Morning Notes – Friday January 5, 2018

Directional Bias For The Day: S&P Futures are higher; moving gradually higher since 4:30 PM on December 29; started moving up at 1:30 AM after moving sideways from NSE close Jobs data will affect the pre-open and early morning price move Odds are for an up day – watch for break below 2721.50 for change of fortunes Key economic data due: Non-Farm…

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…

Morning Notes – Wednesday January 3, 2018

Directional Bias For The Day: S&P Futures are higher; moving sideways 10:00 PM near the resistance level of 2698.25 Odds are for a sideways-to-up day – watch for break above 2698.75 and break below 2691.00 for change of fortunes Key economic data due: ISM Manufacturing PMI (est. 58.3) at 10:00 AM FOMC Meeting Minutes at 2:00 PM Markets Around The World Markets…

Morning Notes – Tuesday January 2, 2018

Directional Bias For The Day: S&P Futures are higher; moving higher since 5:00 AM Daily trend is up but the past few day’s price action is putting pressure down; break below Friday’s close is critical Odds are for an up day but  sideways-to-down move from pre open levels – watch for break above 2686.50 and break below 2680.75…