Quick Trendline Check on Intraday SP500 and SPY Feb 1

Feb 1, 2010: 11:57 AM CST

I always like to point out simple trendline formations whenever possible, and it would appear we have one of those situations currently in the intraday S&P 500 and SPY charts.

Let’s take a quick look to see where price is likely to travel next if the trendline structure holds.

First, the SPY 30min chart (for the larger perspective):

Price is moving in a contained range as drawn above, between the lower trendline (blue) and 50 period EMA (and upper trendline – also blue).

That would put the next likely move – should the structure hold – to the $109.30 area as seen above.

As a note of trivia, we are also forming a positive momentum divergence in the 3/10 Oscillator – which is associated with a non-confirmation of lower prices (forecasting a potential reversal).

Next, a “zoomed in” view of the 5-min SP500:

This chart looks choppy – and certainly it is – but the main idea is that IF the trendline consolidation structure holds in place, THEN the next likely move (short-term) is to continue this swing back to the 1,093 area.

Be mindful for any deviation (change) in this structure, such as a sudden down-turn from here or a break under the lower trendline and prior swing low at the 1,070 level.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter:  http://twitter.com/afraidtotrade

14 Comments

14 Responses to “Quick Trendline Check on Intraday SP500 and SPY Feb 1”

  1. terlyn Says:

    Great call! Does this mean we're headed down now?

  2. Corey Rosenbloom, CMT Says:

    Looks bearish if SPX cannot break above 1,110 – the cradle EMA resistance zone.

  3. indianequitymarketresearch Says:

    http://www.suvlav.com
    In the meantime good investments are coming in power sector.It is now high growth sector in India.As expected prior budget a good amount of correction is going on for last two days.Another high growth sector is biotechnology, as India is becoming more and more involved in vaccine making, more and more global manufacturer are planned to establish their manufacturing base in India.
    An unofficial estimate says around 2015 Indian biotechnology sector would drive a turnover of $10 billion (something like Rs 46000 crore in indian currency).Growth in biotech come from clinical research, vaccine & farm biotechnology.
    India is and always been a country of unlimited possibilities…it is now the global investment community who are also joining the growth process
    in India in a big way.
    suvlav research
    91-9804236100
    91-9883086212
    91-9830088088
    http://www.suvlav.com

  4. indianequitymarketresearch Says:

    The battle for MGM
    http://www.suvlav.com
    Contact:
    91-9883086212
    91-9804236100
    91-9830088088
    For MGM : MGM’s current list of potential buyers include Time Warner,
    Lions Gate Entertainment, Summit Entertainment, Liberty Media, News
    Corp and Reliance Entertainment, owned by Anil Ambani. In film class
    we get the motto of MGM “”Ars Gratia Artis”, is a Latin phrase meaning
    “Art for art's sake.”The studio's logo is a roaring lion surrounded by
    a circle inscribed with the studio's motto. The logo, which features
    “Leo the Lion,” was created by Dietz in 1916 for Goldwyn Pictures and
    updated in 1924 for MGM's use. Lot of good moments in our life is
    associated with this word MGM

    http://www.suvlav.com
    Contact:
    91-9883086212
    91-9804236100
    91-9830088088

  5. indianequitymarketresearch Says:

    Equity research center India http://www.suvlav.com
    Equity research centre, India
    Contact: 91-9883086212
    91-9804236100
    91-9830088088

    World over green energy is getting popular, Terms such as bio-diesel, wind power, solar photo voltaic cells, solar power cars, bio gas energy, wind turbines are getting mentioned.
    In USA and India solar photo power is getting due importance.
    There is a free workshop too in portland
    Commercial Basics of Going Solar – 03/26/10 – Portland
    When Mar 26, 2010
    from 01:00 pm to 02:00 pm
    Better Living Show, Portland Expo Center, 2060 North Marine Drive Portland, OR 97217

    http://www.suvlav.com Equity research center in India
    call 91-9883086212, 91-9804236100

    India is a major player in renewable energy field
    Some of companies such as
    Indian renewable energy company

    Suzlon Energy Ltd : Among top 10 wind power company, Market leader in Asia and 3rd largest wind turbine manufacturer in the world, Suzlon Market Share (Combined with REpower) rose to 12.3%

    NEPC India Limited : Manufacturer of parts of wind turbine TOWER,BLADES,NACELLE,HUB,MAIN SHAFT,MAIN BEARING,GEAR BOX,BRAKE, YAW SYSTEM, COUPLING, GENERATOR,SENSOR(Different sensors are used in turbines for monitoring. They are as listed below :

    a. Anemometer – to measure the wind speed.
    b. Wind Vane – to sense the wind direction
    c. Tacho rotor sensor – to measure the rotor RPM.
    d. Tacho gen. sensor – to measure the generator RPM
    e. Yaw sensor – to measure the yawing angle of the nacelle
    f. Vibration sensor – to sense the vibration of the tower
    g. Twisted cable sensor – to feel the twist in the power cable of the generator.
    h. Temperature sensors – to measure the temperature of main bearing, gear oil, generation winding etc.

    POWER PANEL,The circuit breakers, CONTROL PANEL,

    Entegra : Solar Water Heating Systems, Solar-Wind Hybrid Systems, Small Wind Turbines ..

    Epic Energy Ltd : Solar Water Heater, Solar Lantern, Solar Street Light, Wind – Solar Hybrid (for remote power solutions)

    IKF Technologies Ltd : IKF Green Fuel Ltd. is one of the front runners in the Bio-fuel industry

    Veer Energy & Infrastructure Ltd : one of the top independent Wind farm developers in India

    Ushdev International Limited : Generating wind power

    Websol Energy Systems Ltd : Websol Energy Systems is a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India.

    http://www.suvlav.com, Equity research center India call 91-9883086212 //
    91-9804236100

    http://www.suvlav.com

  6. indianequitymarketresearch Says:

    Green energy race..to save earth from pollution
    Indian equity market research center
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088
    Solar thermal energy
    ACME Group of India entered
    into an exclusive licensing
    agreement with eSolar, a producer
    of innovative modular, scalable solar
    thermal power plants in the USA,
    to build up to 1000MW of solar thermal
    power plants in India, over the next 10 years.
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088

  7. indianequitymarketresearch Says:

    Indian equity market research center
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088
    Stem cell research and Insurance company in India
    India September 9,2009 :Insurance company Max New York Life
    announced a tie up with LifeCell International
    (“LifeCell”) India’s first and the largest stem cell banking Co.
    Lifecell preserves stemcells for future treatment of the child
    in case he or she gets some of the degenerative diseases like
    Acute & chronic leukemia ,Beta Thalassemia Major or Sickle Cell Disease
    in future.Research is on to cure Alzheimer's Disease, Atherosclerosis,
    Diabetes, Diabetes,Cardiac Disease Multiple Sclerosis, Muscular Dystrophy
    Parkinson's Disease, Spinal Cord Injury & Stroke etc with stem cell therapies. Max New York Life will offer life insurance options to LifeCell customers helping them meet the future financial needs of their children.
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088

  8. indianequitymarketresearch Says:

    Use eco friendly lighting & save money (read the report)
    http://www.suvlav.com Indian equity market research centre
    Contact: 91-9883086212
    91-9804236100
    91-9830088088 Energy saving
    is becoming more important in developing economy like ours.
    Bulk amount of electricity used in lighting.May be street
    light, Railways and airport lighting.Now incandescent bulb
    with its 1,500 hours life is rapidly becoming a thing of
    the past.Then came the CFL with life span of 10000 hour
    gives light about 60 lumens/watt.But far better is LED's
    having a lifespan of 60000 hours !!! produces 85 or more
    lumen/watt . United states Cities like Raleigh, Ann Arbor,
    Los Angeles, San Jose, and San Francisco have introduced
    to LEDs for street, parking, public place lighting. Toronto
    , Canada, Tianjin(China), and Torraca(Italy) have also
    adopted eco-friendly LEDs. In India LED's are onto explosive
    growth phase.Railways and other , like airports, advertisement
    displays etc will all be converted to LED DISPLAY. A company
    named MIC ELECTRONICS will gain mostly from this trend.They
    are manufacturer of LED lighting and LED video display in India
    http://www.suvlav.com The Equity research centre
    Contact: 91-9883086212
    91-9804236100
    91-9830088088

  9. indianequitymarketresearch Says:

    http://www.suvlav.com
    In the meantime good investments are coming in power sector.It is now high growth sector in India.As expected prior budget a good amount of correction is going on for last two days.Another high growth sector is biotechnology, as India is becoming more and more involved in vaccine making, more and more global manufacturer are planned to establish their manufacturing base in India.
    An unofficial estimate says around 2015 Indian biotechnology sector would drive a turnover of $10 billion (something like Rs 46000 crore in indian currency).Growth in biotech come from clinical research, vaccine & farm biotechnology.
    India is and always been a country of unlimited possibilities…it is now the global investment community who are also joining the growth process
    in India in a big way.
    suvlav research
    91-9804236100
    91-9883086212
    91-9830088088
    http://www.suvlav.com

  10. indianequitymarketresearch Says:

    The battle for MGM
    http://www.suvlav.com
    Contact:
    91-9883086212
    91-9804236100
    91-9830088088
    For MGM : MGM’s current list of potential buyers include Time Warner,
    Lions Gate Entertainment, Summit Entertainment, Liberty Media, News
    Corp and Reliance Entertainment, owned by Anil Ambani. In film class
    we get the motto of MGM “”Arts Gratia Artis”, is a Latin phrase meaning
    “Art for art's sake.”The studio's logo is a roaring lion surrounded by
    a circle inscribed with the studio's motto. The logo, which features
    “Leo the Lion,” was created by Dietz in 1916 for Goldwyn Pictures and
    updated in 1924 for MGM's use. Lot of good moments in our life is
    associated with this word MGM

    http://www.suvlav.com
    Contact:
    91-9883086212
    91-9804236100
    91-9830088088

  11. indianequitymarketresearch Says:

    Equity research center India http://www.suvlav.com
    Equity research centre, India
    Contact: 91-9883086212
    91-9804236100
    91-9830088088

    World over green energy is getting popular, Terms such as bio-diesel, wind power, solar photo voltaic cells, solar power cars, bio gas energy, wind turbines are getting mentioned.
    In USA and India solar photo power is getting due importance.
    There is a free workshop too in portland
    Commercial Basics of Going Solar – 03/26/10 – Portland
    When Mar 26, 2010
    from 01:00 pm to 02:00 pm
    Better Living Show, Portland Expo Center, 2060 North Marine Drive Portland, OR 97217

    http://www.suvlav.com Equity research center in India
    call 91-9883086212, 91-9804236100

    India is a major player in renewable energy field
    Some of companies such as
    Indian renewable energy company

    Suzlon Energy Ltd : Among top 10 wind power company, Market leader in Asia and 3rd largest wind turbine manufacturer in the world, Suzlon Market Share (Combined with REpower) rose to 12.3%

    NEPC India Limited : Manufacturer of parts of wind turbine TOWER,BLADES,NACELLE,HUB,MAIN SHAFT,MAIN BEARING,GEAR BOX,BRAKE, YAW SYSTEM, COUPLING, GENERATOR,SENSOR(Different sensors are used in turbines for monitoring. They are as listed below :

    a. Anemometer – to measure the wind speed.
    b. Wind Vane – to sense the wind direction
    c. Tacho rotor sensor – to measure the rotor RPM.
    d. Tacho gen. sensor – to measure the generator RPM
    e. Yaw sensor – to measure the yawing angle of the nacelle
    f. Vibration sensor – to sense the vibration of the tower
    g. Twisted cable sensor – to feel the twist in the power cable of the generator.
    h. Temperature sensors – to measure the temperature of main bearing, gear oil, generation winding etc.

    POWER PANEL,The circuit breakers, CONTROL PANEL,

    Entegra : Solar Water Heating Systems, Solar-Wind Hybrid Systems, Small Wind Turbines ..

    Epic Energy Ltd : Solar Water Heater, Solar Lantern, Solar Street Light, Wind – Solar Hybrid (for remote power solutions)

    IKF Technologies Ltd : IKF Green Fuel Ltd. is one of the front runners in the Bio-fuel industry

    Veer Energy & Infrastructure Ltd : one of the top independent Wind farm developers in India

    Ushdev International Limited : Generating wind power

    Websol Energy Systems Ltd : Websol Energy Systems is a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India.

    http://www.suvlav.com, Equity research center India call 91-9883086212 //
    91-9804236100

    http://www.suvlav.com

  12. indianequitymarketresearch Says:

    Green energy race..to save earth from pollution
    Indian equity market research center
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088
    Solar thermal energy
    ACME Group of India entered
    into an exclusive licensing
    agreement with eSolar, a producer
    of innovative modular, scalable solar
    thermal power plants in the USA,
    to build up to 1000MW of solar thermal
    power plants in India, over the next 10 years.
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088

  13. indianequitymarketresearch Says:

    Indian equity market research center
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088
    Stem cell research and Insurance company in India
    India September 9,2009 :Insurance company Max New York Life
    announced a tie up with LifeCell International
    (“LifeCell”) India’s first and the largest stem cell banking Co.
    Lifecell preserves stemcells for future treatment of the child
    in case he or she gets some of the degenerative diseases like
    Acute & chronic leukemia ,Beta Thalassemia Major or Sickle Cell Disease
    in future.Research is on to cure Alzheimer's Disease, Atherosclerosis,
    Diabetes, Diabetes,Cardiac Disease Multiple Sclerosis, Muscular Dystrophy
    Parkinson's Disease, Spinal Cord Injury & Stroke etc with stem cell therapies. Max New York Life will offer life insurance options to LifeCell customers helping them meet the future financial needs of their children.
    http://www.suvlav.com
    91-9883086212
    91-9804236100
    91-9830088088

  14. indianequitymarketresearch Says:

    Use eco friendly lighting & save money (read the report)
    http://www.suvlav.com Indian equity market research centre
    Contact: 91-9883086212
    91-9804236100
    91-9830088088 Energy saving
    is becoming more important in developing economy like ours.
    Bulk amount of electricity used in lighting.May be street
    light, Railways and airport lighting.Now incandescent bulb
    with its 1,500 hours life is rapidly becoming a thing of
    the past.Then came the CFL with life span of 10000 hour
    gives light about 60 lumens/watt.But far better is LED's
    having a lifespan of 60000 hours !!! produces 85 or more
    lumen/watt . United states Cities like Raleigh, Ann Arbor,
    Los Angeles, San Jose, and San Francisco have introduced
    to LEDs for street, parking, public place lighting. Toronto
    , Canada, Tianjin(China), and Torraca(Italy) have also
    adopted eco-friendly LEDs. In India LED's are onto explosive
    growth phase.Railways and other , like airports, advertisement
    displays etc will all be converted to LED DISPLAY. A company
    named MIC ELECTRONICS will gain mostly from this trend.They
    are manufacturer of LED lighting and LED video display in India
    http://www.suvlav.com The Equity research centre
    Contact: 91-9883086212
    91-9804236100
    91-9830088088