SPX - (look for a big rise tomorrow - breakout day).

Any move above today's high (1264.14)is an indication of further push up which I expect will take place.

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SPX -- (charts look bullish for the rest of the week).

SPX in lalaland but strong run is going to take place likely starting tomorrow with a trade above 1255. Look for it to pick up speed to the upside when it moves above 1278. Gap open above 1255 tomorrow is a buy opportunity or a 30min bar close above 1255 with confirmation (for conservative traders). Aggressive traders can buy with any move above 1255. Tomorrow is looking like it is going to be big UP day with follow through on Wednesday. The week looks like it's going to be a very bullish one.

NOTE: Swingtrading a 30min chart is different from swingtrading a Daily or Weekly chart. The decision can only be made by the trader depending on how aggressive there want to be. The 30min chart requires more entries and exits. So if you use the Daily for trading, there are times whereby there will be tradeable swings on the 30min chart that means nothing to the Daily (like today). I try to trade every swing of the 30min chart but knowing exactly what the big picture (Daily) is saying.

SPX-DAILY

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SPX WEEKEND REVIEW

The charts look very bullish in my opinion, but Bulls cannot be comfortable or complacent because it will take just one day of geopolitical event (which is going to take place) to cause serious damage and change completely the market dynamic due to panic selling. So if you are a bull, do not be heavily invested in the market, and take profits as often as possible. Risk only what you can afford to loose.

Bears/Perma-Bears need to trade what they see not what they want or hope for. They should not try to make the charts say what it's not saying by reading their minds into the charts, because the charts will make you see what you want to see.
They should also avoid analyzing geopolitical occurrences as technical predictions. It will likely lead to failure because rapid drops often lead to strong rise. A Bear/Perma-Bear should hope for a steady drop for that is the sign of strength. Very fast or slow moves are signs of weakness/reversal not continuation.

Swingtraders should play what the charts say and just hope they are in the right side of any geopolitical event. That is really all they can do. They should avoid being heavily invested in either direction but should risk more on bearish than bullish trades in case a geopolitical-induced selloff takes place. Also take profits often (especially profits from bullish trades).

GLD (gold)-DAILY

SPX-WEEKLY

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SPX

Although the charts look very bullish (in my opinion), in the past 3weeks i've been more comfortable making down plays (Puts/shorts) than making up plays (Calls/longs). This has nothing to do with technical analysis. I just have a bad feeling about the market. It has proven to be very resilient in the face of all kinds of bad data/news/global debt/geopolitical events etc. Just too much for it to handle. It will give way soon (I hope it's not the case. We need a better world).
WHEN Israel attacks Iran's nuclear facility, it will lead to a sharp drop in the market because of the word "nuclear". It will be followed by a sharp rise if the market learns that the facility has been totally destroyed i.e no nuclear war. Then more downside if Iran fights back.
That is the point whereby technical analysis becomes useless even though elliotticians and perma-bears will start saying their long-awaited "wave 3" is in progress. And how they predicted it. This will have nothing to do with technical analysis but geopolitical in nature.
I wish the world was in a much better condition. I really hope what is about to befall the earth doesn't happen. Too late though.

Note: The second of seven links posted yesterday was not working. Just noticed while making this post. Has been fixed for any interested.

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SPX

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