Key Inflection Points Ahead 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. Wait for a daily close outside of that range to establish any...
Before Coronavirus, there Was China Pandemic politics suddenly seem to remember another scare/seduction they could use – the China case! Politicians on either side of our flawed(?) “two party system” (aka, our best choice can only be the lesser evil/idiot of the two) seem to be intent on weaponizing Coronavirus and China in the election...
Markets’ Climb Inexplicable? The raging pandemic is supposed to wreak havoc on the economy and jobs! The rising of Joe Biden in the polls and potential democratic control of the senate is supposed to be bad for the stock market! The supposed “Trump effect” on the stock market is supposed to vanish as Trump’s poll...
Markets Still Searching for a Direction For the last three weeks, our models have been indicating a trend-less, choppy trading range of 3235-3150 – on a daily close basis. It continues to be the theme and the key trading levels for today as well. Read below to check out our models’ trading plans for today....
Directionality Yet to Develop The earnings of Bank of America and Morgan Stanley laid bare the two sides of the financial firms’ earnings – one driven by main street economy and the other driven by by the artificial bubble created by the Fed’s unprecedented moves. We wrote yesterday: “models are looking for a close above...
Bouncing On the Balloon…Fun Until it Pops The index cleared the 3150 level handily yesterday, but our models are not sporting any bullish signs, yet. The financial firms’ earnings driven by trading revenues derived mostly by the Fed’s unprecedented moves may not reflect the real economy’s states or prospects. Nevertheless, as the old saying goes,...
All Noise And No Signal We opened this Monday at 3155.29 and we closed yesterday (Thu) at 3152.10 – after so much of seemingly big headlines involving Covid-19 surge and jobs numbers and everything in between! If you, as a trader, have been feeling frustrated and/or chopped up, that is the empirical explanation. Last week,...