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The RSI(4h) seems to predict peaks/troughs well and it is currently at oversold levels, so we may see a push up today or Monday.

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Probable short term bounce here, SPX has hovered below MA(200) so will get long on confirmation.

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Those fractal guys would like this chart, SPY pattern matches perfectly :) .. including gap up, spike top and ramp up after decline .. maybe we gap down into open tomorrow

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I think current consolidation will lead to a continuation lower to the target support which meets the long term trendline support. Clear failure to break above 2007 resistance in the last few attempts and I think that might stay the case here, and makes a good level for short entry.

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Update to my daily chart. We're back at the critical 1461.16 level. Normal price uptrend structure would've reversed had it not been for the intervention that seems to come right when prices are about to transition lower. Judging from the melt up we might break higher this time around. These gyrations are probably helping the heavy hitters get out of their...

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I'm sure everybody's seen similar chart on your favorite blog, but here are my 2cents. The market seems to have two options here 1. Confirm the double top and continue down the target, breaking MA(50) soon 2. Bounce off support (channel and earlier support line) and make the right shoulder for the HS then go lower from there. QEternity is promised, the best...

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I was looking at this chart again, RSI patterns from overbought to match past behavior. Looks like Fridays price action could be interpreted more like a double top here. See the rectangle with red box outlines. The RSI peak and a bounce up followed by a very sharp price decline. I doubt that we'd crash like in 2011 but with the weak bull last week we should see...

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Bulls/Bears battling it out. QE3 move has been a good 17% from the June lows. Showing some signs of weakness from RSI very overbought level. Trend and channel still in the bull's favor as we stayed above the announcement day levels, and the sluggishness could be due to the options/futures roll last week. Looking for a topping pattern of some sort now. The large...

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Still more room to it I guess, target is the upper level horizontal line. I don't like that long term channel broken cause its just too parabolic, could be a head fake we'll find out. QE3 announcement could still be a big sell signal yet

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Follow up chart to my earlier post, the bulls bought the dip today into the close. I'm still cautious to the possibility of a reversal but think we may have a target in sight. The upward channel within the longer term channel points to a target confluence region marked (see circle) on the chart. The trendline breach measured move target is also higher. So still...

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SPX broke a major resistance level this week, on monthly chart: 5/08 high of 1440.24. That peak doesn't look too prominent in the scheme of things, the move down was huge, 1576.09 to 666.79. Since 1997 onwards, we've moved into the monthly ATR of 100pts, So breaking up to the peak of May 08 doesn't seem too far fetched, (we've moved 76pts this month) and we've...

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Overbought RSI on the 3h chart seems to have done well calling market tops this year. And we seem poised for a move, given the German vote and the big FOMC announcement coming up on Wednesday. I'm inclined be short here, unless the Fed comes up with a bazooka QE3, RSI might be right one more time.

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Not sure I want to get long or short here, wait for news out of the casino rigging central bankers