Setting Up for a Potential Drop in the Next Few Days The sell off post-NFP has bounced off of the key level of 3585 that we published in our last trading plan on Tue 10/11. As we wrote on that day, “How this support level holds up once the earnings season kicks off later this (more…)
Key Support Level Being Tested Heading Into the Earnings Season The sell off post-NFP is testing the key level of 3585 on the index. If the index closes below that on a daily close basis, then we might be heading for a new post-pandemic lows. The index tested that level yesterday and today, with a (more…)
Be Cautious of Getting Chopped Into the NFP Friday The early October action this week looks to be testing some resistance levels until this Friday’s NFP release, with choppy spikes in both directions on the way. What happens post-NFP is anybody’s guess, and depends on how the numbers look. As we wrote in our trading (more…)
Markets Setting Up For NFP Friday With the yields beginning to ease off a bit, and the earnings season not in until late next week, this week’s action looks to be testing some resistance levels until this Friday’s NFP release. What happens post-NFP is anybody’s guess, and depends on how the numbers look. In our (more…)
FX Rates and the US Yields to Drive the Market Action This Week With the FOMC in the rear view mirror (for now) and the June low briefly tested, there does not seem to be any major event or technical risks to the markets as of now. The main market drivers this week are likely (more…)
FOMC Day Today – Markets’ Day of Reckoning or Rejoice? The day the markets have been holding their breath has finally come! Every market participant and every market pundit is going to parse – ad nauseum – every word, and its intonation, uttered by Chair Powell today. The increasing noise about potential ‘global recession’ is (more…)
FOMC Rate Decision Tomorrow – The Crescendo or an Anticlimax? The FOMC Countdown to Wed, 09/21 is now gathering steam with bulls hoping for “peaking” of the inflation/monetary policy hawkishness and bears hoping for a continuation of it. Last Friday’s dire warning from FedEx about “worldwide recession” is adding another wrinkle to the already complicated (more…)
FOMC Countdown: 7 Days To Some Directionality? The day we published our last week’s last trading plans, Wed 09/07, S&P 500 index closed at 3979.87. After about a week of apparent huge moves, the market is right around where it was that day – around 3970 as of 1:00pm ET, today. As we wrote on (more…)
This Market Isn’t Really Going Anywhere Fast! The day we published our last trading plans, Wed 09/07, S&P 500 index closed at 3979.87. After about a week of apparent huge moves, the market is right where it was that day – around 3950 as of 3:25pm ET, today. As we wrote on that day: “A (more…)
Inflation Peaking? FOMC Overshoot? Since our last trading plan published on Monday, 08/29, with the title “Don’t fight the Fed!”, markets have dropped significantly, and our models indicated a potential halt to that drop post the NFP data last Friday. Markets seem to be torn between the two powerful anticipations of Hope (that inflation might (more…)
