S&P 500 has three consecutive days of positive Close this week. Could traders make it four, we will find out later on today. Any test of yesterday's Close could provide direction for the day. Level to watch 4507 --- 4509 Report to watch: US: Pending Home Sales Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET
S&P 500 INDEX MODEL TRADING PLANS for FRI. 08/25 Notwithstanding Chair Powell's Jackson Hole speech, our models continue to not give credence to the bounce above 4400 in SPX. We need confirmatory signs before we negate our bearish bias. In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down,...
S&P 500 INDEX MODEL TRADING PLANS for THU. 08/24 In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support". The index closed below that level on Thursday, and took down multiple support levels since then, and our models' bias has turned outright bearish on...
After last week's sell off, traders are trying to push S&P higher. Any test of ETH session High could provide direction for the day. Level to watch : 4460 ---4462 Report to watch: US:EIA Natural Gas Report 10:30 AM ET
S&P 500 INDEX MODEL TRADING PLANS for WED. 08/23 In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support". The index closed below that level on Thursday, and took down multiple support levels since then, and our models' bias has turned outright bearish on...
S&P 500 INDEX MODEL TRADING PLANS for TUE. 08/22 In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support". The index closed below that level on Thursday, and took down multiple support levels since then, and our models' bias has turned outright bearish on...
S&P 500 INDEX MODEL TRADING PLANS for MON. 08/21 In our trading plans published Thu. 08/17, we wrote: "The index is approaching the 4400 level this morning. If it breaks down, then 4385 will be the next support". The index closed below that level on Thursday, and took down multiple support levels since then, and our models' bias has turned outright bearish on...
S&P 500 INDEX MODEL TRADING PLANS for FRI. 08/18 To start the week, our trading plans published on Monday, 08/14, stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". On Wednesday, this level was breached. In our...
Last Week : Last week market went sideways between our Key Resistance and Current Support area which we established on Sunday. Selling seemed very mechanical again because we didn't have size plowing through important levels and continuing, instead we get holds/bounces then continuation which so far has been trapping more new longs on the way down who are...
S&P 500 INDEX MODEL TRADING PLANS for THU. 08/17 Our trading plans published on Monday, 08/14, stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". Yesterday, this level was breached. We also wrote in that trading...
With the flip of a calendar in August, Bears seems to be in control. Any test of Yesterday's LOW could provide direction for the day. Level to watch : 4432 --- 4430 Reports to watch: US:Leading Indicators 10:00 AM ET USA US:EIA Natural Gas Report 10:30 AM ET
S&P 500 INDEX MODEL TRADING PLANS for WED. 08/16 Our trading plans published on Monday, 08/14, stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". This support level is tested on the index as of this morning. Any...
S&P 500 INDEX MODEL TRADING PLANS for TUE. 08/15 Our trading plans published yesterday stated: "The level of 4495-4505 is now the immediate key level for both Support and Resistance. 4445-4452 is the next support level, a daily close below which will turn our models cautiously bearish". This support level is tested on the index as of this morning. Any sustained...
S&P 500 INDEX MODEL TRADING PLANS for MON. 08/14 With the Fed's interest rate policy, inflation, and the earnings almost in the rear view mirror, markets might be going back to the basics this week in search of a direction. Our trading plans published on Thu., 08/10 stated: "Our models continue to indicate choppy markets until this resolves in either direction,...
Our trading plans published yesterday stated: "Our models continue to indicate choppy markets until this resolves in either direction, notwithstanding this morning's push up following the rising-not-so-fast inflation numbers". Today's PPI numbers have validated why we didn't give too much weight to yesterday morning's CPI numbers and the markets' bounce following...
S&P 500 INDEX MODEL TRADING PLANS for THU. 08/10 With the Fed and Interest Rates not burning issues anymore (at least for now), with major earnings mostly in the rear view mirror, markets are struggling to find a direction and a relevant factor to latch onto. Currently, there doesn't appear to be any specific factor driving the markets in any direction, leading...
S&P 500 INDEX MODEL TRADING PLANS for WED. 08/09 With the Fed and Interest Rates not burning issues anymore (at least for now), with major earnings mostly in the rear view mirror, markets are struggling to find a direction and a relevant factor to latch onto. Currently, there doesn't appear to be any specific factor driving the markets in any direction, leading...
Yesterday, Futures rallied in to Close after being down about 1%. We will find out if it holds. Any test of Yesterday's High could provide direction for the day. Level to watch: 4530 ---4532 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET