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 lower; moving sideways to down since 7:00 AM on Thursday The odds are for a sideways to down day – watch for break above 2898.75 and break below 2881.75 for clarity Key economic data due: Retail Sales ( 0.5% vs. 0.7% est. ; 0.3%) at 8:30 AM…
Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 4:30 AM The odds are for an up to sideways day – watch for break below 2887.25 for change of fortune Key economic data due: Import Prices ( -0.3% vs. -0.3% est. ; 0.2%) at 8:30 AM Unemployment Claims ( 222K…
Directional Bias For The Day: S&P Futures are higher; moving down since 6:45 AM from a high of 2856.75 to just below 2850 The odds are for an up to sideways day with elevated volatility – watch for break below 2842.25 for change of fortune Key economic data due: Non-Farm Employment Change ( 75K vs. 177K…
Directional Bias For The Day: S&P Futures are higher; moving sideways since 3:30 AM after breaking above an ascending triangle The odds are for a sideways to an up day with elevated volatility – watch for break below 2821.75 for change of fortune Key economic data due: Challenger Job Cuts (85.9%; prev. 10.9%) at 7:30…
Directional Bias For The Day: S&P Futures are higher; moving lower since 6:30 AM from a high of 2824.50; Fallen back into a narrow horizontal channel on 30-minute chart from which price broke out at 5:00 AM The odds are for a sideways to an up day with elevated volatility – watch for break below…
Directional Bias For The Day: S&P Futures are higher; moving higher since 3:30 PM on Monday; new leg up since 2:30 AM; broke above double bottom pattern The odds are for an up day with elevated volatility – watch for break below 2759.00 for change of fortune No key economic data due: Markets Around The…
Directional Bias For The Day: S&P Futures are lower; moving sideways to up since 6:00 PM on Sunday after a gap down open for the week The odds are for a sideways to an up day with elevated volatility and substantial potential to reverse the bounce and resume downtrend Key economic data due: ISM Manufacturing PMI…
Directional Bias For The Day: S&P Futures are lower; fresh leg down since 7:30 PM on Thursday The odds are for a down day with good chance of a bounce from pre-open levels and elevated volatility – watch for break below 2776.00 for change of fortune Key economic data due: Core PCE (0.2% vs. 0.2%…
Directional Bias For The Day: S&P Futures are higher; moving up since 12:30 PM on Wednesday The odds are for an up to sideways day with elevated volatility – watch for break below 2785.00 for change of fortune Key economic data due: Prelim GDP (3.1% vs. 3.1% est.; prev. 3.2%) at 8:30 AM Prelim GDP…
Directional Bias For The Day: S&P Futures are lower; moving down since 9:30 PM on Tuesday; moving sideway since 2:30 AM The odds are for a down day with elevated volatility – watch for break above 2800.00 for change of fortune Trade news influencing the sentiments; risk-off sentiments Key economic data due: Richmond Fed Manufacturing…