Markets coming to the crossroads tomorrow? Friday’s action in S&P 500 stayed above our often-mentioned key level of 2760 and confirmed the dominance of the bulls on the market – or, the lack of dominance of the bears on the market. Considering the North Korea summit tomorrow, it might be prudent to wait to establish (more…)
S&P 500 TODAY THE GIST (“THE WHAT”) The S&P 500 index traded lower during the early session as investors remained cautious ahead of the key G7 Summit underway in Canada. Weakness in Technology stocks further fueled negative sentiment. Losses were trimmed in the afternoon as Consumer Staples stocks gained momentum, leading the index to reach (more…)
As stated in our forecast published last night, the medium-term longs had a stop based on the S&P 500 index hitting 2765 (index low registered today so far is at 2763.59), which got hit sometime back and the models are out of the long position with some decent profits (entered at 2754 as you can (more…)
Looks Like the Bulls – While Still Strong – are Feeling Tired… Thursday’s action in S&P 500 is noteworthy since it approached but failed to pierce two important levels – the day’s high at 2779.90 just fell short of taking out our proprietary key level of 2780, and the day’s low at 2760.16 just fell (more…)
S&P 500 TODAY THE GIST (“THE WHAT”) The S&P 500 index took a breather after rallying for four straight days as a sell-off in FANG stocks overshadowed a rally in the Energy and Telecommunication sectors. For four days in a row, the index has managed to stay above the trading range of 2700-40 which it was (more…)
Our forecast for today’s markets – published last night – stated “our Medium-term Models currently have a stop at 2760″. As of this writing (1:43pm EDT) S&P 500 Index regsitered the day’s low at 2760.16 with the E-mini Futures ES registering exactly 2760. If the index breaches this level (2760), then our short-term intraday models would (more…)
The Bulls Charged Ahead Full Force – About to Get Tired? In our forecast for Wed, 06/06/18, we said: “The index failed to close above that band for two days in a row, closing at 2746.87 on Monday and at 2748.80 on Tuesday. The bulls have to clear this and close above 2750 today for (more…)
S&P 500 TODAY THE GIST (“THE WHAT”) The S&P 500 index rallied to a two-month high, led by Financials stocks as yields inched up following remarks by ECB chief economist, indicating that the central bank is on track to discuss an eventual wind-down of its monthly bond buying program. Early morning gains led by blue-chip (more…)
What Can Stop This Bull Run? As mentioned in our IntradayAlert published on Monday, June 4th, our models indicate that the 2740-50 band is now the critical resistance band for S&P 500 Index, which is going to hold the clue about the next directional bias of the market. The index failed to close above that band for (more…)
S&P 500 THE GIST (“THE WHAT”) The S&P 500 index extended Monday’s gains in the early morning session as Technology sector outperformed and investors shrugged off trade war and geopolitical tensions for now. Weakness in the Financials and Consumer staples sectors however weighed down on the index, dragging it to reach day’s low at 2739.51, (more…)
