Markets Approaching an Inflection Point? S&P 500 index registered eleventh consecutive green candle on the daily charts (on an open-close basis) on Friday, 01/18! The index is now resting near the big resistance level of 2675, and if it closes above 2675 on a daily basis then we are looking at 2710-2715 area as the (more…)
Results of Published Model Entries and Exits for Friday 01/18 Per the plans published in the morning, our medium-term models’ plans stayed out of the market on Friday. Our aggressive intraday models’ plans yielded a gain of 15.47 index points on one long trade. Below, you will find the detailed tracking of our models’ trading (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Tuesday, 01/22” will be posted around 8:30am EDT, Tuesday. THE GIST (“THE WHAT”) Building on previous session’s U.S. – China trade optimism, the S&P 500 index rallied higher to log a fourth straight weekly gain. Shrugging aside a weaker-than-expected University of Michigan’s Consumer Sentiment (more…)
Is That a Real Bull in Sight? Not so Fast – Price Action till Monday Close Needed to Gain Clarity and Conviction! S&P 500 index registered tenth consecutive green candle on the daily charts (on an open-close basis)! The index tested the upper end of the 2635-2645 resistance band we mentioned in our forecast yesterday (more…)
Results of Published Model Entries and Exits for Thursday 01/17 Per the plans published in the morning, our medium-term models’ plans lead to 2.06 index points in gains on one long trade today. Our aggressive intraday models’ plans saw a gain of 9.06 index points on one long. Below, you will find the detailed tracking (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Friday, 01/18” will be posted around 8:30am EDT, Friday. THE GIST (“THE WHAT”) Extending gains for the third straight session, the S&P 500 index closed today’s wild session higher as investors weighed mixed earnings results against better-than-expected economic data that eased recession jitters. Disappointing (more…)
Tenth Consecutive Positive Close / Green Candle (On a Daily Open to Close Basis)? If the S&P 500 index closes higher today, it would mark the the tenth consecutive positive close on a daily open to close basis. The index is looking at some strong resistance levels in the 2635-2645 band which, if broken, could (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 01/17” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) Driven higher by strong quarterly earnings reported by Bank of America and Goldman Sachs, the S&P 500 index extended gains for the second straight session. Disappointing earnings reported by several companies (more…)
Results of Published Model Entries and Exits for Wednesday 01/16 Per the plans published in the morning, our medium-term models’ plans lead to 7.80 index points in gains on one long trade today. Our aggressive intraday models’ plans saw a loss of 2.20 index points on one long. Below, you will find the detailed tracking (more…)
Earnings Earnings Everywhere With earnings season picking up, the markets are likely to focus on the basics – the economic fundamentals of the companies underlying the stocks, barring any major surprises on the geopolitical front. While the move up is encouraging to the bulls, below average volume is a concern still. Since Wed, 01/09, our (more…)
