Market completes $1077.00 upside target, further confirms forecast February 5 market bottom…
Tuesday’s session opened higher and tested the previous day’s $1068.00 upside target before reversing and testing today’s $1059.00 downside target, noted in today’s support/resistance panel. The market reversed powerfully off that level and broke out to new recent highs. The market tested S&P Messenger’s $1076/$77 upside target noted in today’s adjusted support/resistance panel. This prompted several trade entry attempts. However, today’s market showed unusual behavior, making new swing trading entry less effective. This is an important market development and further confirms the forecast February 5 daily market bottom. Therefore, tomorrow session is important with several tradable indications possible.I look forward to Wednesday’s session.
Last week’s market continued to decline after completing S&P Messenger’s forecast $1066.00 downside target forecast on Wednesday, January 27. As noted in previous reports the week of February 1st is the next forecast ‘on time’ weekly market bottom (+1 week). Therefore, the market is nearing a critical juncture on the downside as last week completed the week of February 1. Messenger Pro will update this report regarding this bottom.
Current Contract: Dec. 2009 S&P
Daily open: $1,066.30
Daily high: $1,076.50
Daily low: $1,058.00
Daily close: $1,066.20
Daily range: $18.50
All times listed are Chicago time.
Daily Turning Points
(All turning points are accurate +/- 1 unit of time)
Daily Trend: Neutral / Up
Current Daily Turn (Low): Feb 05
Prev Daily Turn (High): Feb 03
Intraday Live Trades for 02/09/2010
Trade Attempt
09:18:27 AM – Buy Limit placed at 1068.00
09:22:10 AM – Hit at 1068.00
09:33:55 AM – Exit at 1066.25 for a Approx. Loss of ($1.75) per contract
Order Cancelled
10:03:18 AM – Sell Limit placed at 1063.25
Trade Attempt
10:53:45 AM – Buy Limit placed at 1069.00
11:41:50 AM – Hit at 1069.00
11:42:07 AM – Exit at 1067.75 for a Approx. Loss of ($1.25) per contract
Order Cancelled
12:11:16 PM – Sell Limit placed at 1074.50
Super Trades completed on 02/09/2010
Today’s Completed Forecasts/Trades
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