Earnings Exuberance? After registering the session low of 4162.90 in yesterday’s session S&P 500 appears to be on an attempt to rebound, apparently powered by the earnings from Meta/FaceBook and on anticipation of earnings from Amazon and Apple. How long this may last is anybody’s question. Our positional models will avoid going long while the index (more…)
Another Bull Trap Goes on the Record! In the morning of Thu, 04/21, when the markets were upbeat and most analysts were pumping the markets with the “inflation is peaking” narrative, we wrote this in our trading plans: “the levels our positional trading models indicated (4495-4517) are likely coming into play today and in the (more…)
Last Couple of Weeks of Volatility Regular readers of our Daily Trading Plans recognize today’s market action as the expected “Month-end Moves”. After going into an indeterminate state, our models are pointing to early indications of another leg of volatility to kick in later this week. Before that, tomorrow could see the “first-of-month flows” related (more…)
Post-FOMC 2-hour Trading Window Results – Stunning? In our FOMC-day Trading Plans published yesterday afternoon, we wrote: “While the Fed tightening (four rate hikes) is already priced in, what happens after today’s FOMC release depends, of course, on what exactly Chair Powell has got to say”. And, he did say a lot in the press (more…)
Sell-the-Rumor and Buy-the-News? The wild ride of the last few days is likely to reach the crescendo today, on the back of the FOMC release at 2pm EST. Predicting the directionality can be a fools errand today – intraday, nimble trading OR very long term investing are the only games worth playing in town. A (more…)
The Wild Ride to Continue – Day 3 This wild ride that we first titled our trading plans with two days back is indicated to continue into Day-3 today, and likely reach a crescendo tomorrow, in the wake of the FOMC meeting. Intraday, nimble trading OR very long term investing are the only games worth (more…)
The Wild Ride to Continue – Day 2 Last Thursday’s (01/20) stunning reversal in the momentum, and the subsequent break of strong support levels speak to the volatility gaining momentum. Intraday, nimble trading OR very long term investing are the only games worth playing in town. As we wrote in the trading plans of Wednesday, (more…)
The Wild Ride to Continue Yesterday’s stunning reversal in the momentum, and the subsequent break of strong support levels speak to the volatility gaining momentum. Intraday, nimble trading OR very long term investing are the only games worth playing in town. As we wrote in the trading plans of Wednesday, 01/19: “As we wrote in (more…)
An Interim Bottom in Tech Stocks? Our models are pointing to the possibility that yesterday pre-markets’ rebound attempt could be gaining some momentum today. The worse-than-expected jobless claims could lend some support here as well (“the Fed can’t be too aggressive if we are losing more jobs” could be the thought process here). Shorts might (more…)
Key Support Levels Being Tested The early stages of the market rout that began this week has brought the index to test key support levels overnight in the futures markets and are attempting to rebound from there. Whether this rebound attempt prevails in the regular market hours remains to be seen. As we wrote in (more…)
