Chop Fest Till Tomorrow’s FOMC Event With the FOMC rate decision on tap for tomorrow, there may not be much of a directional action until then. Any attempts to try to predict potential directionality from the price action before that could prove a fool’s errand. After flashing indications for a potential peaking in the upside (more…)
Upside Momentum Likely Peaking Our last trading plans published last Friday, 07/15, speculated: “Next Week to See Some Movement?”. We did indeed see a strong upside momentum that blasted the index out of the 3855-3845 range and brought it to test 4000 level. After being in an indeterminate state for all this week, our models (more…)
Stuck for a Week – Next Week to See Some Movement? On the day our last published Trading Plans on Monday, 07/11, stated our positional trading plans going into an indeterminate state, the index closed at 3854.43. After the full week filled with very important economic releases and major earnings kick off – and, volatile (more…)
NFP Friday – Not Many Fireworks? The Non-Farm Payrolls numbers this morning did not really warrant any fireworks so far, despite the 10-year yields rising a bit pre-opening. The rest of the day’s action might mainly be driven by what happens to the yields. Barring any strong pull downwards, the bias remains to the upside. (more…)
Our Key Level is Again in Play – Day 2 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 peak” (more…)
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 Bear Beaten Down, Yet? With the strong surge in the overnight futures, the befuddled market bear appears set to be beaten down today! The Friday’s drop is now in the rear view mirror as markets appear poised to rocket past that day’s highs and some more. What is driving these markets? No one knows (more…)
China Markets Down Big and U.S. Markets Up This Morning? Friday’s market rout has weakened the markets’ technicals considerably. With U.S. confirmed coronavirus cases going up from 8 to 11 over the weekend, the outlook is not any optimistic for the markets. The Shanghai market closed down 7.7% overnight in the first post-lunar-year-break session. S&P (more…)
Monthly Options Expiration to Trump Trump Impeachment and Coronavirus? For the last three mornings, our main theme has been: “Nevertheless, the bears do NOT yet have any clear leg up or even an entry yet – it is going to be an indeterminate state with fierce battle around the 3225-3265 range”. Despite more than 200 (more…)
