan 29, '12
Negative divergence on INDU. Potential correction afoot, unless signal can be nullified.
S&P-500 index daily chart:
SPX lost 2pts (0.2%), after a tight session, on Friday. RSI has dipped out of overbought levels, which might be seen as a positive for the bulls for now, since it opens up some room on the upside, as far as that indicator is concerned. The upper Bollinger band has flattened a bit, at the end of the week; it won't be a problem unless the band stays flat for several days in a row.
Dow Jones Industrials Average daily chart:
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