Next Support Level – Confirmed In our trading plans published on Monday, 12/19, we stated: “…the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while the index is trading within the broader 3810-3830 range on a daily close basis. If you are short, (more…)
Next Support Level Being Tested The key support level identified in our trading plans published on Wed., 12/07 – and, reiterated on Thu., 12/15 – at 3900-3910 has been decisively broken down, and the index is now testing the next key support level around the 3825-3835 range. Our models are indicating a range-bound trading while (more…)
Bull Trap from Last Week Re-testing Key Support In our last trading plans published on Wed., 12/07, we wrote: “Last two sessions turned the recent spike up into a bull trap. However, our models are indicating that the index is likely to find some support around the 3910-3915 range. Longs might want to wait to (more…)
Fed Pivot Hope Turned Into a Bull Trap; Approaching Support In our trading plans published post-NFP on Fri., 12/02, we wrote: “After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning’s Non Farm Payrolls data could be (more…)
Fed Pivot Hope Turning Into a Bull Trap Nightmare? Day 3 In our trading plans published post-NFP on Fri., 12/02, we wrote: “After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning’s Non Farm Payrolls data could (more…)
Fed Pivot Hope Turning Into a Bull Trap Nightmare? Day 2 In our trading plans published post-NFP on Fri., 12/02, we wrote: “After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning’s Non Farm Payrolls data could (more…)
Fed Pivot Hope Turning Into a Bull Trap Nightmare? After 20 days of meandering around 3950/4000 level, the index rocketed out of the range to a session high of 4093.50 on the FOMC day, 11/30/22. This morning’s Non Farm Payrolls data could be suggesting that it could potentially be an “irrational exuberance”, and the futures’ (more…)
Fed Pivot, Short Squeeze, or Bull Trap? Day 19 Based on the overnight futures markets’ moves by 9:25am on Thursday, 11/10, we published our trading plans that stated: “Our models indicate not chasing this market to the long side, and not staying short either. Hence, we will be sitting out the market today”. Our models (more…)
Fed Pivot, Short Squeeze, or Bull Trap? Day 10 Based on the overnight futures markets’ moves by 9:25am on Thursday, 11/10, we published our last trading plans that stated: “Our models indicate not chasing this market to the long side, and not staying short either. Hence, we will be sitting out the market today”. Our (more…)
Fed Pivot Potential or Short Squeeze? This morning’s softer-than-expected CPI numbers triggered an intense upswing in the futures and a downswing in the yields, especially in the shorter end making the yield curve’s inversion a little less steeper. Could this be indicative of the potential for the much-anticipated “Fed pivot” in the near future or (more…)
