Overnight session market traded within a range of 12 points. Today being so called Quad Witching day for options, we will probably see a sell off around 2656 -58 range of ES. However, need to keep in mind that Bulls are in full control now.
After Feds positive news about rate cut yesterday, market has rallied during overnight session and gone completely Wild. I would expect a sell off at test of overnight session High. There is a good resistance at 2965 on ES for today.
Market has been trading in a range during overnight session. We will probably see same type of action all day until FOMC meeting announcement at 2 pm ET. It would make sense to see a test of yesterday's High before deciding on direction. Very likely aggressive selling to follow later on this afternoon if the market does not like what FOMC report has to say. It is...
Yesterday RTH was a range day and after that overnight session market rallied. It seems to me that we should see a sell off today during RTH. Bears have been very active last few trading days during RTH. Let's see if Bears can push it below 2900 today during RTH.
Market rallied during overnight session and is selling off as I write. It seems, we might get another day similar to last Friday's price action. Traders might try to close the Gap open between Wednesday and Thursday. However, if the market rallies, Bears must defend 2900.
S&P has a Top forming H&S pattern and at the very neck line of the right shoulder there are two significant Gap down days. Even though the Gaps were closed within few days, price is still below the right side Channel upper line. As long as price stays below 2900 and the Upper line of the Channel, it is Bearish for S&P 500. I noticed that after a Channel is...
Overnight session market has sold off and trying to recover at the time of writing. Bears need to defend 2900, otherwise Bulls would become aggressive. That being said , I believe Bears are going to be aggressive and start a sell off. Need to be aware of reports that could impact the market: US:Business Inventories 10:00 AM ET US:Consumer Sentiment 10:00 AM ET
During overnight session market rallied, therefore, we can expect a Gap up open. Currently, market is trading above yesterdays RTH High which is a sign that it will rally. If market bounces off the high of the box for today, than look to your left of the chart for previous boxes for levels where market could find possible support and resistance.
During Overnight session market traded within a range close to lower part of yesterday's RTH. Expect Bulls to try to push it higher to today's or yesterday's box on the chart. If price gets rejected in/below of yesterday's box than expect a sell off to test overnight low. Reports that could effect market: US:EIA Petroleum Status Report 10:30 AM ET
S&P 500 is showing a signal that is very similar to my other idea published about the US30. It has broken through a descending resistance line and is looking good for a long position.
Yesterday during RTH market sold off then during overnight session rallied. I suppose we can look for a test of Overnight session High than a sell off again.
Market rallied during overnight session. I would expect a test of overnight high than try to close gap down. It will probably be a range bound day.
S&P futures are still respecting the upward channel, today they gapped up past resistance levels.
Market rallied overnight and sold off as soon as the Payroll numbers were released. It seems that a test of overnight high is due before it resumes sell off. Reports that are due : US:Wholesale Trade 10:00 AM ET USA US:Consumer Credit 3:00 PM ET
Market rallied overnight and still looks bullish. Need to look for overnight High test. Pattern suggest that market might rally than sell off. There is one report that could impact the market: US:EIA Natural Gas Report 10:30 AM ET
Market rallied overnight and started to sell off after ADP employment numbers were released. Pattern suggests that it will be a selloff and maybe a rally later in the afternoon. Market should test overnight High and/or yesterday's HOD. The Great Market Giveth and The Great Market Take It Away. Couple of reports that could impact the market: US:PMI Services...
Market will open gap up and try to close the gap first before rallying. Should be a pretty good day for Bulls. Couple of reports that could impact the market: US:Jerome Powell Speaks 9:55 AM ET US:Factory Orders 10:00 AM ET
Market sold off during overnight session and rallied as well. If market is going to rally, it needs to test overnight low first.