Strong Jobs Numbers or Trade War Tariffs? In a normal world, the strong jobs numbers would actually make any rate cut expectations ludicrous; but, as we all know, there is nothing normal about our world as far as "political leadership" is concerned. Hence, there can be another factor - aka "the (self inflicted) Trade War Tariffs" - that can drive the interest...
Overnight session market has been sideways except this morning when bulls started to push higher. It might be a good idea to keep an eye on 50% range area from yesterday's RTH session. Level to watch 2944---2946 Reports to be aware of are as follows: US:Consumer Sentiment 10:00 AM ET US:Factory Orders 10:00 AM ET
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts. THE GIST: Medium-Frequency Models: Lead to +38.36 index points in gains on one long and one short. Aggressive, Intraday Models: Lead to +37.19 index points in gains on one long and...
Even though last couple of sessions market has sold off aggressively, this is just a pull back. I believe S&P will bounce soon and make new ATH. There is strong support at .382 and .50 Fibonacci levels. My pattern suggests that we should find out next week if market will resume its original up trend or continue to sell off.
Overnight session market has rallied but barely got above 50% range of yesterday's RTH range. We could expect a rally and perhaps a sell off. Level to watch: 2985----2987 Few reports to keep an eye on: US:PMI Manufacturing Index 9:45 AM ET US:ISM Mfg Index 10:00 AM ET US:Construction Spending 10:00 AM ET
It seems like it is going to be a range bound day today until Fed announcement. Level to watch 3014---3016 Few reports that could impact the market: US:Chicago PMI 9:45 AM ET US:State Street Investor Confidence Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Meeting Announcement 2:00 PM ET US:Fed Chair Press Conference 2:30 PM ET
All night so far market has been selling off. I would expect Bulls to defend 3000 level and try to reverse for the day session in anticipation of FOMC meeting tomorrow. Level to watch 3006 --- 3004 Couple of reports that could impact the market: US:Consumer Confidence 10:00 AM ET US:Pending Home Sales Index 10:00 AM ET
During overnight session market bounced off 50% range of Fridays RTH. Traders should look for a test of overnight Low before deciding on direction. If market does rally, then Fibonacci 1.272 level would have very strong resistance. Level to watch 3019 --- 3021
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts. THE GIST: Medium-Frequency Models: No trades were planned for the day. Aggressive, Intraday Models: Lead to +12.60 index points in gains on one long. THE DETAILS: For the...
Earnings Earnings Everywhere...And a Lot of Profits to Rejoice With the busiest day of the earnings season showing off some strong earnings, investors appear to be impressed and bidding the markets up this morning. As we have been writing this week, unless some major negative headline or narrative hits the wires, expect no bearish sentiment to sweep the...
Yesterday market tested Wednesdays low and started to rally. During overnight session, market tested yesterdays RTH high. Today, perhaps market will expand its Fibonacci range to 1.272 of yesterdays RTH range. We could expect a test of overnight High before market decides its direction. Level to watch 3015 --- 3013
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts. THE GIST: Medium-Frequency Models: One long opened at 2990 on Tuesday and carried into the session with a 9-point trailing stop anchored at 3009.59 (erroneously printed as 2909.90...
Overnight session market rallied all night to sell off this AM. Still it is above .382 level of yesterdays RTH session, which would be Bullish. Level to watch 3020 --- 3022
Earnings, Earnings Everywhere... With the Mueller testimony in the rear view mirror, markets to shift focus onto earnings announcements today (barring any major, unexpected developments elsewhere). Many analysts and research firms are cautioning about the lofty valuations and the potentially dwindling earnings growth. While such headlines may appear tempting...
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts. THE GIST: Medium-Frequency Models: One long opened on Tuesday, 07/23, is being carried to the next session with the trailing stop anchored at 2909.90. Aggressive, Intraday...
Trump Trumps Mueller or Vice Versa? That is The Question Today! Markets are likely going to be fixated on Mueller's testimony today and be stuck in a tight range until it is over. Which way the markets would break out would depend on the question of the day: Would Mueller Trump Trump or Trump Would Trump Mueller? We do not know the answer and no one does. We all...
During overnight session, market sold off below 50% of yesterdays RTH. Market will probably test overnight high and if that does not hold, than we can see a sell off. Level to watch 3008 --- 3006 Reports that could effect the market: US:New Home Sales 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET
Results of our models' trading plans, published in the morning, are now available. Anyone can verify/cross-check the triggering of these trades from any source that provides charts. THE GIST: Medium-Frequency Models: One long opened at 2990 and carried through the end of session and into the next session with its 9-point trailing stop anchored at 2996.90. ...