20060126 Nice move up today, stopping the price action and ma crossovers that would have confirmed the continuation of the bear flag. 

E-mini S&P 500 chart

20060125 Sideways indecision, could be continuing to form the bear flag. 

E-mini S&P 500 chart

Some historical statistics on the S&P 500 performance in past years

Max. 1-Year Return (1975) 28.89%
Max. 1-Year Loss (1974) -28.11%
Median Return (1960-2004) 9.97%
Up-years 32
Dn-years 13
Median Gain in Up-years 13.24%
Median Loss in Dn-years -12.17%
Average Gain in Up-years 14.18%
Average Loss in Dn-years -12.58%
Max. Intra-Year Gain (1995) 27.83%
Max. Intra-Year Loss (1974) -35.98%
Median Intra-Year Loss -8.50%
Median Intra-Year Gain 12.88%

E-mini S&P 500 chart

20060124 Rangebound trade. Daily candlesticks look like orming a bear flag, will have to keep an eye on this. 

E-mini S&P 500 chart

20060123 A indecisive sideways candle. 

E-mini S&P 500 chart

20060120 Market plunges due to GE, Citigroup results releaed. In addition options expiration exascerbate the falls. 1272 support gave way very easily. Bulls need to generate the momentum which is now waning, so in the week ahead could be volatile non direction trade. 

E-mini S&P 500 chart

20060118 As we identified on 17 Jan, 1272 was the key level which provided the underlying support for the ES to bounce to close off lows. 

E-mini S&P 500 chart

20060117 Looking like heading towards support at 1272. 

E-mini S&P 500 chart

20060113 Bounces off the 9 ema support 1288 today. Downside support 1271, which might test next week, seeing the momentum on the CCI waning now. 

E-mini S&P 500 chart

20060112 Gaps down and close low, candlestick indicates selling, which could be profit taking after the hefty gains we see in the first sessions in 2006. Good thing the candlestick pattern is not an engulfing bearish, which would have then been a reversal pattern. 

E-mini S&P 500 chart

20060111 New high made today with another buying candlestick. 

E-mini S&P 500 chart

20060110 A seloff in the morning, with strong buyers pushing up to close near highs, a sign of strength in the market. 

E-mini S&P 500 chart

20060106 Big candlestick shows buying interest, continuation of the uptrend. CCI is positive and rising. 

E-mini S&P 500 chart

20060105 A doji candlestick, indicates tussle at resistance. 1270 remains good buy area. 

E-mini S&P 500 chart

20060104 Rally continues. 1270 may be a good support level to long for continuation. 

E-mini S&P 500 chart

20060103 Holds the 1250 level, which now proves good support. An early sell off from worse than expected construction spending numbers, followed by a stunning reversal and strong rally sparked by the release of the FOMC minutes. 

E-mini S&P 500 chart