Market Outlook RUT for Sep 25th '07

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

60mins: neutral to mildly Down, til support is found
The major 812.50 resistance level has held, and RUT has now retraced a bit. Support must now be found either now at 805 or 797-799 (or -1%) which would provide a stronger foundation to go higher.

Daily: neutral to mildly UP, possible congestion.
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 which had just turned UP is DN again, but 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 812 key level first, so we need this level to be passed to confirm this scenario. Also note that this time frame's significance level is pretty high now.

Market Outlook NDX for Sep 25th '07

Dominant TF: Daily (also 60mins to an extent)
Swings: DN-UP-UP
Market direction: mildly UP until resistance is truly tested.

60mins: neutral to mildly DN, possible congestion.
NDX started the day quite bullish to a Fib level (lower time frame) but the 2062 key level held, then NDX retraced a bit.
It should now 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
AdStoK remains bullish and Entropy has picked up steam again. While there can be some hesitation when testing new highs, there is no indication of any retracement going forward.

Weekly: UP ?
AdStoK does not quite seem to follow price action, and Entropy is still weak. Possible divergence then? One could perhaps be cautious about a possible double top, but this is not the dominant time frame, so not to worry for now.

Market Outlook SPY for Sep 25th '07

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

60mins: neutral to mildly DN, til bounce on support
Same as yesterday: support must be found either now on 151.50 or lower 150 (i.e. -1%). There is still some negative bias, and 150 is a stronger Fib level.
There is no indication SPY will then go lower. A new Fib pattern may form to give a 156 target.

Daily: neutral to mildly UP
Same as yesterday: AdStoK is certainly bullish although also slighlty overbought. The AdStoK pattern is fairly clear, until the Green Line joins the White Line at least. With some weakening in the white line as well as Entropy, SPY may crawl to 153.50. It should test highs later on.
Likely range: 150 to 153 and 155.50 (July highs).

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 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...