ES Futures May Test April 10th Low 04/23/12

From Bloomberg: "European stocks fell after reports showed manufacturing contracted in the euro area and China and as Dutch Prime Minister Mark Rutte failed to reach an agreement with a coalition party over austerity measures. Asian stocks and U.S. futures also slid."

Charles

ES Futures Still In Down Trend 04/11/12

On the ES Futures 60-minute chart above, you can see that we are still in a down trend. Today's move was simply a 50% jump from yesterday's sharp down wave.

Charles

First Trading Day of Apil Continues To Be A Strong Bull

This may be a good indication that the entire month of April will continue to be a strong bull month.

Charles

S&P 500 Index April Charts For The Last 5 Years

The above charts are the S&P 500 Index for the last 5 years.

Each year of the last 5 years has April closing higher than its open for the month. The low for the month occurred on the first day of the month in the years 2007, 2009 and 2010. The years 2008 and 2011 made its monthly low in the middle of the month.

Below are the point gains for April:

• 2011: + 34 points
• 2010: + 15 points
• 2009: + 79 points
• 2008: + 59 points
• 2007: + 61 points

Charles

ES Futures Morning Session 03/29/12

The Advance - Decline Line is still trending lower, indicating continued selling in the second to last trading day of March. This has helped keep the ES Futures below S1 and yesterday's low for most of the morning.

The last trading day of March is also usually weak. We may see some bargain hunting in anticipation of a more bullish start in April. The first week of April is typically more bullish than the last week of March.

Charles

ES Futures 03/28/12

Both the ES futures and the S&P 500 Index are at their 10-day moving average. The Pivot of the Advance - Decline Line didn't quite make it to the -1000 line. So, we will have to see if most of the selling is done, or if there is more to come. The end of March is typically weak.

Charles

ES Futures Pivots For Tuesday 03/26/12

Trading Pivots for tomorrow.

Cup and Handle formation on the 10-minute chart. Gave us a strong reversal.

Charles