Key Levels Under Test This Week As we predicted in our forecast for Friday, the sustainability of last week’s moves up needed to be confirme with the market action on Friday 11/02 – which it did NOT! Till we see a credible confirmation of a recovery, our models indicate the continuation of the bearish bias (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Monday, 11/05” will be posted around 8:30am EDT, Monday. THE GIST (“THE WHAT”) Buoyed by a better-than-expected jobs report, the S&P 500 index opened higher. Hopes of an imminent trade agreement with China further boosted optimism in the early session, but the index soon (more…)
Are this Week’s Bullish Moves Sustainable? As we predicted in our forecast for Wednesday, the markets witnessed a spike up (“artificial prop” of the month-end window dressing?) on the last day of October, and a follow thru on Thursday (possibly driven by the first-of-month flow of funds?). The sustainability of this week’s moves up need (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Friday, 11/02” will be posted around 8:30am EDT, Friday. THE GIST (“THE WHAT”) Opening the month on a positive note, the S&P 500 index extended its rebound for the third straight session. An early morning tweet from President Trump hinted at a progress in (more…)
A Bulltrap or a Recovery in the Making? Today’s Market Action and Friday’s Close to Confirm! As we predicted in our forecast for Wednesday, the markets witnessed a spike up (“artificial prop” of the month-end window dressing?) on the last day of October. Today’s action likely would be driven by the first-of-month flow of funds, (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 11/01” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) Closing the worst month since September 2011, now famously called as a ‘Red October’, on a positive note, the S&P 500 index extended its rebound for the second day in a (more…)
A Bulltrap – or a Recovery – in the Making? Next Two Days’ Market Action and Friday’s Close to Confirm! With today’s action likely driven by the end-of-month window dressing by money managers, and tomorrow’s action likely driven by the first-of-month flow of funds, the market could be artificially propped up these two days. The (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Wednesday, 10/31” will be posted around 8:30am EDT, Wednesday. THE GIST (“THE WHAT”) Strong earnings and a relief on trade war front helped the S&P 500 to recoup some of the previous session’s steep losses. Easing trade tensions, President Trump hinted his willingness to (more…)
Wild Whipsaw Moves to Continue…Dont’ Engage in Kneejerk Trading! Last week’s wild moves in the market point to the onset of potential regime change in the markets from the long bullish regime to a bearish one! Our models advise caution against getting into the markets on false spikes up. One needs to confirm the moves against (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Tuesday, 10/30” will be posted around 8:30am EDT, Tuesday. THE GIST (“THE WHAT”) Another wild session, following an extreme volatile last week took the S&P 500 index closer to a correction territory for the second time in 2018. Rebounding solidly at the open on (more…)
