Pre - Fed Day

Markets are holding up in consolidation mode stayed in narrow range going into the Fed day tomorrow. Markets have advanced its tactics so much changed just a few years ago. With the Fed announcement and the market reaction based on the interpretation and speculation is a wild card with the consideration which I noted below. Let's see how market reacts tomorrow after the Fed announcement, but most of traders are probably exploding inside by the market actions -- patience surely is needed to remain sane.

Markets closed near at pivots as noted below, and the market actions are quite depressing to say the least for those who are looking for a correction while for those parked money in the markets already have gone to beach and for vacation knowing the Fed and G20 are guaranteeing the market safety -- of course, pun is intended, but that is, so far, the case.

$COMPX 1673.81
$INDU 8016.95
$INX 855.16
~.
DIA 80.08
IWM 47.10
QID 39.00
QLD 32.55
QQQQ 33.45
SMH 19.57
SPY 85.50



Tuesday, April 28, 2009 9:06:37 AM

Markets are trading at the VST lower supports in premarket. With the 2-day Fed day, we could see an intraday volatility even though pre-Fed day going into the Announcement at 2pm is relatively quite.

SPY is trading at 84.91 (SPX 845 +/-) in premarket.

SPX 830 intraday T/Pivot

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Monday, April 27, 2009 7:37:13 PM

Major Market Analysis ~

charts ~ http://trend-signals.com

As alerted at 4/27/2009 3:13:26 PM, markets formed double top, after fading the morning GAP making the HOD at SPX 868.83, DOW 8122.56, and Nasdaq 1700.53, then retested the top and swing to near the LOD.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37344474

No sell in May and go away?
Also, noted the series of diamond formations for the last 5-6 weeks in consolidation mode in a price channel after initial thrust from the SPX 666 low. Evidently, much waited lower market targets will not be see anytime soon at this rate

Even though markets are continuing to show negative divergences, markets are still trading in the recent up trend.

Shall we see a confirmation of a meaning market correction? In this volatile markets, VST traders should be careful thinking that markets will break to the downside as markets are compressing to make a next move. Anticipating a pull back at this point is an easy expectation, but markets can surprise many, therefore, need to be cautious.

Market Formations:
Most of traders are looking at the same formation: Inverse H&S
As shown on the chart as it is quite obvious formation at this point.
As noted, markets were retracing only Fib 23% since the March rally
Started, and we are still seeing the similar market actions as we have
Seen during the last several weeks. The obvious expectation at this point is
inverse H&S, while H&S formation is quite desirable and hoping for.
Waiting for a directional confirmation is quite obvious at this point.
We can only hope for, PLEASE SELL and GO AWAY for summer.



Major Markets in diamond/triangle formations
SPX is showing a diamond formation as shown below.
Also forming a symmetrical triangle with a window of 845-870 +/-.


SPX is showing a diamond formation as shown below.
Also forming a symmetrical triangle with a window of 85 - 87 +/-.

DOW is showing a diamond formation as shown below.
Also forming a symmetrical triangle with a window of 7800 - 8100 +/-.

Nasdaq rallied along price channel for several weeks

1650 - 1750 +/-. pivots

$BKX trading in symmetrical triangle/diamond formations
30-36 +/- pivots