S&P 500 Nearing The Upper Limit of Regression Channel

The 65 Thousand Feet View Last Update on Tuesday January 2, 2018 The S&P 500 is marching, with nary a worry, to the beats of technical patterns. It is approaching the upper limit of a regression channel (78 months and 0.5 standard deviation) on monthly chart (see Fig. C). From February to September 2017, the index  moved up along the linear…

Morning Notes – Thursday January 4, 2018

Directional Bias For The Day: S&P Futures are higher; moving gradually higher since 4:30 PM on December 29 Odds are for an up day – watch for break below 2708.25 for change of fortunes Key economic data due: ADP Non-Farm Employment Change (250K vs. 191K est.) at 8:15 AM Unemployment Claims (250K vs. 241K est.) at 8:30 AM Markets Around The…