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 higher; moving up since 10:30 AM on Monday; The odds are for an up day – watch for break below 2912.75 for change of fortune Key economic data due: Industrial Production (est. 0.2%; prev. 01.%) at 9:15 AM Capacity Utilization (est. 79.2%; prev. 78.2%0 at 9:15 AM…
Directional Bias For The Day: S&P Futures are higher; moving up since 3:00 AM; broke above past few day’s trading range; first target near 2909.00 is achieved; next target is target near 2915.00 The odds are for an up day – watch for break below 2902.00 for change of fortune Key economic data due: Import…
Directional Bias For The Day: S&P Futures are higher; moving up since 9:30 PM on Tuesday; back within a trading range between 2899.50 and 2884.25 for past two days; The odds are for a sideways to down day – watch for break above 2891.25 and break below 2883.75 for clarity Key economic data due: CPI…
Directional Bias For The Day: S&P Futures are flat; moving sideways since 4:00 PM on Monday; within a trading range between 2899.50 and 2884.25 for past two days; The odds are for a sideways to an up day – watch for break above 2900.00 and break below 2884.25 for clarity No key economic data due:…
Directional Bias For The Day: S&P Futures are higher; moving sideways since 10:00 PM on April 2 within a narrow range between 2889.00 and 2874.00; Awaiting the Non-Farm Payroll report, which will set the tone for the rest of day’s trading The bias is to the upside and break above 2889.00 will be bullish; similarly…
Directional Bias For The Day: S&P Futures are little changed; moving sideways since NYSE close on Wednesday Odds are for a sideways day – watch for break below 2883.00 and break below 2874.00 for clarity Key economic data due: Unemployment Claims ( est. 215K; prev. 211K) at 8:30 AM Markets Around The World Markets in…
Directional Bias For The Day: S&P Futures are higher; drifting up since 8:00 AM Odds are for an up day – watch for break below 2873.00 for change of fortune Key economic data due: ADP Non-Farm Employment Change ( est. 184K; prev. 183K) at 8:15 AM ISM Non-Manufacturing PMI ( est. 58.1; prev. 59.7) at…
Directional Bias For The Day: S&P Futures are little changed; moving up since 3:30 AM; forming a rounding bottom at the high on 30-minute timeframe Odds are for an up to sideways day – watch for break above 2873.50 and break below 2864.50 for clarity Key economic data due: Core Durable Good Orders ( est.…
Directional Bias For The Day: S&P Futures are higher; moving sideways since 8:15 PM on Sunday Odds are for an up day, with high probability of sideways move from pre-NYSE levels – watch for break below 2854.50 for change of fortune Key economic data due: Core Retail Sales ( -0.4% vs. 0.4% est.; prev. 0.9%)…
Directional Bias For The Day: S&P Futures are higher; moving up since 6:30 AM after finding support at a pattern line that was broken earlier Odds are for an up day – watch for break below 2822.00 for change of fortune Key economic data due: Core PCE Price Index (0.1% vs. 0.2% est.; prev. 0.2%)…