A Look at the S&P

Here are a couple of S&P charts with the TLT Trender v2 indicator. One is the 4 hour chart and the other is the daily. I generally look at these two time frames when trading equity indexes. Here's the 4 hour chart:Well, there are both bullish and potential bearish indications on the 4 hour chart. I would say that the blue bar reading along with the positive fisher ma reading tells me that the S&P will likely be going higher in the near future...within the next couple of weeks. This is not for sure of course, however, I feel that the odds are with the up move. I'll still be waiting for a green bar buy signal before jumping in.

And here is the daily chart: The daily chart is in a buy mode (green bar), but as you can see from the above chart, we're stuck in a range. I'll be watching the key levels (approx. 945 on the upside and 890 on the downside) to look for signs of what is to come. We could see a big move higher if the S&P breaks above and holds the 945 level. The opposite with a close below 890.

I'll be looking for a buy signal on the 4 hour and then hop on when/if it registers. If it does, I'd be willing to bet that it is simultaneous to a break out on the daily chart. We'll see.

TLT