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#ES futures dragged down the indices at the open today. But by the end of the day #SPY recovered most of the morning losses. #SPY trades above 20 DMA and remains constructive. Bulls still doing enough to keep the bounce intact. #QQQ's finished green with a relative out-performance against #SPY. #AMZN, #TSLA, #AMD, and #NFLX were stand out growth stocks today,...

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Thursday's trading was interesting. US learned that 16MM jobs were lost in past 3 weeks. FED came in with another 1.5T bazooka. The futures opened gap up but the day session in $SPY closed with an uncertain doji candle and a NR7 pattern. #SPY found resistance at downward sloping 50 DMA. There are minor divergences in the Stochastics indicator and sine cycle is...

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Bears are getting desperate now. Today's new bazooka's from FED and treasurey have the#ES futures gapping again. Nothing new to add. Indicators bullish and supportive gov policies are overcoming horrendous job losses and economic malaise.

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#SPY had a volatile session yesterday and gave up about 4% of morning gain. But still managed to close above 20 EMA. In my book that is an intermediate term bullish signal. Indicators I follow are also bullish as shown on the chart. #ES futures are pointing to an open about 1.15% higher indicating a higher open for #SPY as of now. Remaining bullish till #SPY...

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After a 3 day balance the indices rocketed higher yesterday. #SPY closed above 20 DMA for the first time after the bear market began. Another close above 20 DMA today will confirm that the move up is getting real. #ES futures point to another gap up about 3% on the averages. Also the indicators I follow have turned up confirming this up move. If this torrid up...

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#SPY is trading in the 244-264 range. Indicators I follow are leaning bearish. Only two consecutive closes above 20 DMA will turn the intermediate trend up for me. In the meantime we have a range bound market.

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The horrendous 10MM jobs lost in past two weeks and today's unemployment at -700k appear to have no effect on the directional movement of #SPY. Though volatility is high. Looks like the FED put as a backstop is working now. The indicators are leaning bearish but confirmation of next bearish move will be when #$PY closes below 244.7

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World indices are on sale today pressuring #SPY to about -3.5% open. #ES futures are not limit down yet, which is somewhat redeeming. #SPY support is at 183.5.

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Friday's bearish doji gave way to day of solid buying though at a much more muted volume. The trend day brings #QQQ to an interesting point from where it can catapult another 11% to 214-15 area if the potential of the 13 bars box can be realized. VIX has started to roll down but is still quite elevated. Indices will rise as dealers/MM's close short put positions...

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Markets closed Friday with bearish inside doji across indices although on lighter volume. #ES futures are again pointing to a gap down open but not limit down. A small change considering recent past action. If bulls are to take control then trading first above daily pivot of 255.09 and then above Friday's high will go a long way in instilling some confidence...

insyyte Updated 

Today #ES futures are locked limit up. Maybe some traction after world banks fired bazookas to stabilize the markets. If congress passes a deal then millions of laid off Americans will have some hope as helicopter money gets dropped in their accounts. The market is primed for a rebound with abundant divergences. The first target will be 245, then 270.

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Futures locked up limit. Targets are 8000 and 8600.

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Larry McMillan of trading-advisory firm McMillan Analysis on Friday said, “Markets are in total disarray. I traded through the crash of ’87 and through the financial crisis of 2008, and this is worse.” So far SPY has bounced from channel support. But today's limit down #ES futures, despite FED's cutting interest rates to zero and announcing a $700B QE program,...

insyyte Updated 

Expecting short covering to continue Mon and Tue as FED expected to lower rates 75-100 bps. Divergences showing up on the charts. First hint of short covering will be CCI moving above the indicated resistance line on the chart. Targets are indicated in anchored texts.

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Futures showing strength, (currently up 16 handles from yesterday's close) as positive trade rumors swings ES1! up again after big hammer yesterday. The wave trend remains below zero favoring short trades. ES1! has support at 3094-96 and first resistance at 3118. Below 3092 and selling pressure is likely to return.

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Futures seeing weakness after Trump's tweet suggesting trade deal after elections. Yesterday the wave trend crashed below 0 favoring short trades. ES1! has resistance first resistance at 3112-3115 and then at 3125-3127. After yesterday's wide bar range first support at 3097-3100, and if selling is strong, second support at 3080.

insyyte Updated 

ES1! consolidating again at the upper end of the range. Though the wave trend is above zero it is declining. So quick fire trades are warranted. ES1! above 3148 gets us 3151. ES1! below 3144 gets us 3141.

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ES1! stair stepping up. Tepid opening at hand today, even though markets got good news about trade talks from Chinese phone call last evening. The wave trend is above zero favoring long trades as ES1! stays above 3125-3127 support.