Stimulus Hope or Covid-19 Despair? Yesterday’s break down below our models’ level of 3485 has the models sporting a mildly bearish bias – a daily close above 3500 is needed for any upside bias to take hold. Between 3485 and 3390, our models would be mildly bearish. Below 3390, they would switch to an outright (more…)

Choppy Trading Range Our models’ level of 3485 is in play again – a daily close below 3485 is needed for the upside pressure to subside. Below 3390, our models would switch to an outright bearish bias. Between 3390 and 3485, they would be mildly bearish. Read below to check out our models’ trading plans (more…)

The Bull Train Chugging Along The record retail sales this morning is steaming the bull train forward; never mind the worse than expected initial jobless claims yesterday. People are losing jobs and getting sick but buying – and will continue to buy – a lot of stuff? Nobody said markets are rational in the short (more…)

“Sell the News” Accelerating? Yesterday JP Morgan and today Morgan Stanley crushed the estimates! The earnings season kicked off this week with impressive earnings. Even Apple’s event gave rise to talks of “super cycle”. Yet, the market action is underwhelming at best. As we wrote in our morning trading plans yesterday, this is likely the (more…)

Earnings Season Started! In our Friday’s morning trading plans, we wrote: “Whatever may be one’s explanation – or, lack there of – for the market melt-up this week, the market has regained its upside bias and appears likely to close the week strong. It takes a daily close below 3390 to negate it”. If you (more…)

If You Wondered What a Melt-up Meant In our Friday’s morning trading plans, we wrote: “Whatever may be one’s explanation – or, lack there of – for the market melt-up this week, the market has regained its upside bias and appears likely to close the week strong. It takes a daily close below 3390 to (more…)

Capping the Week with a Melt-up Whatever may be one’s explanation – or, lack there of – for the market melt-up this week, the market has regained its upside bias and appears likely to close the week strong. It takes a daily close below 3390 to negate it. 3410-3380 is the key range our models (more…)

The Bull Standing Its Ground…for Now Jobless claims worsening week by week, covid-19 getting worse, economy seems to be falling into an abyss…yet, the stock market is gunning back towards its all-time highs. Easy money flowing into stocks? Whatever may be your explanation, the market has regained its upside bias and it takes a daily (more…)

Politics in Over-drive Adding to the Stimulus Uncertainty “The only game in town until earnings season kicks in soon” that we referred to in our trading plans yesterday is now thrown into further disarray with what appears to be Trump’s familiar temper tantrum that halted any stimulus negotiations until after the elections. For our models, (more…)