You read it here in the forecast for today, published last night: “Medium term models are biased against short selling, and are cautious about opening fresh long buying. For Tuesday, the models indicate staying flat below 2753, and buying within 2753-55 range with tight stops.”And, the index reached as high as 2752.61 in today’s session so far – just 0.39 (more…)
The Market Bull Sizing Up the Resistance Ahead As mentioned in our IntradayAlert published today, 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 registered the session high at 2749.16, (more…)
S&P 500 THE GIST (“THE WHAT”) Extending Friday’s gains, the S&P 500 index opened 12.25 points above last week’s close, finally breaking out of the 2700 – 2740 range it was confined to since May 9. Shrugging off the trade war concerns for now, investors remained optimistic after a strong jobs report released Friday suggested (more…)
Our models indicate that the 2740-50 band is now the key level that holds clues as to the direction of the market for this week. If the market closes above 2750 today, then it opens up a run towards 2800. If the market closes below 2740 today, then it could mark today as the trend (more…)
The Market Mountain Goat…How Long Can It Keep Jumping From Peak to Peak? Barely two sessions ago the news headlines were all about markets “tanking” and now the S&P 500 Index futures #ES is registering a new intermediate peak above the May 14th high of the index at 2742.10 (the futures registered an overnight high (more…)
THE SUMMARY – THE WHAT The S&P 500 index tumbled at the opening of the holiday-shortened week (markets were closed on Monday for Memorial Day)the in the wake of several news headlines reeling the global markets, including Italy’s political drama that threatened a European debt crisis. The index fell sharply below its 100 DMA during (more…)
THE DETAILS -The How, Where and Why As investors digested the developments in Italy’s political situation, markets stabilized during Wednesday. The gains however came under assault on Thursday as trade war concerns were back on investors’ plate after the Trump administration announced its decision to impose strict import duties on Canada, Mexico and the European (more…)
S&P 500 THE GIST (The “What”): Strong jobs report lifted market sentiments during the early morning session, which was further boosted after a major political crisis in Italy – Eurozone’s third largest economy – was averted. S&P 500 index opened with significant gains and maintained the optimism throughout the session. Led by Technology stocks and staying (more…)
The trailing stop mentioned in earlier Intraday Alert is now hit on the long, and profits are booked at 2030.50. That’s a ten point profit on a long trade set up based on yesterday’s bearish market action. Not bad for our models’ performance! If you have been following the forecasts and trading based off of (more…)
A grateful reader reached out pointing out to these words from our forecast published last night: “Bulls have to push the index into the 2730-35 region and clear above 2740 to keep the bullish move going, failing which would weaken the bulls again.”And, pointing to the fact that the market has actually penetrated exactly that (more…)
