Our Key Level is Again in Play On this FOMC Day After breaking through the 3793 level we published for the last few days, the index is now rushing to test the 3855 level our models have been talking about multiple times in the last few weeks. This is the “20% down from the last (more…)
Inflation Fears leading to Recession Scares As we stated in our trading plans on Thursday, 06/30 morning: “the index is now testing a key range of 3765-3793”. This range was breached that day but the index climbed back up. This range is in play again this morning. If the index registers a daily close below (more…)
The ISM Release to Set the Market Tone Next? As we stated in our trading plans yesterday morning: “the index is now testing a key range of 3765-3793”. This range was breached yesterday but the index climbed back up close, and is testing the upper limit approaching the session open. The ISM release at 10:00am (more…)
Consolidation or Next Leg of Volatility? With the rejection of the 3950 level, and with the breakdown below 3855 level, the index is now testing a key range of 3765-3793. If a daily close above this range then it would indicate ongoing consolidation of the recent move up, but if a daily close below this (more…)
Range Bound Consolidation – Day 2 Our published trading plans yesterday, Tue. 06/28, stated: “Until it breaks above the 3950 level meaningfully, we could be headed for some days of consolidation within the 3850-3950 range”. The 3950 level was rejected yesterday and the index is back in the low 3800’s, potentially whipsawing around the 3855 (more…)
Range Bound Consolidation Ahead As our last published trading plans on Fri. 06/23 stated about the 3855 level: “If and when it reaches that level, whether it can sustainably break through above that or if it gets rejected and falls lower is going to determine the next leg of action”. The index did break through (more…)
Interim Bottom In. Target 3855 – Day 2 Our trading plans yesterday confirmed an interim bottom at 3636, and stated: “The price action that ensued indicate a potential interim bottom at that level, and there might be an attempt to retest the 3855 level from below in the coming days”. Today is Day 2 in (more…)
An Interim Low at Last Friday’s 3636.87 The 3855 level we focused on Friday, 06/10, was broken below and a new session low of 3636.87 was registered last Friday, 06/17. The price action that ensued indicate a potential interim bottom at that level, and there might be an attempt to retest the 3855 level from (more…)
Fools Rush in Where Angels Fear to Tread We brought the 3855 level back onto our readers radars on Friday, and on Monday that level was decisively broken with a daily close below it. We are now officially in a bear market, and it does NOT appear that the markets will bounce out of it (more…)
Next Leg to Retest the 3855 level? As we wrote in our trading plans yesterday morning, the “bear trap” has been broken and the bears are on the attack again. Both our positional trading models and our aggressive intraday models did very well yesterday, and are pointing to further downside to unfold in the coming (more…)
