SPX Market Report and Economic Data for Monday 31/01/2011

Alert last thought:

 New highs today but with this close can have here potential bearish divergence price vc indicator.

Sellers need to break first today lows (1294.41) and next close 60 minutes chart below 1288.

Commentary Daily chart SPX500 EOD - Swing trader

Above 1271 trend remain bullish target range [1297,1324] possible top next months. Last friday 1303 if this is Major or Minor top sellers need to close daily chart below last swing low 1271.

Daily close below 1271 next area [1259,1262].

If close below 1259 win momentum target 1235 possible extension 1220.

Area Daily chart - Position

Suport - 1220, 1235, [1259,1262] and 1271

Resistance – 1287.50, 1303, 1310, 1324, 1350;

Commentary 60 minutes chart SPX500 EOD - Day trader

Below 1287 and more important below 1292 sellers control expect more damage.

Eyes 1271 key level below next area [1259,1262]

Area 60 minutes Chart – Daytrading

Suport - 1220, 1235, [1259,1262] and 1271

Resistance – [1280,1282], 1287,1292, 1297 and 1303

Click to zoom in.

Economic Data/Events week 31-04 /02

Monday

8:30 kicks it off with Personal income/spending and PCE prices;

9:45  Chicago PMI;

Tuesday

10:00 Construction spending and ISM manufacturing;

Afternoon  monthly Auto sales;

Wednesday

 ADP employment report;

Thursday

- Weekly Jobless claims;

- Q4 Productivity;

- Factory orders;

- ISM services;

Friday

- Monthly Payrolls report with the Unemployment rate.

SPX Market Report and Economic Data for Monday 31/01/2011