Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Monday, 10/29” will be posted around 8:30am EDT, Monday. THE GIST (“THE WHAT”) Panic selling resumed after a brief rebound in Thursday’s session, dragging the S&P 500 index near correction territory and leading nearly half of its components in a bear market. Disappointing revenue (more…)
Deep Correction – Bears Currently Celebrating… Despite the big spike up in the markets yesterday, Thursday 10/25, the overnight futures are down almost equally – negating all the move up from the last session! Such is the volatility and the whipsaw trading when markets go through regime change. All the indications point to the onset (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Friday, 10/26” will be posted around 8:30am EDT, Friday. THE GIST (“THE WHAT”) Taking a breather from a 6-day riot, the S&P 500 index rebounded solidly to erase some of previous session’s deep losses following impressive quarterly results by Microsoft, Twitter, Ford and American (more…)
Deep Correction – to Continue or Reverse? The S&P 500 Index breached the key support level of the 200-DMA (currently around 2768) and has broken below on Monday and closed below it for a second day on Tuesday, 10/23. With the sharp drop to below 2700 and then a fast recovery on Tuesday, followed by Wednesday’s (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 10/25” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) In a dramatic sell-off, the S&P 500 index plunged 3.09% as panicked investors fled to safe-haven assets amid growing concerns of slowing global economic growth and rising production costs that have (more…)
Continued Whipsaw Action Forecast – Day 3! The busiest earnings week of the season has started off yesterday, Monday 10/22, with no positive momentum. The growing geopolitical tension around the Saudi journalist Khashoggi’s killing and the trickling impact on the key Saudi investor conference seems to be denting the investor sentiment. The S&P 500 (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Wednesday, 10/24” will be posted around 8:30am EDT, Wednesday. THE GIST (“THE WHAT”) Yet another day of disappointing earnings and plunging oil prices drove the S&P 500 index convincingly below its critically important support level of 200 DMA (now at 2768.27) and near July (more…)
Continued Whipsaw Action Forecast In the Markets! The busiest earnings week of the season has started off yesterday, Monday 10/22, with no positive momentum. The growing geopolitical tension around the Saudi journalist Khashoggi’s killing and the trickling impact on the key Saudi investor conference seems to be denting the investor sentiment. The S&P 500 (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Tuesday, 10/23” will be posted around 8:30am EDT, Tuesday. THE GIST (“THE WHAT”) Mirroring a sharp recovery in China’s stock market, the S&P 500 index opened the busiest week of the third-quarter earnings season on a positive note. In an attempt to reassure investors, (more…)
How Much did the S&P 500 Index Move Last Week? +0.65 points!! Despite the headline grabbing market moves throughout last week, the S&P 500 Index moved just +0.65 points all of last week – from the close at 2767.13 on Friday, 10/12 to the close at 2767.78 on Friday, 10/19! This is in spite of (more…)
