Market has rallied for several days without any PB. Any test of ETH session high could provide direction for the day. Level to watch: 4428 --- 4426 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET US: Fed Chair Press Conference 2:30 PM ET
S&P 500 INDEX MODEL TRADING PLANS for TUE. 06/13 With the post-CPI spike and the subsequent early session market action, our models are flashing potential for a bull trap ahead, possibly once the "fed pause" becomes official tomorrow. As we first stated to start this week, if you are a bull, it may be prudent to take some profits off the table; if you are a bear,...
Range is very clean. It is very clear where the price will go. I hope you can see this. All ranges of this range worked sharply. While individual investors buy the break out, you can sell it. Have a nice one and good trading!
S&P 500 INDEX MODEL TRADING PLANS for WED. 06/07 The precarious rally of the last month has been baffling many, with the lack of the breadth in the rally was concentrated in just a handful of big-tech names. With the major news cycles in the rear view mirror, that red hot bull could be losing steam. If the rally does not dissipate this week, then it could be...
After testing 4300 and being rejected, traders seems to be testing previous day's Low. Any test of ETH session High could provide direction for the day. Level to watch 4298 --- 4296 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET
S&P 500 INDEX MODEL TRADING PLANS for MON. 06/05 The precarious rally of the last month has been baffling many, with the lack of the breadth of the rally while it still managed to keep going up on the run up in just a handful of big-tech names. With the major news cycles in the rear view mirror, the move up could be losing steam but if not then it could be...
S&P 500 INDEX MODEL TRADING PLANS for FRI. 06/02 We started last trading week with our trading plans on Monday titled: "Debt Ceiling Deadline Likely to Whipsaw the Markets", and these words: "Expect the approaching debt ceiling deadline to attract both bulls and bears to heightened speculation, resulting in some whipsaw movements until the deadline passes and the...
AMEX:SPY Inverse Head & Shoulders hit my target price today. Time to take some of the table. The green line is support.
$ES1 #emini es futures in a uptrend, inverse head & shoulders pattern still intact. Support is the green dotted line.
S&P 500 INDEX MODEL TRADING PLANS for THU. 06/01 We started this trading week yesterday with these words: "Now that the Debt Ceiling drama is apparently over ("apparently" is the keyword there), can the markets continue to be intoxicated on the nVidia-A.I. exuberance and continue the bullish leg or get back to the macro-economic fundamentals of inflation,...
In an up trending market, pull backs last few days. Any test of yesterday's LOW could provide direction for the day. Level to watch: 4200 ---4198 Reports to watch: US: Chicago PMI 9:45 AM ET US:JOLTS 10:00 AM ET US: Beige Book 2:00 PM ET
S&P 500 INDEX MODEL TRADING PLANS for WED. 05/31 We started this trading week yesterday with these words: "Now that the Debt Ceiling drama is apparently over ("apparently" is the keyword there), can the markets continue to be intoxicated on the nVidia-A.I. exuberance and continue the bullish leg or get back to the macro-economic fundamentals of inflation,...
S&P 500 INDEX MODEL TRADING PLANS for TUE. 05/30 Now that the Debt Ceiling drama is apparently over, can the markets continue to be intoxicated on the nVidia-A.I. exuberance and continue the bullish leg or get back to the macro-economic fundamentals of inflation, valuation, china-slowdown (bad news good news here, with hopes of China stimulus?) etc.? A couple of...
S&P 500 INDEX MODEL TRADING PLANS for WED. 05/24 We started this trading week with our trading plans on Monday titled: "Debt Ceiling Deadline Likely to Whipsaw the Markets", and these words: "Expect the approaching debt ceiling deadline to attract both bulls and bears to heightened speculation, resulting in some whipsaw movements until the deadline passes and the...
After a pop last week, market is pulling back which could be due to lack of confidence by traders in any rally. Any test of ETH Low could provide direction for the day. Level to watch: 4131--- 4133 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Minutes 2:00 PM ET
S&P 500 INDEX MODEL TRADING PLANS for MON. 05/22 Our stance last couple of weeks has been: "Our models are indicating an initial bias towards an inflection point coming soon. Barring any unexpected bullish development showing up on the horizon, chances are that this could be unwinding to the downside". Looks like potentially arriving at some kind of agreement on...
Leading diagonals are subdivided into 3-3-3-3-3. This is clearly a leading diagonal, setting up to be wave 1 of a strong impulse to the upside taking the S&P 500. I am neutral at the moment, looking to enter a long position in the leading diagonal's wave 2 correction. Always remember diagonals have an increased chance of a truncated 5th wave so wave 5 may not ever...
S&P 500 INDEX MODEL TRADING PLANS for FRI. 05/19 Our stance last couple of weeks has been: "Our models are indicating an initial bias towards an inflection point coming soon. Barring any unexpected bullish development showing up on the horizon, chances are that this could be unwinding to the downside". Looks like potentially arriving at some kind of agreement on...