SPX Market Report and Economic Data for Wednesday 09/02/2011

Today another new year high another....green close. We know and see the dipp every day... lolol.

Finally test higher band of the range that i thought last weeks 1324 for potential minor or major top, close 1324 gain +5pts.

Commentary Daily chart SPX500 EOD - Swing trader

Above 1271 trend remain bullish target range [1297,1324] possible  minor or major top next months.

If spx close above 1324 next sessions area [1350,1375].

Still valid potential bearish divergence price vc indicator daily.

Next resistance 1324 and 1350.

Area Daily chart - Position

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

Resistance –  1324, 1350, 1364 and 1375;

Commentary 60 minutes chart SPX500 EOD - Day trader

Above range [1317,1320] and more important above 1309 buyers control.

Expect test 1331 possible extension 1335.

Close 60 minutes below 1309 expect 1301 possible extension [1294,1298]

Resistance [1324] next 1331 and 1335

Area 60 minutes Chart – Daytrading

Suport - 1281,1287,1294,1298, 1309 and 1317 and 1320;

Resistance – 1324, 1331 and 1335

Click to zoom in.

Economic Data/Events week 07-11 /02

■Wednesday: 10:00 AM US Fed Chairman Ben Bernanke Testifies

■Wednesday: 7:30 PM Australia Unemployment

■Thursday: 4:30 AM UK Manufacturing Production

■Thursday: 7:30 AM UK Interest Rate

■Thursday: 8:30 AM US Unemployment Claims

■Thursday: 5:30 PM RBA Governor Stevens Speaks

■Friday: 2:00 AM German CPI

■Friday: 4:30 AM UK PPI

■Friday: 8:30 AM Canada Trade Balance

■Friday: 8:30 AM US Trade Balance

■Friday: 9:55 AM Univ. of Michigan Consumer Sentiment

■Friday: 12:30 PM ECB President Trichet Speaks

SPX Market Report and Economic Data for Wednesday 09/02/2011