S&P 500 THE GIST (“THE WHAT”) Extending Friday’s gains, the S&P 500 index opened 12.25 points above last week’s close, finally breaking out of the 2700 – 2740 range it was confined to since May 9. Shrugging off the trade war concerns for now, investors remained optimistic after a strong jobs report released Friday suggested (more…)
Our models indicate that the 2740-50 band is now the key level that holds clues as to the direction of the market for this week. If the market closes above 2750 today, then it opens up a run towards 2800. If the market closes below 2740 today, then it could mark today as the trend (more…)
The Market Mountain Goat…How Long Can It Keep Jumping From Peak to Peak? Barely two sessions ago the news headlines were all about markets “tanking” and now the S&P 500 Index futures #ES is registering a new intermediate peak above the May 14th high of the index at 2742.10 (the futures registered an overnight high (more…)
THE SUMMARY – THE WHAT The S&P 500 index tumbled at the opening of the holiday-shortened week (markets were closed on Monday for Memorial Day)the in the wake of several news headlines reeling the global markets, including Italy’s political drama that threatened a European debt crisis. The index fell sharply below its 100 DMA during (more…)
THE DETAILS -The How, Where and Why As investors digested the developments in Italy’s political situation, markets stabilized during Wednesday. The gains however came under assault on Thursday as trade war concerns were back on investors’ plate after the Trump administration announced its decision to impose strict import duties on Canada, Mexico and the European (more…)
The trailing stop mentioned in earlier Intraday Alert is now hit on the long, and profits are booked at 2030.50. That’s a ten point profit on a long trade set up based on yesterday’s bearish market action. Not bad for our models’ performance! If you have been following the forecasts and trading based off of (more…)
A grateful reader reached out pointing out to these words from our forecast published last night: “Bulls have to push the index into the 2730-35 region and clear above 2740 to keep the bullish move going, failing which would weaken the bulls again.”And, pointing to the fact that the market has actually penetrated exactly that (more…)
Short term traders who followed our trading plan for today – published last night – would have bought the market (e-mini Futures #ES or the ETF #SPY) on SPX crossing above 2720. If so, they are sitting on decent profits within a couple of hours. Models indicate placing a trailing stop of 5 points at (more…)
It’s a dogfight between the bull and the bear! No bear territory yet! If all the headline news and the market buzz have you feel that the markets are tanking and you wish you sold all your holdings, you are probably not alone! Nor are you particularly to be blamed for feeling overwhelmingly negative, since (more…)
S&P 500 THE GIST (The “What”): The index failed to hold on to its key support level of 100 DMA (now at 2710.25) for the second time this week,reaching the day’s low at 2700.68. Led by Industrials and Consumer Staples, the index closed a volatile trading day near session lows at 2705.27 (down 18.74 points), losing (more…)
