Wednesday, September 26, 2007

Market Outlook SPY for Sep 26th '07


Dominant TF: 60mins & Daily
Swings: DN-UP-DN
Market direction: neutral to mildly UP. Possible congestion.

60mins: neutral to mildly UP

The 151.50 level seems to hold, and AdStoK is now showing signs of a recovery to 154.70 or even 156.
The Swing indicator should turn around soon, but one should not anticipate any strong up move in the short term.

Daily: neutral to mildly UP
AdStoK and Entropy are both weakening, but not to worry at least until AdStoK line cross. Possible congestion to small increase to 153.50 in the short term.

Weekly: neutral to mildly UP
The Swing indicator is still hesitant, but it is likely that highs will be tested. Entropy is slowly looking better, and the AdStoK white line is clearly showing the "U" shape indicating recovery at least until lines cross.