Today’s Spike Up Sustainable? Our models are suspicious of today’s spike up as caused by the “first-of-month” artificial/systematic inflows, and remain in bearish bias while the index is below 3905 on a daily close basis. The index has breached and broke down below our range of 3930-3880 after spending four weeks within that range –...
Market Bear Taking a Peek The likely market top we hypothesized in our Friday’s trading plan, which stated “With last Friday’s high of 3937 and close of 3934 registering now as a failed breakout attempt. Could that be the near term top? Only time can tell! What we can know is that we are going...
Early Signs of Record Run Fatigue… In our model trading plans yesterday morning, we wrote: “After successfully calling the break to a record new high, our models point to a possible exhaustion in the leg-up before any meaningful continuation to manifest”. That “possible exhaustion” our models were pointing to materialized overnight (purportedly starting with the (more…)
Record High Exhaustion or Next Leg-up Exhilaration or… After successfully calling the break to a record new high, our models point to a possible exhaustion in the leg-up before any meaningful continuation to manifest. However, bears should not jump in to take any directional short positions yet, as the market internals point to bullish bias (more…)
S&P 500 Index Made a Record High This Morning! What Now? Sixth time IS a Charm, after all! We wrote in our yesterday’s trading plans: “After failing four days in a row to breach the pre-pandemic record high, the index appears all set to test the record high and succeed this week, if not today”. (more…)
Institutional Investors Following Individual Investors?! With this morning’s new target from Goldman Sachs for 2020 year end S&P 500 Index – and, with JPMorgan joining them in the bullish outlook – the institutions appear poised to making the grounds ready for the next rally. Interestingly, this follows American Association of Individual Investors’ sentiment index recorded (more…)
Fourth Time’s a Charm? After failing three days in a row to breach the pre-pandemic record high, could the index try to test the record high and succeed today? If it succeeds, can it be sustained? Are there underlying economic factors supporting such move for the long term? These are the questions on almost every...
Almost There?! Regardless of the underlying economic rationale (or, lack thereof), the index appears on its way to test the record high set before the pandemic. Whether it can really breach the top and if it sustains it after that or falls back is anybody’s guess. As we wrote last week, “Structurally, there is no...
New High, Try Again? Depending on one’s perspective, Kamala Harris’ pick as Biden’s running mate could mean a more moderate Democratic platform and hence good for the markets even in case of a Democrats’ win in November, or a potential loss for Trump and hence bad for the markets. The reality might be something more...
The Index Gunning for a New High? Regardless of the underlying economic rationale (or, lack thereof), the index appears on its way to test the record high set before the pandemic. Whether it can really breach the top and if it sustains it after that or falls back is anybody’s guess. As we wrote last...
