Yesterday's rally after FOMC statement needs to see follow through; otherwise traders could take profit today. Most one day big rallies occur during Bear markets. Level to watch: 4175 --- 4173 Reports to watch: US:Factory Orders 10:00 AM ET US: EIA Natural Gas Report 10:30 AM ET
Lately, market seems to sell off during ETH session than tries to rally during RTH session. Today might be the same. Any test of yesterday's Low could provide direction for the day. Level to watch 3991 ---3989 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET
Two days in a row S&P 500 tried but could not Close above 4000 level. Did market sentiment change, should find out within next few days. Level to watch 3916 --- 3914 Reports to watch: US:EIA Natural Gas Report 10:30 AM ET US:EIA Petroleum Status Report 11:00 AM ET
It seems of late market sells off than rallies without any conviction. Is today going to be different or same. Any test of ETH session High could provide direction. Level to watch 3953 --- 3951 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET
Even-though, ETH session market is trying to rally, but price action suggests otherwise. Any test of ETH session High could provide direction for the day. Level to watch 3867 ---3865 Reports to watch: US:ISM Manufacturing Index 10:00 AM ET US:JOLTS 10:00 AM ET US: FOMC Minutes 2:00 PM ET
It seems that last couple of days rally could have been short squeeze. ETH session market has been selling off and testing yesterday's Low. Level to watch 3885 --- 3883 Report to watch: US: EIA Natural Gas Report 10:30 AM ET
Yesterday was the second time S&P 500 tested 4100 level this month which could be a major resistance level at this time. In addition, yesterday's sell off could be an indication that trades have less confidence in this rally. Level to watch 4052 --- 4050 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET US:Fed Chair...
Market has been trading in a range second half of November which could be that traders are very cautious about this rally. Today, any test of yesterday's RTH session Fibonacci 50% range could provide direction for the day. Level to watch 3968 --- 3966 Reports to watch: US:Chicago PMI 9:45 AM ET US:JOLTS 10:00 AM ET US:Pending Home Sales Index 10:00 AM ET ...
Yesterday's price action was mixed which could be due to indecision by traders. Therefore, we could have similar session today. Level to watch Reports to watch : 4000 --- 3998 US:Business Inventories 10:00 AM ET US:Housing Market Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET
Yesterday's price action confirms the fact that volatility is high at this time and might continue for a while. Any test of yesterday's Close could provide direction for the day. Level to watch 3800 --- 3802 Report to watch: US: EIA Petroleum Status Report 10:30 AM ET
In anticipation of FOMC meeting today, market has been trading sideways since yesterday morning's sell off. Any test of yesterday's Low could provide direction for the day. Level to watch 3845 --- 3843 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET US:Fed Chair Press Conference 2:30 PM ET
S&P has rallied couple of hundred points in last few days ; therefore, yesterday's sell off could be indicative of a pullback. Any test of yesterday's Low could provide direction for the day. Level to watch 3853 --- 3851 Report to watch: US: EIA Natural Gas Report 10:30 AM ET
Most of this week, S&P has closed lower than it's previous day's Close. Perhaps, traders are waiting to see a test of last week's Low. Level to watch 3654 --- 3652
Market has rallied two days in a row which we have not seen in a while. Any test of yesterday's Low could provide direction for the day. Level to watch 3748 --- 3750 Reports to watch: US:ISM Services Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET
Overnight session, market has been trading in a range, perhaps sellers are aggressive. Any test of yesterday's Fibonacci 50% range could provide direction for the day. Level to watch 3684 ---- 3682 Reports to watch : US:Pending Home Sales Index 10:00 AM ET US:Jerome Powell Speaks 10:15 AM ET US:EIA Petroleum Status Report 10:30 AM ET
Yesterday's late afternoon rally seems to be getting weak during ETH session . Any test of yesterday's High could provide direction for the day. Level to watch 3892 --- 3890 Reports to watch: US:Existing Home Sales 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET US:FOMC Announcement 2:00 PM ET US:Fed Chair Press Conference 2:30 PM ET
After a major sell off as yesterday, traders are expecting some sort of calmness today. However, market needs to hold last weeks Low. Level to watch 3969 --- 3967 Report to watch: US:EIA Petroleum Status Report 10:30 AM ET
Market is as Red as it can be lately. Any test of yesterday's Low could provide direction for the day. Level to watch 3916 ---- 3918 Report to watch: US:Beige Book 2:00 PM ET