Interim Top is Yet to be Tested As we cautioned in our trading plans yesterday: “Investors should be cautious against jumping to a conclusion about a “bear” market – the structure of the indexes is still not broken into a bearish territory, yet”. True to those words, the indexes are making an attempt at a (more…)
Our Models Confirm an Interim High Ahead of Schedule! In our trading plans published on Thu, 07/15, we wrote: “As of 8:30am ET, our models indicate staying flat for the day. No long bias while below 4380. Models hint at a potential interim top at 4393, unless it is taken out by next Tuesday close”. (more…)
Interim High Recorded? In our trading plans published on Wed, 06/30, we wrote: “Our models are looking for a sustained daily close above 4310 on Tue, 07/06 (after the long weekend) to open any new longs”. Since then, our positional models have been long and continue to be long until this morning. As of 8:30am (more…)
Consolidating Recent Gains In our trading plans published on Wed, 06/30, we wrote: “Our models are looking for a sustained daily close above 4310 on Tue, 07/06 (after the long weekend) to open any new longs”. Last week’s one-day weakness proved to be just a blip and the index comfortably continues to be in the (more…)
Standing Their Ground In our trading plans published on Wed, 06/30, we wrote: “Our models are looking for a sustained daily close above 4310 on Tue, 07/06 (after the long weekend) to open any new longs”. Yesterday morning’s weakness evaporated eventually, based on the hopes that Fed is under control still. For positional trading: Our (more…)
Precarious Ascent In our trading plans published on Wed, 06/30, we wrote: “Our models are looking for a sustained daily close above 4310 on Tue, 07/06 (after the long weekend) to open any new longs”. We got this sustained close above 4310 yesterday, Tue 07/06, and our positional models indicate a long bias (again (more…)
Resting Period? The 4310 mentioned in our last trading plan has been comfortably breached and the bulls are enjoying a comfortable ride up over the quarter end and the July 4th related thin trading. Now that full liquidity is likely coming back, there could be some consolidation ahead before a short term directional leg unfolds. (more…)
Quarter-end Window Dressing? In our trading plans yesterday, Tue 06/29, we wrote: “The index made a new record intraday high at 4300.7 and it looks like it could be the high for the session, and if not taken out tomorrow then it could be the high for some time to come. Holiday related thin trading (more…)
Interim High In? The index made a new record intraday high at 4300.7 and it looks like it could be the high for the session, and if not taken out tomorrow then it could be the high for some time to come. Holiday related thin trading in the coming days could test it in a (more…)
Melting Up In our trading plan for Tuesday, 06/22, we wrote: “After a big move on both Friday and Monday, the index is essentially where it was mid last week! 4250-4215 remains the key range to break out of”. The index is testing the top of this range today and the price action around the (more…)
