20081031 The reversal is in place, with the S&P 500 rising by over 10% this week, the best performance by the index this year. Significant is the first back to back gain in terms of diily closes for the ES and cash S&P 500 index. The triple spike down is a sort of poor man's (pardon the pun) inverted H&S formation.

E-mini S&P 500 chart

20081017 The end of a historic tumultous week for the S&P 500 futures, where options expiration takes effect today. The Dow closes with its best ever positive performing week, while on Wednesday, it saw its biggest ever plunge since 1987. Friday's closing and trade is more governed by this than anything else. What I suspect is that stock indices will be traded in the range set this week.

E-mini S&P 500 chart

20081010 So much for the short term rebound. The huge volume for the market yesterday and the freefall on the open and subsequent rebound, is a hallmark of capitulation. We are with the commentators, "whatever you buy today on the stock market in a couple of weeks there should be in profit"

E-mini S&P 500 chart

10081006 Fingernails broke but still trying to hold on. Could be very near to a sort term bottom for the ES, emini S&P500 futures.

E-mini S&P 500 chart

20081004 Another tumultous week for the stock indices. Chart of ES looks like "man just fell off the cliff and hanging on by his fingernails". What might happen is that the market will make one big selloff with huge volume, indicating the bottom of the market. Let's see if this happens. Sometimes what we think will happen may not happen.

E-mini S&P 500 chart