Directional Bias For The Day: S&P 500 future is drifting higher, high probability for a positive day On 30-minute, S&P 500 future is carving out a rounding pattern; a break above 2183.00 for S&P eMini future will be bullish Critical support levels for S&P 500 are 2177.85, 2173.80 and 2169.76 Critical resistance levels for S&P 500 are 2185.44, 2188.98 and…
The U.S. economy is giving out good and bad news. On July 29th, the Bureau of Economic Analysis announced that the U.S. real GDP grew by an annual rate of 1.2% in the second quarter of 2016. In historical terms, this is a dismal performance. The average real GDP growth rate from 1947 to 2007 was…
Directional Bias For The Day: S&P 500 future is drifting higher, following through on Friday’s gap-up open and a large range positive day On 2-hour chart, S&P 500 future broke above a rectangle trading range on Friday and is now testing the resistance-turned-support Critical support levels for S&P 500 are 2179.57, 2177.43 and 2168.79 Critical resistance levels for S&P…
Jesse Livermore was a legendary trader, and many people have written and blogged about him. Once in March 2010, while reading some of the books on him and by him, I made few notes and now thought of sharing them. So here they are – I have used first person to indicate what he wrote…
Directional Bias For The Day: S&P 500 future is drifting higher, maintaining a trend that started at 1:00 PM on August 2nd. On 2-hour chart, S&P 500 future is rising toward the upper bound of a rectangle trading range Critical support levels for S&P 500 are 2159.07, 2152.56 and 2147.58 Critical resistance levels for S&P 500 are 2170.20 and 2178,48 Early…
Directional Bias For The Day: Higher probability for a range bound day with an upward pressure On 2-hour chart, S&P 500 future is bouncing off the lower limit of a rectangle trading range and has broken above a down trend line since Aug 1st high Critical support levels for S&P 500 are 2156.30, 2147.58 and 2136.62 Critical resistance levels for S&P 500 are 2170.20…
Directional Bias For The Day: Higher probability for a down day On 4-hour chart, S&P 500 future is knocking on the lower limit of rectangle trading range after breaking below a narrower trading range on Tuesday Critical support levels for S&P 500 are 2147.58, 2136.62 and 2123.72 Critical resistance levels for S&P 500 are 2159.47, 2168.96 and 2173.31 Early morning futures price action…
Directional Bias For The Day: Futures are facing down ward pressure On 4-hour chart, S&P 500 future is back within a narrow rectangle trading box; on 30-minute chart its is forming a descending triangle and is hugging its lower limit Critical support levels for S&P 500 are 2166.21, 2159.70 and 2153.19 Critical resistance levels for S&P 500 are 2178.29, 2183.86 and 2189.43…
Directional Bias For The Day: Greater likelihood of a range bound day, with a down pressure On the 4-hour chart, S&P 500 future broke above a narrow rectangle trading box, which it was forming since July 13th Critical support levels for S&P 500 are 2171.49, 2165.70 and 2157.10 Critical resistance levels for S&P 500 are 2177.09, 2184.99 and 2192.90 European indices gapped…
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