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…)
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…)
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…)
Our models indicate that the 2740-50 band is now the key level that holds clues as to the direction of the market for this week. If the market closes above 2750 today, then it opens up a run towards 2800. If the market closes below 2740 today, then it could mark today as the trend (more…)
The Market Mountain Goat…How Long Can It Keep Jumping From Peak to Peak? Barely two sessions ago the news headlines were all about markets “tanking” and now the S&P 500 Index futures #ES is registering a new intermediate peak above the May 14th high of the index at 2742.10 (the futures registered an overnight high (more…)
THE DETAILS -The How, Where and Why As investors digested the developments in Italy’s political situation, markets stabilized during Wednesday. The gains however came under assault on Thursday as trade war concerns were back on investors’ plate after the Trump administration announced its decision to impose strict import duties on Canada, Mexico and the European (more…)
