Market Diary – Monday September 12, 2016

Directional Bias For The Day: The futures facing downward pressure but odds are for a sideways move with down pressure Futures are sideways since Asian session on Sunday (U.S. time) after falling more in the after-market trading post-NYSE close on Friday Futures off the lows of 2100.25 by more than ten points Markets in Asia were mostly down overnight and…

S&P 500: 15 Thousand Feet View

Weekly Chart Analysis Updated on Thursday November 3 2016 Many jitters are hitting the market – U.S. presidential election, Fed-Fund rate hike expectations – at the same time. On daily time frame the index has reversed the trend. On weekly time frame it has fallen below a previously broken resistance level – the high of 2015. On November…

Market Diary – Friday September 09, 2016

Directional Bias For The Day: The futures facing downward pressure – odds are high for a down trend day ECB Policy inaction has perhaps changed the tone of the market Markets in Asia were mostly down overnight and European stocks are down too Futures contract changed to Dec’ 16 On Thursday, at 4:00 PM, S&P future (Dec contract)…

Market Diary – Thursday September 08, 2016

Directional Bias For The Day: The futures were little changed at 8:30 AM Past many days the price-action has been subdued – the 5-day average range (not ATR) is 0.7% and the average change is +0.1% On Wednesday at 4:00 PM, S&P future (Sept contract) closed at 2185.25 and the index closed at 2186.16 – a spread of about 0.75…

Market Diary – Wednesday September 07, 2016

Directional Bias For The Day: The futures were little changed at 8:30 AM Intraday charts are showing mixed trend On Friday at 4:00 PM, S&P future (Sept contract) closed at 2185.50 and the index closed at 2186.48 – a spread of about 1.00 points Key Levels: Critical support levels for S&P 500 are 218.02, 2175.10, and 2170.67 Critical resistance levels…

Market Diary – Tuesday September 06, 2016

Directional Bias For The Day: The futures were little changed at 8:30 AM The day after Labor Day has been bullish for the market with average gains of +0.5% over the last 21 years On Friday at 4:00 PM, S&P future (Sept contract) closed at 2178.50 and the index closed at 2179.98 – a spread of about 1.50 points…

Back to School But September Calls For Caution

Dog Days bright and clear Indicate a happy year; But when accompanied by rain, For better times, our hopes are vain. — Dog Days of Summer Folklore Sirius is the brightest star seen from Earth in the constellation Canis Major, the Greater Dog, which is in the Southern Celestial Hemisphere or the Southern Sky. Being the most prominent star…

Market Diary – Friday Sep 02, 2016

Directional Bias For The Day: The futures were unchanged before Non-Farm Payroll release, S&P futures traded in a very narrow range from 4:00 PM high of 2169.00 to European session open low of 2164.75 Post 8:30 data release, S&P futures jumped almost ten points For the past few days, at NYSE open, the futures were slightly changed and the…

Market Diary – Thursday Sep 01, 2016

Directional Bias For The Day: The futures are higher S&P futures reached a high of 2177.25 at the European session open and are now below the resistance at 2176.50 level, the high that has sustained tests on past two days For the past few days, at NYSE open, the futures were slightly changed and the day’s trading swung both…