Agile Enough to Play with Turbulence? Yesterday’s dizzying upside rally leaves the 2780 support firmly cemented. Now, markets could take some time digesting this with some sideways consolidation, before attempting to thrust another directional push. The 2950 level is the immediate resistance which needs to be cleared on a daily close basis for further upside....
Chasing the Gap? On the morning of Monday, 05/04/20, we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. After getting supported at...
Will the Support Hold Today? Last Monday (05/04) morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. After getting supported at (more…)
Bears to Cautiously Watch Today’s Price Action Last Monday (05/04) morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. After getting (more…)
Bears Getting a Little Bolder? As our models were indicating over the last two weeks, we could have seen the crescendo at the 61.8% retracement around 2950 during the last week of April, unless the index successfully tests that level this week. Between 2850 and 2950, our models would be in an indeterminate state, below (more…)
Bulls and Bears…Feeling Tired… Last Monday (05/04) morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. Of course, we didn’t get (more…)
Tired Bulls, Timid Bears Last Monday (05/04) morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. Of course, we didn’t get (more…)
Our Models are Sitting out the Markets Today Yesterday morning our Trading Plan said: “As our models were indicating all week last week, we could have seen the crescendo at the 61.8% retracement around 2940 last week, unless the index reclaims the 2900 handle this week. Can we manage to get a daily close above (more…)
All Noise and No Signal Monday morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. Of course, we didn’t get that (more…)
All Sizzle and No Steak – Market Action Lacks Direction Monday morning we wrote: “The worse than estimated GDP contraction, the 30+ million total job losses, and mainly, Warren Buffet sitting tight on his hand…seem to be finally catching up with the markets this week? A daily close below 2780 today will confirm that”. Of (more…)
