SIR Daily Snapshot_ v.1.66_October-1-19

It is a fundamental truth that the inherent nature of the markets always offers the possibility that anything can happen. Risk is always present for upside and downside surprises. As traders, we should be cognizant of this fact and structure our trade planning and risk management accordingly – whether the technical evidence is clearly bullish, bearish or neutral with mixed signals. At askSlim we are bull/bear agnostic. The market messages drive our technical outlook. The analysis contained in the SIR products is developed as much as possible from a proprietary blend of objectively engineered trend, momentum and cycle studies and we look for alignment at multiple timeframes so we can provide the highest probability of directional bias along with projected key support and resistance levels. We will always provide upside and downside viewpoints as well.

S-T Directional Bias (few days to few weeks outlook): The sum of the evidence at this time suggests a neutral overall short-term technical condition. 

We continue to keep a close eye on the price action’s impact on the technical conditions at multiple time frames.

Upside Overview:

• • Intraday Swing Trader –
    • On a breakout above 2982 the SPX will likely enter an upside intraday breakout acceleration zone from 2983-2992
    • The SPX has an intraday resistance zone from 2993-2996.
    • On a breakout above 2996 the SPX will likely enter an upside intraday breakout acceleration zone from 2997-3003
    • Above 3003 the SPX has a key intraday resistance zone from 3004-3007
    • On a breakout above 3007 the SPX will likely enter an upside intraday breakout acceleration zone from 3008-3012
    • Above 3012 the SPX has a key intraday resistance zone from 3013-3019
  • Short-Term Swing Trader (Few days to few weeks) –
    • The SPX has a minor resistance zone from 2975-2994
    • Above 3005 we are watching a Fib Ext zone (3023-3033) as initial area where the SPX may stall or reverse.
    • Above 3033 we are watching a second Fib Ext zone (3052-3064) as potential area where the SPX may stall or reverse if the prior zone fails to contain the advance.

  Downside Overview: 

  • Intraday Swing Trader –
    • On a breakdown below 2972 the SPX will likely enter a minor downside intraday acceleration zone from 2971-2965
    • The SPX has an intraday support zone from 2964-2959
    • Below 2959 SPX has a key intraday support zone from 2958-2952
    • On a breakdown below 2952 the SPX will likely enter a downside intraday acceleration zone from 2951-2943
    • Below 2943 SPX has a key intraday support zone from 2942-2937

   

  • Short-Term Swing Trader (Few days to few weeks) –
    • On 9/24 the SPX broke through the minor support zone from 2996-2970
    • Below 2970 SPX currently has a key short-term support zone from 2946-2898
    • The SPX has a Major short-term support level near 2865
    • The SPX has key intermediate support zone from 2802-2767
    • Below 2767 the SPX has an initial long-term support zone from 2755-2715
    • NOTE: The SPX has an intermediate cycle low support level from the weekly chart at 2728.81. A violation of this level would shift the weekly cycle configuration from positive to negative. 

 

---

 

---

15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- (with upcoming session view)

---

2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones and Technical Notes

---

Slim’s Annotated SPX Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

 

---

 

15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- (with upcoming session view)

---

2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones 

---

Slim’s Annotated NDX Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

 

 

---

 

15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- CHART  (with upcoming session view)

---

2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones 

 

Slim’s Annotated RUT Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

 

*askSlim Trend & Momentum Tracker

---

2hr Intraday Area Chart “Comparison” with SLIM Ribbon Momentum Indicator & MCI

• Slim Ribbon Momentum Key
  Green = Positive Momentum
  Red = Negative Momentum 
  Purple = Neutral Momentum
• Hull Moving Average (HMA) Key
  Green = Positive Condition
  Purple = Negative Condition
  

 

• New to Slim’s Charts? Click the following link to learn more. Slim’s Chart Training

 

• Click on the following link to learn more about Slim’s Trend Momentum Tracking Tool

 

• Our use of “Near-Term” refers to the use of 2hr intraday charts and other trend analysis that is assimilated from market data over the last 5-7 trading days. Our use of “Short-Term” refers to the use of primarily daily charts and other trend analysis that is assimilated from market data over the last few to several weeks. Our use of “Intermediate-Term” refers to the use of primarily weekly charts and other trend analysis that is assimilated from market data over the last several weeks to several months. Our use of “Long-Term” refers to the use of primarily monthly charts and other trend analysis that is assimilated from market data over the last several months to several years.