Market could not push higher during overnight session which is very concerning for Bulls. Currently, it is trading below yesterday's close. It would not be surprising to see a repeat of yesterday.
Yesterday market rallied but could not close the gap. Now Bulls have two gaps to close. Chances are very good that market will close at least one gap today, maybe both. It should be a day for Bulls.
Friday market closed high, since then it has dropped below weekly low of last week. Market is going to open gap down, Market will probably rally and test Friday's open. There is no report to impact trading except trade talk with China.
Yesterday market sold off then rallied more than 50% of it's sell off range. That is bullish for today. It would not be surprising for market to test weekly high after setting a weekly low yesterday. That is what you call volatility. Couple of reports that could impact the market: US:PMI Services Index 9:45 AM ET US:ISM Non-Mfg Index 10:00 AM ET
Currently market is trading around where it closed yesterday. Yesterday market sold off very aggressively in the afternoon. Normally market will trade in a range after such sell off. We might get a rally later on during the day. It is always good idea to keep an eye on 50% range from High and low of yesterdays sell off range. There are couple of reports that...
Market rallied during overnight session. If market opens gap up, then it will normally try to close the gap before resuming its previous direction. There are few reports due today that could effect the market. Most significant are the FOMC meeting announcement and Fed Chair Press Conference. US:PMI Manufacturing Index 9:45 AM ET US:ISM Mfg Index 10:00 AM...
It is not good for bulls that the market sold off last hour of RTH. However, today we might get a repeat of yesterday. There are few important reports today that needs mentioning. US:Chicago PMI 9:45 AM ET USA US:Consumer Confidence 10:00 AM ET USA US:Pending Home Sales Index 10:00 AM ET
Expect market to rally first then go sideways. Later in the afternoon could be a major rally.
Based on ETH activity market will probably rally then be range bound. Very likely market will test yesterday's high since ETH session did not do so.
Yesterday market sold off after testing previous day's high. What is significant that the market sold off 3/4th of days range in 15 minutes at the end of RTH. I anticipate that we shall see a test of overnight high before any sell off.
Yesterday's rally stalled within few points of ATH. If market cannot take out yesterday's high then it will sell off.
Yesterdays rally which hardly had any volume, is very suspicious whether it is a bear trap or not. We might get a sideways day today. There is a report which could effect trading is US:New Home Sales 10:00 AM ET.
It seems that market will open gap down and try to close the gap. Otherwise, market will sell off. Important report will be out which could be a market mover. US:Existing Home Sales 10:00 AM ET
After such an aggressive selling of yesterday, expect the market to be a range bound day.
Currently market is testing high of yesterday after selling off during RTH. If bulls can not take out yesterday's high, then we might have a repeat of yesterday.
Since market is going to open gap up, it might sell off and try to close the gap and test 200 DMA. We will have to wait and see.
Market has been trading within a range during overnight session. RTH might be similar to overnight session since there is no significant report due that could impact the market.
Market is going to open gap up. Pattern suggests that we could expect a sell off then rally to close at high of the week. There is a report due today that could affect the market which is US:Consumer Sentiment 10:00 am EST.