APRIL 14, 2016, 6:35 AM

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,100, and profit target at 1,950, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains bearish, as the S&P 500 index extends its lower highs, lower lows sequence:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): bearish
Long-term outlook (next year): neutral

The U.S. stock market indexes gained between 1.1% and 1.3% on Wednesday, extending their short-term uptrend, as investors’ sentiment improved ahead of quarterly corporate earnings releases, among others. The S&P 500 index broke above its recent consolidation along the level of 2,050. The nearest important level of resistance is at around 2,080, marked by the late December high. The next resistance level is at 2,100-2,120. On the other hand, support level is at 2,030-2,040, marked by recent consolidation, and the next level of support is at 2,000-2,020, marked by previous level of resistance. The index continues to trade within a descending medium-term trading channel, as the daily chart shows:

…..read more analysis and get bigger charts HERE

also:

Jim Rogers on Currencies, Agriculture and Government Incentives