SPY opened up euphorically, up 2.9% at it's high for the day. Strong 2 way trade ensued as expected (noted yesterday). Index closed up 1.3%, but much lower than the open. Thursday's strong down trend day was followed by sell into strength of Friday. Rips were sold, dips were grudgingly bought. SPY was down as much as 0.6% before buyers closed up the index for...
A great trend day for bears ended with SPY smashed for a loss of -5.7%. But still above support zone. ES futures are nice up 54 handles suggest a robust 1.8% higher open for SPY as of now. I expect vigorous 2 way trade in RTH. Indicator has started to develop divergence. But one day a trend does not make Above SPY 300 and the ball is still with the bulls.
SPY, after a cha-cha-cha move following FOMC statement, closed down -0.5%. The market is showing a change in character as shown by violent two way trades in the past few days. VIX is creeping up, currently in high 20's Following through on the nascent decline ES futures remained red on overnight trade, currently down 45 handles. FED says rates will remain...
For a change SPY closed down -0.75% yesterday. ES futures are green again by 10 handles as of now promising a higher open for SPY. Today FED speak happens. Their policies have been very supportive of the market. I expect more of the same. RSI remains overbought. Options put/call ratio near record low. But indicator has not flipped yet. Waiting for divergence...
Yesterday tech heavy NDX closed at all time high while SPY closed up a healthy 1.21%. Bullish tone persists in the markets. ES futures are weak in the morning today, down -28 handles. Will that spill into day time trading remains to be seen. RSI is above 70, an overbought condition, but can become more overbought if the bulls keep snorting. Put/Call ratios...
I we look at the EW count and cycles we can expect a corrective move for the indices this week.
SPY closed strong last Friday and finished with a gain of 2.56%. ES futures are again perking up +20 handles as of now. Same old story. SPY remains bullish. RSI above 70% and can get higher. Looking for the next two weeks to develop divergence in indicator for sign of weakness. But currently, all systems go for bulls.
SPY close down yesterday -0.26% snapping a 4 day winning streak. The Nasdaq-100 index briefly touched a record high before rolling over to close more than 0.7% lower. Labor Department’s latest jobs report is scheduled for Friday at 8:30 a.m. ET. Expected unemployment 20%. ES futures are again higher 30 handles (+0.97%) as of now, as bouyant Wall Street/...
SPY closed up 1.33% up yesterday, as bulls are handling all negative news about very weak economy, corona, unemployement topping 40 millions. ES futures futures are trading about -18 handles and have been under pressure in overnight trading. The latest weekly initial jobless claims count totaled 1.877 million, against an expectation of 1.800 million. But...
Germany is set to approve a new fiscal stimulus package worth an estimated 80 billion euros. Makes for ES futures drifting up 0.45% and a solid bid underneath the markets as of now. Yesterday SPY closed up 0,40% and the grind higher continues. WTI crude is higher by about 2% as of now, which augers well for the small caps. U.S. CONGRESSIONAL BUDGET OFFICE...
$SPY gapped up on the heels of $ES futures bullish action yesterday, but sellers showed up at the open and slammed $SPY down to a low of -0.7%, before buy the dip crowd showed up and closed SPY at the high of the day, firmly above its 200 DMA. The S&P 500 advanced 1.5% on Wednesday. Advance led by many of the value-oriented stocks. IWM (+3.1%) outperformed...
$SPY closed up +1.7% but the bullish day was marred by US tweets re China. $SPY managed to close unconvincingly above resistance at 296. $ES futures are pointing to a down open which will drop $SPY back again in the range. So range bound trading continues.
As expected yesterday the morning session had a positive tone, which gave way to strong selling late afternoon. $SPY close down 1.03%. However, bulls are unfazed and $ES futures are pointing to about 1.2% higher open. Bulls are smelling victory seeing the resistance level so close but have been frustrated the last two days. $ES futures inventory is almost 100%...
Most $SPY gains were made yesterday before the day session began. During day trading, $SPY gains were limited and traders took profit at the close. We have seen this movie before. $ES futures are down 0.42% as of now. European car sales fell 76% from a year earlier in April. Powell and Mnuchin will testify before the Senate banking commitee today so a...
$SPY hammered again on Friday after opening gap down. Twice in a row $SPY has done that. $SPY is channeling in a wide range from 270 to 296. Volatility is decreasing as $SPY consolidates. $Oil is stabilizing which will benefit beaten down energy sector. $ES futures are now poised to gap up about 1.2% on open. Powell's reiteration over the weekend of unlimited...
$SPY lost the 20 DMA yesterday. The intermediate trend is likely to be down if 20DMA cannot be reclaimed. $ES futures are trading down about -25 handles as of now pointing to a down gap open for $SPY. Indicators have turned, are turning, pointing to downtrend.
$SPY got liquidated yesterday late afternoon and lost -1.99% to settle at 286.67. If the weakness is real then a follow through day should occur. $ES futures have been drifting higher all night and are up 0.6% (17 handles) as of now. The equity put/call ratio is hovering aroung 0.5, which calls for caution. Today investors await Federal Reserve Chairman...
$SPY barely closed positive by 0.02% yesterday. Tech heavy Nasdaq was again strong as the index is well stacked with companaies that have increasing revenue stream from digitization in the coronavirus economy. $ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and...