S&P at the 50 dma

2 weeks ago I said, the S&P was giving a buy signal on the 150 dma and the Monthly S1 pivot(see green arrow). Since then the S&P has rallied 65 points to the 50 dma and Monthly Pivot point. This week, I'm looking for the S&P to go up to the monthly R1 Pivot at 1126, and possibly the Weekly R2 Pivot at 1133. Look for the Monthly PP to hold on any pullback at 1100 or possibly 1088(WS1).

Pivots stop the Dollars rally

I wrote a few weeks ago, that I thought the dollars rally would be coming to and end soon, at the Monthly and Yearly pivots around $80.65. I miss it by .10 cents. The March Dollar futures index went up to the Monthly R1 pivot and the Yearly R1 pivot(see blue arrows at top of chart), did a double top and now is starting to roll over. It could fall fast to the 20 or 50 dma. The Monthly pivot point is in between those ma's at $78.68. Stochastics are also rolling over from the over bought area and is doing a HNS pattern. The trend is still in tact to the upside, probably just needs to shake the weak longs out.

Dow Jones 150 dma

The 150 day moving average(dma) sure has been a popular spot for reversals. The S&P 500, Gold, Dow Jones, etc., all have found a floor there, this past week. Someone big(s) is buying there. Last July, the Dow Jones went down to the 150 dma and then started a 2500 pt. rally(see green arrow above July). Will it do the same this time? My gut says no, but I'm keeping an open mind to the possibility. Anything is possible.

GOLD ms1/150dma

Gold was up $30+ dollars last week, off the Monthly S1 pivot buy signal on the 150 day moving average. Look for Gold to trade this week between 1050 and 1120.

S&P 500 holding the 150 dma

Since the S&P futures went down to the Monthly S1 Pivot(blue circle) at 1041 last week, it only makes sense that the market will go up to the Monthly Pivot Point at 1094 by this Fridays option expiration. The PP is where price is the most efficient. I'm looking for 1094 - 1106(50 dma) this week as long as the 150 dma at 1056 holds. It's also possible, that the S&P pit traders that went long at MS1 will run it up to MR1(1122) or back down to Ms1(1041).