The OEX testing the middle of the range:

The SPX with certain Sq9 levels:

The new line in the sand:

A reminder of certain key levels:

11:05 a.m. snapshot,




and the end-result.

Wishing everybody Happy Easter
with all intraday CIT's for Monday...



and the end-result

Euro and gold update

Here's the weekly perspective:





along with some intraday fibo action

The FED giveth and the FED taketh away...

How's that for sound monetary policy !?!?






... and then giveth back again on Thursday, via the PDCF !

So, is this the proverbial bear market rally, or is it the real deal?

No need to guess. An easy way to tell is by looking at the SPX Barometer.
If the SPX continues sideways/up (swup), while the Barometer goes through its usual overbought/oversold cycle -- that will be a good indication of a strong market.

Another disaster narrowly averted,
and the indices brought back above critical levels.

The message of Wall Str. is loud and clear:

We don't care about the dollar.
If we don't get the rate cut we want,
the SPX drops 50 points.

How's that for pressure on Mr. B !

I've posted these charts many times before, but it's worth doing it again, because they clearly show what's at stake today, with the indices trading right at support in pre-market hours.

This is what a measured 720 degrees drop looks like.

In case there was any doubt in the power of the 2003 fractal, I'm updating yesterday's chart.

Amazingly, the SPX still finds support/resistance at the 2003 fractal
(blue lines).

Today's intraday CIT's.

Nothing overly dramatic so far.

Now, let's consider for a moment what could have happened, had the Fed not acted: an SPX spill-over out of the structure, and a 50 point drop.

Clearly, not an appealing outcome...




Plus, who could blame them, for making a swing-traders dream come trough?

The divergences mentioned over the week-end are still in play, and the SPX entered obvious support zone.

Here's a look at the cycle forecaster:




followed by charts of some of the indicators showing positive divergences:

Several indicators, non related to price, including the barometer, are showing positive divergences. The SPX chart below is showing all sorts of support/resistance levels.

Fittingly, there is some beautiful symmetry in the last candle of the week.

Well, the similarities between the barometer readings are still there, and the lows were tested. The question is, whether the outcome will be the same...

The similarities between the SPX at the beginning of February and now are pretty striking. Interestingly,
the barometer readings are pretty similar as well.

The SPX merrily bouncing between support/resistance levels, while the barometer is getting oversold.


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Spyders in no-mans land,




and a graphic update of past and future Gravity dates.

This short-term indicator is pretty much self-explanatory.

The Dow can't make-up its mind which of the three forecasts to follow. Luckily, all three continue to be in sync for the next few months.