Not a Bad-news is a Good-news? The jobless claims headlines this morning could feed the bulls even if the details could mean nothing good going on for the economy in the midst of this pandemic. Structurally, there appears more room for the current bull run although it might be running out of steam shortly. Until...
Is That a Bull? If it looks like a bull and feels like a bull, is it a bull? That seems to be the question on most people’s minds these days about the markets, and it is legitimate given that the unemployment situation seems to be getting worse with the pandemic and yet the financial...
Bull Trap or Bear Trap? Last Friday’s trading plans stated: “Our models are looking for a daily close above 3260 today AND a follow through on Monday, to adapt a bullish bias”. And, our yesterday’s trading plan stated: “We got a close above the 3260 on Friday, and our models are looking for a close...
M&A Headlines and the First-Trading-Day-of-Month M&A headlines and the first-trading-day-of-the-month phenomenon could be driving today’s price action, which may or may not necessarily follow through into the week. Last Friday’s trading plans stated: “Our models are looking for a daily close above 3260 today AND a follow through on Monday, to adapt a bullish bias”....
Earnings to Catapult the Index Out of the Range? The blowout earnings from the big tech companies after hours yesterday, while impressive, may not necessarily indicate any reprieve for the main street as millions of jobs are disappearing and the GDP is shrinking. Our models are looking for a daily close above 3260 today AND...
Yeah, Still Stuck within the Range! Despite what might appear as “the sky is falling down” kind of news about the GDP and the economy, and despite what might feel like a barrage of “market moving headlines”, the S&P 500 Index is still stuck within the 3200-3250 range that our models have been publishing for...
Lack of Leadership Ailing the Markets Lack of leadership ails the markets and keeps them stuck in a directionless choppy range – just like it does to the progress of any nation – as we have been witnessing for the last many sessions. As we wrote in our trading plans last Friday: “For a break...
Got Unstuck, Yet? As we wrote in our trading plans last Friday: “For a break down to the downside to manifest, we need a close below 3235 today, AND a close below 3200 on Monday”. Shorts should avoid the temptation to get into directional shorts while above 3200 on a daily close basis. Longs should...
Stuck in a Range? Our trading plans last Thursday mentioned: “With so much turmoil going on in the nation, the markets are flirting with making a new high but struggling to reach there. 3245-3275 is the key range that determines which way the S&P 500 Index could break out”. After closing below 3245 and with...
Break Out to the Downside? (Note to the language aficionados out there: no, it is not the same as a breakdown) Our trading plans yesterday mentioned: “With so much turmoil going on in the nation, the markets are flirting with making a new high but struggling to reach there. 3245-3275 is the key range that...
