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: No trades planned for the day. Aggressive, Intraday Models: Lead to a gain of 2.50 index points on a total of two trades - one short and...
How Long Can this Ride Last? That's Not the Right Question! As we wrote yesterday morning's outlook, trying to justify what our "gut" "feeling" says what "should or should not be" happening in the markets is NOT what one should do to invest or trade in the markets. Yet, most individual investors/traders are known to do exactly that! If you find yourself pounding...
Last couple of days price action has been very ominous. Both days traders sold off as soon as market rallied after open. If we open at ATH today, i would expect market to sell off again perhaps after a test of the overnight session high. Levels to watch would be 3010---3012
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 a gain of 3.20 index points on one short trade. Aggressive, Intraday Models: Lead to a gain of 1.10 index points on a total of three...
S&P 500 (SPX) shows a bullish sequence from December 26, 2018 low against June 3, 2019 low (2728.81) favoring further upside. Short term Elliott Wave view suggests the rally from June 13, 2019 low (2874.68) is unfolding as a leading diagonal Elliott Wave structure. Leading diagonal is a special type of 5 waves structure with a wedge like pattern and overlapping...
Does Something Not Seem Right with this Bull? When markets are making new highs on old news, and when the Fed is dovish when the financial markets are at historic highs and the unemployment at historic lows - if you "feel" something does not add up, you are not being irrational but you may not be being objective as well! Making trading decisions should not have...
Market tried to rally during overnight session and stalled at high of yesterday's RTH. Traders will probably test overnight high than decide on direction. Level to watch 3004 ---3006 Bears might prevail today. Couple of reports that might impact the market: US:Jerome Powell Speaks 10:00 AM ET US:EIA Natural Gas Report 10:30 AM ET
After yesterday's rally during RTH market sold off during overnight session but stopped at 61% of RTH range. As long as market stays above 2971 we could expect a positive day. However, volatility could be high due to Mr. Powell speaking today and FOMC minutes release. Level to watch would be 2982---2984. Few reports for today: US:Jerome Powell Speaks 10:00 AM...
Long trade on S&P500. Bullish gartley pattern with D point lying on the support line of a rising channel. T1 - 2975 T2 - 2984 Stop - 2946
Since Fridays rally, market has been selling off during overnight session. So far market has sold off over 61% of Fridays RTH session, which is probably bearish. Need to look for test of overnight high before market resumes its direction. Level to watch would be 2987 ---2985.
After yesterday's sell off market has been trading within a range during overnight session. I would expect a test of overnight high before traders decide on a direction. Level to watch would be between 2968 and 2970.
It seems that the market is going to open Gap up at ATH. I suppose we are going to see a test of overnight High and a Sell off very likely. Few report that are due today that could impact the market: US:PMI Manufacturing Index 9:45 AM ET US:ISM Mfg Index 10:00 AM ET US:Construction Spending 10:00 AM ET
After retracing for few days, market seems to be ready for a rally again. Overnight session rally stalled early this morning, which suggests that we might get a test of overnight low than a rally. Couple of reports to be aware: US:Chicago PMI 9:45 AM ET US:Consumer Sentiment 10:00 AM ET
Market rallied during overnight session than had a sharp sell off. Also GDP was released earlier which was within expected range. However, consumer spending dropped sharply, therefore we could expect a sell off. Level to watch would be currently where market is trading 2925---27. Couple of reports to monitor are: US:Pending Home Sales Index 10:00 AM ET US:EIA...
Overnight session market was mostly flat than started to rally this morning. Market might try to rally and test overnight High. It might be a good idea to watch 2923-25 level. Report to watch for today: US:EIA Petroleum Status Report 10:30 AM ET
for those who missed short from the top, here is another very good option! we have a completed head and shoulders pattern. just wait and sell bearish breakout of a neckline 2916. Stop - 2950 Target 1 - 2878 Target 2 - 2824
After yesterdays sell off late in the afternoon, market is currently rallying. Very likely, traders will test yesterdays RTH high. Might want to keep an eye on 2958-2960 area. Couple of reports that could effect the market: US:New Home Sales 10:00 AM ET US:Consumer Confidence 10:00 AM ET
It seems that Bulls are in full control and we could expect a rally again today. 50% level of the overnight High and Low range would a good level (2958) for market to test before deciding on a direction.