Tuesday May 1st

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 I have been expecting this to be an active week, so as we approach FED Wednesday, lets review how Monday traded...

 

SPX - So far, the move out of the April lows has been weak and appears to be struggling at the 50sma.  With the daily cycle count ticking away, this needs to break above that 50sma soon, or it will get caught up in a sell off when the 'time' is up.

 

And don't forget this...

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4-28 Weekend Report

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I have been covering the Big Picture in the weekend reports, and not a whole lot changed since the last weekend report really. That said, I will cover all of the market sectors that I usually do, and discuss the possibilities going forward. I expect this to me a week of increased activity (FOMC).

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Fridays Assortment

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SPX - We have a swing low at what looks to be a 1/2 cycle low on day 18. The follow through will tell us the strength of the daily cycle.  The 200sma acted as support, and volume increased off of the low. I willbe watching for a break of the down trend line & a new high above day 12.

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