Markets Approaching an Inflection Point? S&P 500 index registered eleventh consecutive green candle on the daily charts (on an open-close basis) on Friday, 01/18! The index is now resting near the big resistance level of 2675, and if it closes above 2675 on a daily basis then we are looking at 2710-2715 area as the (more…)
Is That a Real Bull in Sight? Not so Fast – Price Action till Monday Close Needed to Gain Clarity and Conviction! S&P 500 index registered tenth consecutive green candle on the daily charts (on an open-close basis)! The index tested the upper end of the 2635-2645 resistance band we mentioned in our forecast yesterday (more…)
Tenth Consecutive Positive Close / Green Candle (On a Daily Open to Close Basis)? If the S&P 500 index closes higher today, it would mark the the tenth consecutive positive close on a daily open to close basis. The index is looking at some strong resistance levels in the 2635-2645 band which, if broken, could (more…)
Earnings Earnings Everywhere With earnings season picking up, the markets are likely to focus on the basics – the economic fundamentals of the companies underlying the stocks, barring any major surprises on the geopolitical front. While the move up is encouraging to the bulls, below average volume is a concern still. Since Wed, 01/09, our (more…)
Brexit Chaos and Draghi Speech Potentially to Eclipse Earnings Headlines today Geopolitical events (not involving China, for a change) today likely to cause chaos in the currency markets which would spill over into the equity markets today – UK parliament to vote on Theresa Mayer’s Brexit Plan. Added to that, ECB chair Draghi is slated (more…)
Earnings Kickoff! Key earnings season kicks off today, most likely moving the focus back to basics. The news from China about its economy slowing down is drawing increasing attention from investors. And, headlines about China’s record trade surplus with the US keeps the trade war jitters from fading anytime soon. Since Wed, 01/09, our models (more…)
Back to Basics Day? It’s About Time! Consumer Price Index and Hourly Wages releases this morning, and increasing talk about earnings (shortfall) likely to make the markets focus on the “financial” aspects of the financial markets today. The weekly options expiration would add its own push-and-pull around key levels today, resulting in sudden spikes in (more…)
It is Still About China and Fed Today With the US-China trade talks ending yesterday and the markets awaiting details of any “outcomes”, and with Fed chair Powell slated to participate in a Q&A session this afternoon, the main movers of the markets today are still China and Powell. Beyond these factors, markets might soon (more…)
The Fed Meeting Minutes and China With Fed Meeting minutes scheduled to be released at 2pm EST, the markets have two main levers today that may be pulled either way, depending on the dominant side (bullish/bearish). Beyond the spin, market strategists would be closely watching the Fed minutes for re-inforcing/re-interpreting the tone of Powell’s speech (more…)
China, the spin, Continues… Our medium-term models continued the winning streak on Monday by booking 18.00 S&P 500 index points in profits, and our aggressive intraday models booked 23.00 points in profits, simply by mechanically trading the pre-defined entry and exit points as published in our trading plans before the markets open. This marks four (more…)
