The Drift Higher To Continue? Since Wed, 01/09, our models have been sporting a bullish bias which will be invalidated if the index registers a daily close below 2623. While above 2633, our models continue reiterating the bullish bias. The index is looking at strong resistance level around 2665-75, and if it closes above 2675 on (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Friday, 01/25” will be posted around 8:30am EDT, Friday. THE GIST (“THE WHAT”) Whipsaw price action continued for the second session in a row as investors weighed trade concerns against a mixed bag of corporate earnings. While semiconductors and airline stocks rallied on the (more…)
Results of Published Model Entries and Exits for Thursday 01/24 Per the plans published in the morning today, our medium-term models did not trigger any trades today whereas our aggressive intraday models’ trades lost 8.01 index points on one short trade. Below, you will find the detailed tracking of our models’ trading plans for the (more…)
Earnings, Economic Releases, Geopolitics…A Packed Day for Headline Risk today Major earnings releases (Intel, Starbucks, American Airlines, Southwest, Union Pacific, Discover Financial etc), key economic releases (initial jobless claims, PMI, regional fed survey), and geopolitical events (European Central Bank, Venezuela, China)…today’s market calendar is packed with headlines-driven event risk. The index is facing the big (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 01/24” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) Shrugging aside trade concerns and the fear of a global economic slowdown, the S&P 500 index rebounded from last session’s sell-off as investors turned their focus back on corporate earnings. Strong (more…)
Results of Published Model Entries and Exits for Wednesday 01/23 Per the plans published in the morning today, our medium-term models’ trades yielded 0.14 index points in gains whereas our aggressive intraday models’ trades gained 6.14 index points on one short trade. Below, you will find the detailed tracking of our models’ trading plans for (more…)
Markets Approaching an Inflection Point? (theme continued from yesterday) As we pointed out, S&P 500 index registered eleventh consecutive green candle on the daily charts (on an open-close basis) on Friday, 01/18, and it was to be expected to be broken, which it did yesterday with the close in the red. The index is now (more…)
Results of Published Model Entries and Exits for Tuesday 01/22 Per the plans published in the morning on Tuesday, our medium-term models’ trades yielded 0.73 index points in gains whereas our aggressive intraday models’ trades gained 20.73 index points on one short trade each. Below, you will find the detailed tracking of our models’ trading (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Wednesday, 01/23” will be posted around 8:30am EDT, Wednesday. THE GIST (“THE WHAT”) Taking a breather from its strong 4-day rally, the S&P 500 index opened the holiday-shortened week on a pessimistic note after China reported that its economy grew by 6.6%, the slowest (more…)
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…)
