Key Support Held In our plans published yesterday, Thursday 01/19, we wrote: “Our models are adapting a cautiously bearish bias while the index is below 3950”. As of the writing of this trading plan, the index tested the support around the 3900 level and has rebounded from there and is currently testing the 3950 level. (more…)
Upside Momentum Broken Down – Day 2 In our plans published Monday, 01/09, we stated: “The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg”. The lower bounds of this range has been decisively broken down yesterday. Our models are adapting (more…)
Earnings, Inflation, and China Re-start In our trading plans published Monday, 01/09, we stated: “The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg”. In our trading plans published yesterday, Tuesday 01/17, we wrote: “This range is still in effect for (more…)
Earnings Season Kickoff – Day 2 In our trading plans published on Friday, 01/13, we wrote: “With yesterday’s post-CPI spike in the markets and this morning’s early declines after the key bank earnings, the markets are sitting at a key inflection point. While today’s action looks like a consolidation and the probing of a major (more…)
Earnings Season Kickoff With yesterday’s post-CPI spike in the markets and this morning’s early declines after the key bank earnings, the markets are sitting at a key inflection point. While today’s action looks like a consolidation and the probing of a major resistance in the 200-DMA, the price action early next week could give us (more…)
Inflation Numbers Good, but Not Great The CPI numbers and Initial Jobless Claims this morning have not really provided any directional thrust other than a huge whipsaw. As of nearly one hour into the release, there is really no directional catalyst on the radar for today. Our models indicate choppy trading while the index is (more…)
Choppy, Range-trading Today In our trading plans published yesterday, Monday, 01/09, we stated: “The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg”. The index failed nearing the lower end of the resistance band and got repelled from there strongly. With (more…)
Resistance Band Held Yesterday In our trading plans published yesterday, Monday, 01/09, we stated: “The index is now approaching the resistance band in the range of 3960-4002, and the price action in this range determines the next leg”. The index failed nearing the lower end of the resistance band and got repelled from there strongly. (more…)
Post-NFP Momentum Building Up…for Now In our trading plans published on Thursday, 12/22, we stated: “Our models reiterate range-bound trading while the index is within the broader 3810-3860 range on a daily close basis”. And, our plans published on Friday, 01/06, we stated: “Our models indicate continued choppy trading while the index is within this (more…)
NFP Data Mixed – Be Wary of Jumping the Gun In our trading plans published on Thursday, 12/22, we stated: “Our models reiterate range-bound trading while the index is within the broader 3810-3860 range on a daily close basis”. In spite of a lot of spiky price action since then, and despite the initial pop (more…)
