Note: The charts and data are as of Friday April 5, 2019. To enlarge please click on charts. International Equities World equities are on an upswing. The S&P 500 stumbled a bit in the early part of 2018 and then again in Q4 too but since then it is rising consistently (see Chart 1) It…
Intermarket US Dollar ($USD) has been mostly rising since early February 2018 (Chart 1) after making a low of 88.15. On relative basis, the Dollar Index is out-performing Reuters/Jefferies CRB Index (Chart 2). U.S. Treasury Bonds ($USB) have been mostly declining since June 2017 from a high of 176.06 but since October 2018, they have been staging a rally, after…
S&P 500 Current Trend: Confirmed Uptrend Monthly Up-sloping channel; at the median of a regression channel RSI made a Bearish Divergence in Sep-19 and is below a downtrend line since Weekly Potential emergence of Arthur Merrill’s W7 or W11 or W12 wave patterns RSI-9 made a Bearish Divergence on 17-Sep-18; trying to break above a downtrend line; coming off…
Turmoil In the Equity Markets The second week of the Q4 of 2018 saw the biggest decline for S&P 500 since the week of March 23, 2018 (see Fig. 1). What is more concerning is that 14-week RSI made a bearish divergence during the week of September 17, when the index made a new all time high. In…
What To Expect at Next Week’s Fed Meeting This coming week the Federal Reserve is going to conduct the Federal Open Market Committee (FOMC) meeting, its sixth of the year, over a two-day period, followed by a press conference at 2:00 PM on Wednesday September 26th. This will be the third meeting of the year with a press-conference.…
Directional Bias For The Day: S&P Futures are down; moving lower since 12:00 PM on May 16; fresh leg down since 4:00 AM The odds are for a down day with elevated volatility – watch for break above 2847.75 for change of fortune No key economic data due Markets Around The World Markets in the…
Directional Bias For The Day: S&P Futures are down; moving lower since 12:00 PM on Thursday; broke a sequence of higher highs and higher lows since 6:00 PM on Monday The odds are for a down day with elevated volatility – watch for break above 2871.00 for change of fortune China trade and tariff news is…
Directional Bias For The Day: S&P Futures are up; moving higher since 3:30 AM after making a near double bottom; The odds are for an up day with elevated volatility – watch for break below 2853.25 for change of fortune China trade and tariff news is still impacting the sentiments Key economic data due: Building Permits…
Directional Bias For The Day: S&P Futures are down; moving down in steps; fresh leg down since 7:00 AM; The odds are for a down day with elevated volatility – watch for break above 2834.50 for change of fortune China trade and tariff news is still impacting the sentiments Key economic data due: Retail Sales…
Directional Bias For The Day: S&P Futures are lower; fresh leg down since 6:30 AM; break below a horizontal channel; 100% extension target almost achieved The odds are for a down day with elevated volatility – watch for break above 2861.75 for change of fortune China trade and tariff news is still impacting the sentiments Key…
Directional Bias For The Day: S&P Futures are lower; fresh leg down since 7:00 AM The odds are for a down day with elevated volatility – watch for break above 2870.50 for change of fortune China trade and tariff news is still impacting the sentiments Key economic data due: PPI (0.2% vs. 0.2% est.; prev.…
Directional Bias For The Day: S&P Futures are lower; moved down from 2877,50 at 4:00 AM to near 2875.00 level The odds are for a down day with elevated volatility though with a decent chance of moving sideways to up from pre-NYSE levels – watch for break above 2886.25 for change of fortune China trade…
Directional Bias For The Day: S&P Futures are lower; moving down since 2:30 AM after a bounce; at the same level that was reached after the decline following the NYSE close on Monday The odds are for a down day with elevated volatility though with a decent chance of moving sideways to up from pre-NYSE levels…
Directional Bias For The Day: S&P Futures are sharply lower; bouncing up from a low of 2883.50 at 9:00 PM on Sunday, a 66 point decline from Friday’s close; The odds are for a down day with elevated volatility though with a decent chance of moving sideways to up from pre-NYSE levels – watch for…
Directional Bias For The Day: S&P Futures are higher; moving up since 11:30 AM on Thursday; fresh boost from upbeat employment report The odds are for an up with elevated volatility – watch for break below 2921.75 for change of fortune Key economic data due: Non-Farm Payroll Change ( 236K vs. 181K est.; prev. 189K) at…