Morning trading preparation should include Terry Laundry's updates, like this for 6/2

Folks, there are days like this when we don't have a new ChartsEdge map shared publicly - it's okay because don't forget they provided their weekly cycle forecast (use "ChartsEdge weekly" label), plus if you're a subscriber just go to that page. Either way, don't overlook Terry Laundry's daily updates each morning, at his T Theory™ Foundation: T Theory™ Daily Updates, Forecasts, Charts and Data webpage, at http://www.ttheoryfoundation.org/t-theory-calculations.html

For example, here's what Terry is showing this morning already (and he might add more by 9:00 am so do double-check it). I'm not sure if his fonts will display correctly, so just go to his webpage to see the text display correctly. And drop by there each morning for his updates. He may not concentrate on the intraday focus for day trading, but his updates are useful context for swing trading and often his levels dovetail with those that day traders need to know. (As for me, I'm guessing today puts in a swing high that will roll down later this week to start testing 1060 SPX again.)

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A Daily Chart with Data and my Comments for the prior days close will be posted here by 9 AM as announced below, baring technical problems or prior notice. My Data Source is Markets Diary: Closing Snapshot - Markets Data Center - WSJ.com . My key T Theory Tutorials are at T Theory™ Foundation

Chart and Data Below (Click on PDF link below)

Terry's T Theory™ Comment for June 1 2010 Close: The market is in a potentially dangerous long term situation right now. See the daily chart below and listen to the Audio commentary that follows.

Download SRTvo20100601pdf

Audio Commentary Download TTF20100601

Summary: My bearish forecast can take either the form of a steady decline over time or a selling panic-. A steady decline only requires the S&P to stay below the mid channel black line for enough weeks to establish a downward sloping set of upper and lower envelopes that can contain bear market rallies.

New Data Source: The PDF File below will provide students of T Theory a full data base of the daily indicators for the last 280 market days. My daily chart above always plots 280 trading days and prints the data for the last 5 days data. This table gives a longer history and matches the graphic plot. Hint: use the day number in the left column to do "days between dates" calculations for the longer Ts. I have updated this file to April 30 below.

Latest Data File Download 280DaysTTheoryData20100601 Jim's Excel SS Download T theory data inverted

To calculate the Advance-decline Oscillator see T Theory™ Foundation: Short Range T Theory™ Comments for April 23 2010 Data

See the market summary trends for Sundays at Terry Laundry's T Theory Observations

See Recent Posts at bottom of page. For a full review of all posts since January 5 2010 go this link then go to the bottom of the page and scroll back in time: T Theory Foundation