Here's an update of a chart posted several times before:

The daily support/resistance lines are pretty obvious for the ES,




but a little less so for the DJIA weekly:



And for the grand finale, a look at the CycleForecaster:

Oooops, forgot to add one more support line, and that's exactly where the ES will close today.



Support/resistance levels for the ES and DJIA shouldn't come as a surprise to anybody.

Now here's an interesting comparison between the
SPX in 2008 and 2001.

The scaling is slightly different, but that shouldn't diminish the strong correlation effect.

Still holding the line:

Price and time squaring once again:

The polarity shift I referred to on June 6th is almost over, and it should be business as usual after that.

Now it seems a good time to update a chart I've been posting since February 8th.

Sometimes pivots do a pretty good job at catching bottoms:

For a change of scenery, let's take a look at daily and weekly Q's:

Below are two different sets of support/resistance levels for the cash index.

It shouldn't come as a surprise, that the high came in at 1370.25

And here is a slightly different and updated version of yesterday's chart:

Today, I decided to combine two charts into one,
to avoid clutter.

Looking at the SPX, one can argue, that there is a perfect squaring of price and time.

This is where the SPX finds itself at lunch time:




And at the close:

In classic TA fashion, what was once support (1370), now became resistance.

And, according to classic Gravity theory, polarity shifts occur at regular intervals. For those not familiar with them, extreme caution is warranted.

This is an update of the May 30th chart. It's marked with the Gravity dates along with the barometer readings for that day.

Irony aside, I can't help thinking how much more effective the Bulls could have been, had they waited patiently for the proper set-up to launch their offensive.

Looking at the G dates, however, it's the Bears that are quickly running out of time now, despite the fact that the 1370 support level has been broken.

Excellent offense by the Bulls, unequivocally declaring that failure at the 1370 level is not an option. Now the KEY issue outstanding is follow-through, or the lack thereof.

Another look at the 1370 level, and the reason why it is so important for the bullish case:

The Bull's objective is clear:
1370 has to be defended at all cost !

The powerful combination of an overbought market and a Gravity date: four days retraced in one.