S&P 500 THE GIST (The “What”): The index opened Tuesday’s session sharply lower as Italy’s political chaos threatened a global slow down. The broad based sell-off slowed down during the afternoon session and attempted to reverse, reaching the day’s high at 2710.67 (close to the 100 DMA now at 2710.63) following the release of Consumer (more…)
Weakened bull and a happy bear! Neither is forceful for now… The apparently stalled S&P 500 Index that was confied to a directionless channel of about 40 points wide for more than two weeks has finally broken below that channel, confirming a weak bull. Model Biases/Outlook: Having broken below the strong support band of 2710-2700 and probing (more…)
S&P 500 is testing the KEY 2680 level mentioned in our forecasts numerous times over the last few weeks. Our aggressive models closed the booked the short trade profits early and are currently flat, cautious of potential spikes up from the 2680-75 level. IF today closes below 2680, then we enter the bear territory. Today’s (more…)
DAYs LOW COULD BE IN! TAKING THE PROFIT ON THE SHORT on e-mini ES#SP500 #SPX #SPY #ESFrom our forecast published last night: “The aggressive models are currently flat (no positions). Models indicate using 2710-2720 as a pivot to trade from either long or short side: buy/long above 2720 – profit target 2730-35, stop loss 2710-2705; (more…)
