Interim High In? The index made a new record intraday high at 4300.7 and it looks like it could be the high for the session, and if not taken out tomorrow then it could be the high for some time to come. Holiday related thin trading in the coming days could test it in a (more…)

Melting Up In our trading plan for Tuesday, 06/22, we wrote: “After a big move on both Friday and Monday, the index is essentially where it was mid last week! 4250-4215 remains the key range to break out of”. The index is testing the top of this range today and the price action around the (more…)

Choppy, Range-bound Trading The flip-flop on inflation concerns from the Fed induced some relief rally yesterday, but the price action in S&P 500 index is anything but directional as of this morning. After a big move on both Friday and Monday, the index is essentially where it was mid last week! 4250-4215 remains the key (more…)

Triple Witching Day Volatility! The inflation and Fed-inflation-fighting-capability concern coupled with the Triple Witching day today should make a perfect recipe for volatility! Today is not a day to engage in positional trading. Nor is it a good day to engage in knee-jerk trading as there can be a lot of whipsaw action. For positional (more…)

Markets Attempting to Look Past Inflation After the rather concerning admission from the Fed that they underestimated how hot the inflation could be running – albeit Powell’s attempt to paint it as still of not much concern – markets are mixed with Dow showing weakness while Nasdaq lifting up, with S&P 500 seemingly still trying (more…)