Market Outlook RUT for Sep 24th '07

Dominant TF: 60mins
Swings: DN-UP-UP
Market direction: neutral to mildly UP.

60mins: neutral to mildly Down.
The major 812.50 resistance level is key to future movement. In short time frames, it has worked as new support.
AdStoK and Entropy show signs of a weakening so we could see some hovering at these levels, but it is likely that a lower support must be found. 812 may hold, otherwise 805 or 797-799 will provide a stronger foundation to go higher.

Daily: neutral to mildly UP.
AdStoK is somewhat bullish but the pattern while getting clearer is not the easiest to read. The significance level is low at this time frame, so one should maybe just not read too much into it.
One has to first wait how RUT behaves around this key 812 level.

Weekly: neutral to mildly UP
The Swing indicator has just turned UP, and Entropy shows signs of bottoming up, so RUT could creep slowly to 843 over the next few weeks. There could however be some hesitation around this key level. One should take cues from the 60mins chart in the short term.

Market Outlook NDX for Sep 24th '07

Dominant TF: 60mins & Daily
Swings: DN-UP-UP
Market direction: mildly UP until resistance is truly tested.

60mins: neutral to UP.
NDX is still aiming at 2062 but has difficulties getting there.
We can however confirm a support on 2031, so NDX should carry on testing highs, or remain in the higher part of the same 2030 - 2060 trading range.
Strange enough, the Swing indicator is still Down, indicating a possible congestion.

Daily: neutral to up.
Entropy is slightly weakening further indicating some difficulty going higher. AdStoK remains very bullish so there should not be any serious retracement going forward if any.
We however have to be cautious ahead of an importance resistance level.

Weekly: UP ?
AdStoK does not quite seem to follow price action, and Entropy is very weak.
One should perhaps be cautious about a possible double top, but no panic just yet...
Note that in such (long term) case, Fib PR1 is 1825, and the mid pivot (Fib + MM) is 1750.

Market Outlook MID for Sep 24th '07

NOTE: MID patterns are too correlated to RUT to warrant a separate analysis. MID charts will therefore no longer be posted.

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

60mins: neutral to mildly DN, til support is found.
AdStoK and Entropy show some retracement potential to 875 (maybe 870) to find support and possibly go higher later on.

Daily: neutral to UP
AdStoK is bullish and the pattern is slowly getting clearer. We can now anticipate a slow bumpy up move until lines cross.
Probable range: 875 to 906, to ... 937.50. However 937 is unlikely in the short to mid term.

Weekly: neutral to mildly UP
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
MID could reach 906 then July highs, then 937. A Fib pattern seems to take shape too with a target close to previous highs.

Market Outlook SPY for Sep 24th '07

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

60mins: neutral to mildly DN
AdStoK and Entropy Entropy both show some slowing, indicating we have to check for the next Fib and/or MM support level: 151.50 or maybe 150
There is no indication SPY will go lower. If support is rapidly found, a Fib pattern may form to give a 156 target.

Daily: neutral to mildly UP
AdStoK is certainly bullish although also overbought.
Should we see a pause or some mild profit taking, SPY could remain around 153 or find support around 150.
Likely range: 150 to 153 and 155.50 (July highs).
Considering the upward bias, the upper boundary of this range should be tested soon (the AdStoK pattern is fairly clear, until the Green Line joins the White Line at least).

Weekly: neutral to mildly UP
The Swing indicator has turned UP and the chart certainly looks more bullish, but one has to first see what will happen when July highs are truly tested...

Market Outlook MID for Sep 21th '07

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

60mins: neutral to mildly DN, til support is found.
AdStoK and Entropy show some retracement potential to 875 (maybe 870) to find support and possibly go higher later on.

Daily: neutral to UP
AdStoK is bullish but the pattern is not very clear, and Entropy is not helping. Strange enough, the Swing indicator shows signs of turning. One can therefore anticipate a modest increase at best.
Probable range: 875 to 906.

Weekly: neutral to mildly UP
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
MID could reach 906 then July highs, then 937. A Fib pattern seems to take shape too with a target close to previous highs.

Market Outlook SPY for Sep 21th '07

Dominant TF: Daily
Swings: DN-UP-DN
Market direction: neutral to mildly UP.

60mins: neutral to mildly DN
AdStoK and Entropy Entropy both show some mild retracement potential, so we have to check for the next Fib and/or MM support level: 151.50 or maybe 150
There is no indication SPY will go lower. If support is rapidly found, a Fib pattern may form to give a 156 target.

Daily: neutral to mildly UP
AdStoK is certainly bullish although also overbought.
Should we see a pause or some mild profit taking, SPY could remain around 153 or find support around 150.
Likely range: 150 to 153 and 155.50 (July highs).
Considering the upward bias, the upper boundary of this range should be tested soon.

Weekly: neutral to mildly UP
The Swing indicator has not turned around yet (due to high vol.), but the chart certainly looks more bullish. One has to first see what will happen when highs are tested...

Market Outlook RUT for Sep 21th '07

Dominant TF: 60mins
Swings: UP-UP-DN
Market direction: neutral to mildly UP.

60mins: neutral to mildly DN, til support is found.
The major 812.50 resistance level has held despite the strong open on Sep 19th.
AdStoK and Entropy show signs of a weakening and a support must be found now (Swing is UP). One can be tempted to think 805 was the support yesterday, but AdStoK has a negative gradient, and one cannot discard 797 - 799 to be a stronger support.

Daily: neutral to mildly UP.
AdStoK is somewhat bullish but the line separation may indicate some increased volatility at these new levels.
RUT may well reach 827 after some support is found. Should we see some profit taking, RUT will find support around 800.

Weekly: neutral to mildly UP
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
Entropy might bottom up this week, so RUT could creep slowly to 843 over the next few weeks. At the same time, RUT may just as well follow another leading index like SPX.

Market Outlook NDX for Sep 21th '07

Dominant TF: Daily
Swings: DN-UP-UP
Market direction: neutral to UP.

60mins: neutral to DN, til support is found.
NDX is still aiming at 2062 but there isn't much momentum left in the short term.
Entropy exhausted and even turned negative, and AdStoK also show a mild negative gradient.
For the time being, support has been found on 2031 but should there be more substantial profit taking, NDX could drop to 2016 or maybe even back to 2000 which is unlikely.

Daily: neutral to up.
Entropy is slightly weakening further indicating some difficulty going higher. AdStoK remains very bullish so there should not be any serious retracement going forward if any.

Weekly: ?
AdStoK does not quite seem to follow price action, and Entropy is very weak.
One should perhaps be cautious about a possible double top, but no panic just yet...
Note that in such (long term) case, PR1 is 1825, and the mid pivot is 1750.

Market Outlook SPY for Sep 20th '07

Dominant TF: Daily (and intraday < 30mins)
Swings: UP-UP-DN
Market direction: neutral to mildly UP.

60mins:
AdStoK is pausing a little, but remains bullish.
However, Entropy is historically very high so should peak shortly.
To go higher, some support will have to be found first, probably around 153, but should there be substantial profit taking, which is very unlikely: 148.
After a good support is found, SPY could reach 156.

Daily:
AdStoK is certainly bullish although overbought.
Should we see some profit taking, SPY will find support around 150, otherwise 147. The possible range is therefore: 150 (maybe 147) to 153 and 155.50 (July highs).
Considering the upward bias, the upper boundary of this range should be tested soon.

Weekly:
The Swing indicator has not turned around yet (due to high vol.), but the chart certainly looks more bullish. One has to first see what will happen when highs are tested...

Market Outlook NDX for Sep 20th '07

Dominant TF: Daily
Swings: UP-UP-UP
Market direction: neutral to mildly UP.

60mins:
NDX is aiming at 2062 but understandably has difficulty passing July highs.
Entropy is historically high so should peak shortly.
To go higher, some support will have to be found first, probably on 2031, but should there be substantial profit taking, which is very unlikely: 2016, or maybe even 2000.

Daily:
Entropy is weakening indicating a possible pause in this bull move. AdStoK remains very bullish so there should not be any serious retracement going forward.

Weekly:
AdStoK does not quite seem to follow price action, and Entropy is quite weak.
One should perhaps be cautious about a possible double top, but no panic just yet...

Market Outlook RUT for Sep 20th '07

Dominant TF: Weekly!
Swings: UP-UP-DN
Market direction: neutral to mildly up.

60mins:
RUT passed the major 812.50 level, yet it is not quite broken yet. The 820 was a Fib level in a lower time frame.
AdStoK indicates a pause on the way up and Entropy has peaked while remaining strong.
The 812.50 level must be tested for support.
At this stage, there is no reason for RUT to go lower.

Daily:
AdStoK is obviously bullish but the line separation may indicate some volatility at these new levels. RUT may well reach 827 after some support is found.
Should we see some profit taking, RUT will find support around 800.

Weekly:
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
Shorter time frames should take the lead soon, but RUT could creep slowly to 843 over the next few weeks.

Market Outlook MID for Sep 20th '07

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

60mins:
AdStoK is overbought territory indicates MID could pause for a while, and even retrace to 875 to find support on previous resistance, also a PR1 Fib level now.
Entropy is historically high so could peak soon.
MID can reach 906, but 875 is equally likely.

Daily:
AdStoK is bullish but the pattern is not very clear, and Entropy is not helping. One can therefore anticipate a modest increase at best.
Probable range: 875 to 906.

Weekly:
The Swing indicator has not turned around yet, and weekly bars are still yellow, indicating we are not back to bullish mode just yet. Having said that, volatility is the main cause for this hesitation.
MID could reach 906 then July highs, then 937, but iy is likely that 875, or maybe 858 be tested for support first.