Another nice annotation from David Singer:


Annotated Rangebound S&P 500

chart by David L. Singer at SINGER$MARKET

Category: Technical Analysis

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7 Responses to “Annotated Rangebound S&P 500”

  1. torrie-amos says:

    i’m short………..psq, rwm

  2. whodunit says:

    I like the charts and comments. ESP the sentiment/short int. I believe, what people say and do are two different things sometimes.

    Going forward, no one knows what breaks us one way or the other. On the positive side, RSP, $WLSH and Cum A/D show efforts to BO up. So maybe upside BO in time. Also the bears have not done a good job taking advantage of the stall here. Even with the Whitney flamethrower out twice now trying to knock stuff down. Wonder who’s short out there ? ………………

    In this range, a flush out the bottom, like the false upside BO, followed by a quick reversal up, may be one possibility.

    I have yet to meet anyone liking this market and telling me to go all in.

  3. torrie-amos says:

    forgot also short DZZ for a few weeks

    dollar had a break away gap today, if it holds well, we shall see

    you get a tepid fed day at the top, extremely strange

    as gann says, when time is up, time is up

    GS per the law has too reduce there VAR tremendously in december

  4. HarryWanger says:

    On 10/19 I drew a line at 1097.5. This is the magnetic SPX line. Before I left for my last show, I had mentioned that the SPX had fallen below that line 4 times in a month. Each time it was a two day affair with the third day gapping up above the “magnetic” line. My last post was 12/9 with the SPX in day two of this pattern again. Well next trading day it gapped up again. I haven’t seen a more consistent pattern in a long, long time.

    So I see 1097.50 as the line in the sand. Close three or four days below and we’ve broken the pattern to the down side.

  5. torrie-amos says:

    well, since they are all intertwined, europe, china, brazil, india have all broken down, and copper has cracked a little, it’s a slow boat for sure, my guess is a nothing options day and sell off for santa, no santa rally for you, the soup is cold

  6. catman says:

    Kind of wondering about the expiration tomorrow myself. After that it seems the last time we rallied into year end with all the brokers touting Rosie Scenario we got slammed the first week of the NewYear. Nice chart tho.

  7. constantnormal says:

    A question for the TA experts … are there any metrics, rules of thumb, etc for how many times something can cycle through a range-bound situation like this?

    Obviously, the most accurate answer is “until it stops”, but I’m wondering if anyone has ever done any analysis of these sorts of things, and determined any distributions of the number of iterations before the range is broken, either on the upside or the downside … perhaps using decaying volume as a limiting factor?