The Final Approach

Looks like the S&P is making its final approach before turning down. We could be there but if not look for a short retracement and one more move into the 1324 level over the next trading day then all bets are off and we could move down with conviction. :)

Patterns

I guess the market is totally random, lol, NOT!

S&P

As stated in our Thursday night update, we where looking forward to the S&P to come and touch the bottom of the broken trendline before reversing. We are at a very vulnerable spot!

Silver Update 02252011

Here was the comment last night from the report ".  Any entry (unless there is a large risk appetite) should be for a swing entry around the $31.58/oz level targeting an exit ~ $33.00/oz level."  That statement was coupled with the first chart shown below.. this proved to be a very nice intraday trade..

The ideal target of the 28th comes on Monday .. given the current price pattern it should be considered that the (4)th wave A-B-C correction completed... the 28th may prove to offer the "higher-low" to pull the trigger for a longer term (e.g. non intraday) entry ..

We'll see how she unfolds..

Happy trading!

--Tony

S&P Timing

S&P looks to have turned on time/price and proportions! :)

S&P Futures Geometry

S&P futures geometry! :)