SIR Daily Snapshot_ v.2.65_February-28-20

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 and Technical Briefing (few days to few weeks outlook): The sum of the technical evidence as of 12:30 PM CST on 2/28/20 is suggesting a bearish overall short-term technical condition. With the bearish condition in force we continue to watch for key short-term resistance levels to likely defend against rally attempts. For the bulls to regain control of the short-term the SPX currently would likely need a close over 3188 and a push above 3278. Note…a cycle bottom on the daily chart is now pending and projected due between 2/27-3/4/20. 

Upside Overview:

• Short-Term Swing Trader (Few days to few weeks) –
  • On 2/26/20 the SPX tested and failed as it challenged the lower-end a declining Minor Resistance Zone from 3173-3205 on its first attempt.
  • The SPX currently has a Minor Resistance Zone from 2977-3020
  • The SPX currently has a KEY Minor Resistance Zone from 3059-3107
  • The SPX currently has a KEY S-T Resistance Zone from 3125-3189

Downside Overview:

• Short-Term Swing Trader (Few days to few weeks) –
  • On 2/24/20 the SPX gapped below KEY short-term support zone from 3320-3279
  • On 2/24/20 the SPX violated a MAJOR short-term 78.6 Fib support level at 3252
  • On 2/25/20 the SPX violated a KEY Cycle Support Low at 3214
  • On 2/26/20 the SPX violated two intermediate support zones from 3204-3136
  • On 2/27/20 the SPX violated a KEY intermediate support zone from 3103-3060 and broke just below an initial L-T support zone from 3042-2983
  • On 2/28/20 the SPX gapped into a more formidable longer-term support zone from 2906-2859 that is trying to hold on a first test. 
  • Below 2859 the SPX has a KEY longer-term support zone from 2840-2812 that is likely to put up a fight to contain the decline in the short-term if the prior L-T support zone fails.

---

 

---

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

Please refer to the Zoom Live Stream for the most current SIR Intraday Grid information…https://zoom.us/j/923557069?pwd=dnlHY244NzY5Yjg2U1dqbVFkTVBSZz09

---

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”)

NOTE: Daily Charts will be updated again over the weekend. 

---

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

Please refer to the Zoom Live Stream for the most current SIR Intraday Grid information…https://zoom.us/j/923557069?pwd=dnlHY244NzY5Yjg2U1dqbVFkTVBSZz09

---

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”) 

NOTE: Daily Charts will be updated again over the weekend.

---

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

Please refer to the Zoom Live Stream for the most current SIR Intraday Grid information…https://zoom.us/j/923557069?pwd=dnlHY244NzY5Yjg2U1dqbVFkTVBSZz09

---

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”)

NOTE: Daily Charts will be updated again over the weekend.

*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.