SPX - MOMENTUM IS BUILDING FOR AN EXPLOSIVE MOVE

Though the market has been boring of late, traders should be very careful. Momentum is building for a strong move (down). Calm before the storm. Big move coming whether you are ready or not.
Much better to watch paint dry than monitor this market the past 2weeks.

SPX-DAILY LINE CHART

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME

SPX WEEKEND REVIEW

     This week that just ended was a very lousy and frustrating one with all the back-and-fill and no movement. Next week is setup for a drop and will be an exciting one. I believe the market is in a bull fakeout. Don't be on the wrong side of this trade. Not time to be bullish at this level. Down leg coming. I say this not based on the economic data which has been looking really good recently but based on technicals. I'm a technician not a fundamentalist. I hope economic data keeps coming up strong. The world needs it.
     Though far from perfect, US economy looks to be gaining footing (I don't know if it will last though if Europe goes into recession/depression). No one in their right mind should expect perfection or excellent numbers. The trend is what matters at this time, even though I expect perma-bears to twist everything to appear negative by comparing every good data with perfection and say how "REALLY BAD" good data is in order to console themselves of how bad things are, while wishing for an economic  collapse but appearing to the concerned. Keep it mind that NO ONE is safe in a depression. The rich become the target for any chaos, unrest or destruction that takes place. I know there are too many people hoping for economic meltdown because of political or other SELFISH/USELESS reasons. Be careful what you wish for (whether you are poor, middle class or rich).
     Europe is key at this point in determining global economic outlook. Stabilization of the debt crisis is key. As Europe goes, so goes the world because the global economy in very intertwined. It's holding the torch at the moment and therefore the limiting factor.

SPX-WEEKLY

SPX-DAILY LINE CHART

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME

SPX

The bulls are doing a great job holding the market up but a fast drop is going to take place. Don't get caught on the wrong side of the trade. The market is in a bull trap (fakeout). Fast reversal coming. All that glitters is not gold unless tested by fire.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME

SPX - MARKET IS SETUP FOR A BIG MOVE TOMORROW

Based on my 30MIN SHORTER TIMEFRAME chart, the market is setup for a big move tomorrow which I believe will be a big down leg that will be followed by another drop on Friday if the expected big drop takes place tomorrow.
Trying to make sense of the market. The bulls are trying hard to keep the market up but the market is building momentum for a drop. So make sure the rug is not pulled out from under you. A fast swing lower will take place. I'm not talking about a Bear Market but a Swing. Let a Bull or Bear market take care of itself.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME

SPX - TIME TO STEP BACK. NO CHASING.

I'm trying to understand the market formation in play. I believe there is a bull fakeout in play that will lead to a fast drop for a short-term move. Today's big opening gap has altered my chart setup but I see it reversing lower.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME