Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 11/08” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) The closely watched midterm elections concluded with the Democrats taking control of the U.S. House of Representations and Republicans retaining control of the Senate. While the result was highly expected, a (more…)
Imminent Washington Dysfunction – Freedom or Chaos for Businesses? With the legislature now split between the Republicans and the Democrats, the certain thing is that there is going to be legislative gridlock and dysfunction in Washington, DC. Lack of forceful and clear legislation has always been a good thing for businesses – generally speaking – (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Wednesday, 11/07” will be posted around 8:30am EDT, Wednesday. THE GIST (“THE WHAT”) Trade-sensitive sectors led today’s relief rally, further supported by a tech rebound amid the long-awaited U.S. congressional mid-term elections. Gains, however, remained capped as investors keenly awaited the results of the (more…)
Today, It’s All About the Midterms, Trader! Keeping in view the critical role today’s elections and the outcomes play on the markets, our models do NOT indicate trading in any direction on this day. The key levels continue to be what the models indicated for Monday, 11/05. https://tradersai.blogspot.com/2018/11/s-500-outlook-for-mon-1105.html We will bring you the next Forecast (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Tuesday, 11/06” will be posted around 8:30am EDT, Tuesday. THE GIST (“THE WHAT”) The S&P 500 index opened the week on a positive note as Energy, Financials and defensive sectors outweighed weakness within the Technology stocks to close modestly higher at 2738.31, up 15.25 (more…)
Key Levels Under Test This Week As we predicted in our forecast for Friday, the sustainability of last week’s moves up needed to be confirme with the market action on Friday 11/02 – which it did NOT! Till we see a credible confirmation of a recovery, our models indicate the continuation of the bearish bias (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Monday, 11/05” will be posted around 8:30am EDT, Monday. THE GIST (“THE WHAT”) Buoyed by a better-than-expected jobs report, the S&P 500 index opened higher. Hopes of an imminent trade agreement with China further boosted optimism in the early session, but the index soon (more…)
Are this Week’s Bullish Moves Sustainable? As we predicted in our forecast for Wednesday, the markets witnessed a spike up (“artificial prop” of the month-end window dressing?) on the last day of October, and a follow thru on Thursday (possibly driven by the first-of-month flow of funds?). The sustainability of this week’s moves up need (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Friday, 11/02” will be posted around 8:30am EDT, Friday. THE GIST (“THE WHAT”) Opening the month on a positive note, the S&P 500 index extended its rebound for the third straight session. An early morning tweet from President Trump hinted at a progress in (more…)
A Bulltrap or a Recovery in the Making? Today’s Market Action and Friday’s Close to Confirm! As we predicted in our forecast for Wednesday, the markets witnessed a spike up (“artificial prop” of the month-end window dressing?) on the last day of October. Today’s action likely would be driven by the first-of-month flow of funds, (more…)
