Since yesterday, market has been rallying. Currently, it is trading above .618 range of Thursday's RTH. We might see a test of Thursdays high before traders decide on direction. If we do see a sell off, level to watch is 2993 --- 2991. Report that could effect market: US:Existing Home Sales 10:00 AM ET
Rates, Trump, Earnings: Earnings the Starting Theme for Today Markets are getting a positive push from the earnings this morning. Our models indicate sustained bullish moves and/or bullish consolidation until/unless some strong and unexpected negative developments show up in the earnings arena or on the interest rates front (or, on the geopolitical sphere). The...
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: Open short carried from Friday got stopped out for a gain of 10.39 index points. Aggressive, Intraday Models: Lead to +7.00 index points in...
Rates Trump Earnings or Rates, Trump, and Earnings? As the earnings season is kicking into gear, the talk of impending economic slowdown and the calls for rate cuts (as deep as 50 basis points) are morphing from a background noise to a clamor. History shows that the interest rates trump the earnings weakness or any other market fundamentals. And, that there are...
All night market has been rallying slowly. Since on Friday the low of Thursday was tested, it is very likely we will see a test of the high from Friday where market sold off. In addition, 3000 is a psychological level which needs to be defended by both bulls and Bears. If Bulls can not defend 3000, we might see a sell off. Level to watch 2977 --- 2975
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 short opened at 2996 and is being carried into the next session. 9-point trailing stop anchored at 2985.61. Aggressive, Intraday...
In a previous post I talked about this being a risky time to buy for a long term investment in the S&P, Emini, SPY, or MES. Despite what the media may want you to believe - this market is no longer in a strong bull trend. If it was, prices would break out strongly above previous highs. But what is happening instead? Prices go mostly sideways to down,...
Yesterday Bulls could not defend 3000 level, therefore the market sold off. However, market has been rallying during overnight session. Bulls need to take out 50% range of yesterdays RTH session to continue, otherwise we will see another sell off today. Level to watch 2979---2977 Report to watch today: US:EIA Natural Gas 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 short opened at 2998, and is being carried to the next session. Aggressive, Intraday Models: Lead to +5.00 index points in gains on one...
Even though yesterday was a down day but that is bullish. Because, yesterday market sold off to close small gap from last Thursday and bounced. As long as market holds 3000 it should be bullish for the day. I suppose market will test overnight low before any direction. Level to watch 3007----3009 Couple of reports that could impact the market: US:EIA Petroleum...
Complacency or Consolidation? Markets to continue to be driven by - or, appear to be - earnings related headlines but the market action's underpinnings point to technicals rather than fundamentals...for now. The chart shows the trading levels indicated by our models for today's session. For detailed trading plans, please check on our site. NOTES - HOW TO...
Results of our models' trading plans, published Friday 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: Open long stopped out for a loss of 7.98 index points. Aggressive, Intraday Models: Lead to -3.88 index points in losses on a total of...
Last four days market has been rallying and volume has been decreasing. In addition, yesterdays daily bar looks like a spindle. Overnight session, market has been in a trading range. If market cannot take out yesterdays RTH 50% range, we might see a sell off. Levels to watch 3017----3015 Few reports that could impact the market: US:Business Inventories 10:00 AM...
In this Market, Earnings (Still) Matter (?) Markets to continue to be driven by - or, appear to be - earnings related headlines. This is even more so in the absence of any major economic (barring the Retail Sales Advance release this morning, and Powell's speech in Paris later in the day) releases that upset the complacency on the street. As we wrote on...
Results of our models' trading plans, published Friday 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 and carried to the next session (entry at 3014, with a 9-point trailing stop currently anchored at 3005.50). Aggressive,...
Earnings Headlines to Drive the Markets In the absence of major, unexpected geopolitical headlines (China's slowing growth has been expected, old news), markets seem to be set to focus on the earnings headlines for today. And, those headlines look to be on the side of the bulls as of this morning. As we wrote on Friday's outlook, let not your sense of "can this...
Market tried to sell off during overnight session, but could not get below .618 of Friday's RTH, which should be bullish. However, over night low has not been tested yet. Bulls are still in control. Level to watch 3012 --- 3014.