Looks Like the Bulls – While Still Strong – are Feeling Tired… Thursday’s action in S&P 500 is noteworthy since it approached but failed to pierce two important levels – the day’s high at 2779.90 just fell short of taking out our proprietary key level of 2780, and the day’s low at 2760.16 just fell (more…)
S&P 500 TODAY THE GIST (“THE WHAT”) The S&P 500 index took a breather after rallying for four straight days as a sell-off in FANG stocks overshadowed a rally in the Energy and Telecommunication sectors. For four days in a row, the index has managed to stay above the trading range of 2700-40 which it was (more…)
Our forecast for today’s markets – published last night – stated “our Medium-term Models currently have a stop at 2760″. As of this writing (1:43pm EDT) S&P 500 Index regsitered the day’s low at 2760.16 with the E-mini Futures ES registering exactly 2760. If the index breaches this level (2760), then our short-term intraday models would (more…)
The Bulls Charged Ahead Full Force – About to Get Tired? In our forecast for Wed, 06/06/18, we said: “The index failed to close above that band for two days in a row, closing at 2746.87 on Monday and at 2748.80 on Tuesday. The bulls have to clear this and close above 2750 today for (more…)
S&P 500 TODAY THE GIST (“THE WHAT”) The S&P 500 index rallied to a two-month high, led by Financials stocks as yields inched up following remarks by ECB chief economist, indicating that the central bank is on track to discuss an eventual wind-down of its monthly bond buying program. Early morning gains led by blue-chip (more…)
What Can Stop This Bull Run? As mentioned in our IntradayAlert published on Monday, June 4th, our models indicate that the 2740-50 band is now the critical resistance band for S&P 500 Index, which is going to hold the clue about the next directional bias of the market. The index failed to close above that band for (more…)
S&P 500 THE GIST (“THE WHAT”) The S&P 500 index extended Monday’s gains in the early morning session as Technology sector outperformed and investors shrugged off trade war and geopolitical tensions for now. Weakness in the Financials and Consumer staples sectors however weighed down on the index, dragging it to reach day’s low at 2739.51, (more…)
You read it here in the forecast for today, published last night: “Medium term models are biased against short selling, and are cautious about opening fresh long buying. For Tuesday, the models indicate staying flat below 2753, and buying within 2753-55 range with tight stops.”And, the index reached as high as 2752.61 in today’s session so far – just 0.39 (more…)
The Market Bull Sizing Up the Resistance Ahead As mentioned in our IntradayAlert published today, our models indicate that the 2740-50 band is now the critical resistance band for S&P 500 Index, which is going to hold the clue about the next directional bias of the market. The index registered the session high at 2749.16, (more…)
S&P 500 THE GIST (“THE WHAT”) Extending Friday’s gains, the S&P 500 index opened 12.25 points above last week’s close, finally breaking out of the 2700 – 2740 range it was confined to since May 9. Shrugging off the trade war concerns for now, investors remained optimistic after a strong jobs report released Friday suggested (more…)
