Expect a Dog Fight Around the Key Levels being Tested Our models are not sporting any directional bias as they are watching the key 2830-2850 level for a breakout or rejection today. A breakout above would have the bulls gunning for 2900 and then 2940, IF they can manage to close above the key levels (more…)

Directionality Still Brewing Our models have negated the bullish bias yesterday, but have not confirmed the downside yet, even though we got a daily close below 2755 level yesterday. Any directional bias in the markets still appears premature and our models are in an indeterminate state. Only tight, range trading is indicated while the directional (more…)

Inflection Point Confirmed to the Downside? With yesterday’s price action in the equity indexes (albeit apparently being driven by the dislocations in the oil markets) confirming the breakdown below the 2796 level that we have been pointing to in our morning trading plans for the last couple of weeks, our models have now negated the (more…)

Complacency and Imminent Inflection Point While the opening losses on the index is predominantly due to the oil price shock (front month futures down 36%!), the price action is at a critical inflection point. If broken above, we could be looking at 2930-40 level but if broke down from here we could be looking for (more…)

If Only It Was So Easy! With the futures markets already up significantly on the potential early good news about Gilead Science’s Covid-19 cure, the regular session might not have much room to squeeze any more juice out of it. While the index shows +2.xx% up, almost all of it occurs in the pre-market already, (more…)

The Ubiquitous Fibonacci Still In Play With more financial institutions’ earnings pointing to a potential wave of defaults and loan losses, and with the initial jobless claims surging by the week, there is an intensifying battle between the “the worse is over” and “the worst is yet to come” camps. It would be fascinating to (more…)