Morning Notes – Wednesday January 31, 2018

Directional Bias For The Day: S&P Futures are higher and trending up since 1:00 PM on January 30 Trying the break above an ascending triangle on 30-Minute chart Odds are for an up day; good chance of increased volatility – watch for break below 2828.50 for a change of fortunes Key economic data due: ADP Non-Farm Employment Change (234K vs. 186K…

Morning Notes – Tuesday January 30, 2018

Directional Bias For The Day: S&P Futures are down and moving down since 5:00 AM An up-sloping flag on 6-minute chart is broken to the downside but there is a support at 2831.00, a break below it would be quite bearish Odds are for down day; good chance of increased volatility – watch for break above 2845.75 for change of fortunes Key economic data…

Morning Notes – Monday January 29, 2018

Directional Bias For The Day: S&P Futures are lower An up-sloping flag is emerging on 6-minute chart and a break below 2864 will be bearish Made all time high at the week’s open, good probability that it may be tested Odds are an up to sideways day; good chance of increased volatility – watch for break above 2874.75 and below…

Morning Notes – Friday January 26, 2018

Directional Bias For The Day: S&P Futures are higher A symmetrical triangle is forming on 30-minute charts with price near the upper bound Odds are an up day, but sideways to down from pre-open levels  – watch for break above 2853.50 and below 2844.25 for change of fortunes Key economic data due: Advanced GDP (2.6% vs. 3.0% est.) at 8:30 AM…

Morning Notes – Thursday January 25, 2018

Directional Bias For The Day: S&P Futures are higher A symmetrical triangle broke to the upside on 6-minute charts; the 61.8% extension near 2847.50 is achieved Odds are an up day – watch for break below 2836.25 for change of fortunes Key economic data due: Unemployment Claims (233K vs. 23K est.) at 8:30 AM Markets Around The World Markets…

Morning Notes – Wednesday January 24, 2018

Directional Bias For The Day: S&P Futures are higher A descending triangle broke to the upside on 161.8% extension near 2850.25 is achieved Odds are an up day – watch for break below 2843.00 for change of fortunes Key economic data due: Existing Home Sales (est. 5.72M) at 10:00 AM Markets Around The World Markets in the East closed mostly higher…

Morning Notes – Tuesday January 23, 2018

Directional Bias For The Day: S&P Futures are down following big gain that took futures to 2842.00 at 2:30 AM Increased range, to downside, since 5:30 AM on 15-minute TF Odds are a sideways day, with choppy trading – watch for break above 2840.00 and below 2822.75 for change of fortunes No Key economic data due Markets Around The World Markets…

Morning Notes – Monday January 22, 2018

Directional Bias For The Day: S&P Futures are down; moving sideways since 6:30 PM on Sunday with one spike up at around 7:30 AM Futures gapped down at the week’s open and the gap, which hasn’t filled yet, is acting as a resistance Odds are a sideways day, depending upon the progress, or lack thereof, government shutdown talks –…

How The S&P 500 Fared During The Last Shutdown Talks?

The last U.S. government shutdown happened in October 2013. Then the federal government shutdown lasted for sixteen days from October 1st to October 17th. Here is the time line for it. The U.S. House of Representative was controlled by Republicans, the Senate by Democrats and Obama was president. The point of contention was Affordable Care Act (ACA) or the…