POWER DATA ONE WEEK AHEAD - Provides an 80% Correlation to the SPX

Monday, May 09, 2011

Market Timing-Whats Next -May 9th morning report

26hrs at 10am

Activity index flowing at its LOWEST possible value = 33

Possible pivots
126bar s @ 10;30am
156bars @ 1pm
180bars @ 3pm

Tomrrow should open positive also

Upper resistance seems to be at the 1350 level
lower support  at 1300


IMPACT STREAM & Activity index popped higher at 11am
126bar pivot right on schedule at 10:30sh

1 comment:

Abdullah said...

market is still below it's 10 day moving average. The last time the market couldn't regain the 10 day quickly was back in February and we ended up pulling back almost 800 points. Could this be something similar beginning? It's simply too early to tell. Yes it's true we lost the 10 MA back in early April, but only for 6 sessions and then they powered us back up. So we have something of a road map to keep an eye on here. If we were to put in 4 more sessions under that average.. it could easily get the techno traders thinking that a big plunge is on the way.

I don't know that Bernanke and Obama are going to let it happen however. This market has felt heavy and tired for a long time and they keep pushing it. With Obama trying to milk every single penny of political capital out of the Bin Laden killing.. I'd be hard pressed to think they'd let the market fall. Yet it sure feels like it might.