The Market Mountain Goat…How Long Can It Keep Jumping From Peak to Peak? Barely two sessions ago the news headlines were all about markets “tanking” and now the S&P 500 Index futures #ES is registering a new intermediate peak above the May 14th high of the index at 2742.10 (the futures registered an overnight high (more…)
It’s a dogfight between the bull and the bear! No bear territory yet! If all the headline news and the market buzz have you feel that the markets are tanking and you wish you sold all your holdings, you are probably not alone! Nor are you particularly to be blamed for feeling overwhelmingly negative, since (more…)
This tug-of-war, we witnessed just a couple of weeks ago! The market action today has been almost the flipped version of it from yesterday (especially so if you consider the e-mini futures market as well). The apparently stalled S&P 500 Index that was confied to a directionless channel of about 40 points wide for more (more…)
Weakened bull and a happy bear! Neither is forceful for now… The apparently stalled S&P 500 Index that was confied to a directionless channel of about 40 points wide for more than two weeks has finally broken below that channel, confirming a weak bull. Model Biases/Outlook: Having broken below the strong support band of 2710-2700 and probing (more…)
The bull standing its ground BUT struggling to push forward Last week the S&P 500 Index #SP500 #SPX #SPY #ES closed lower for the week. This marked second week of losses for the index. Nevertheless, the index continues to stay above the key level of 100-DMA since it closed above the indicator on 5/10/2018. Importantly, (more…)
The bull standing its ground… As stated in this morning’s real time commentary – posted around 11am EDT – the 2710 level was tested again (with the day’s low registered at 2707.38) and it again proved as a strong support and the index never broke below it throughout the session since posting that message (if this reads like (more…)
