Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.


* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Art Deco Xmas Lady

Art Deco Xmas Lady



* Wed. Dec. 13 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Jan. 3 @ 2:00 pm ET - FOMC Meeting Minutes
* Fri. Jan. 5 @ 8:30 am ET - Employment Data
* Wed. Jan. 17 @ 2:00 pm ET - Beige Book Report
* Wed. Jan. 31 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Sunday, April 05, 2020

SPX Pivot Point Values For April

The pivot point support/resistant values/targets for the S&P 500 Index (SPX) for the entire month of April are based on the high/low/close of the March monthly candle, as shown on the following pivot point calculator.

The PP of each monthly candle is depicted as a blue cross on the chart of the SPX below.

You can see, at a glance, where the current price is relative to those...giving an indication as to its relative strength/weakness as the price moves above/below each one in the coming days/weeks/months.

As of Friday's close, it's above the PP of the August 2017 candle and below all subsequent ones. A great deal of price resistance lies above, as well as an unfilled gap for April's candle.

I'm not confident that we'll see any convincing and sustainable strength arise anytime soon...due to the global crisis caused by the covid-19 pandemic.

However, volatility has abated somewhat recently, as depicted on the following SPX:VIX daily ratio chart.

All three RSI, MACD and PMO technical indicators are rising, but price is still below 60.00...a major price resistance level that must be recaptured and held if the SPX is going to have any chance of a recovery soon.

Otherwise, failure to do so, will likely mean lower prices in the coming days/weeks for the SPX, inasmuch as such high volatility levels are not the norm and are usually only sustained during periods of extreme economic and financial instability.

In any event, we'll likely see wild volatile swings in both directions until such time as the price on this ratio returns to, at least, the 200 level.