Market Outlook SPY for Sep 17th '07

Note:

The AdStoK_MTF indicator is now substituted for AdLag64StoK_MTF which is smoother, but slightly back-adjusting. Only the last pattern over the last 64 bars is displayed.


Dominant TF: 60mins
Swings: DN-UP-DN
Market direction: undetermined.

60mins:
The recovery has stalled short of the 150 level. AdStoK is strong, but Entropy has now turned negative.
What next now??? After the Fed announcement on Monday, it can certainly go both ways, but there is a negative bias ahead of the news.

Daily:
Very slight upward bias given by AdStoK, but Entropy is so weak, it can here really go both ways, or even stay a little longer in the same trading range.
Possible range: 145 (maybe 143) to 150

Weekly:
Ahead of the Fed on Monday, there is some minor upward bias left. Hopefully a direction will emerge soon enough...