Directional Bias For The Day: S&P Futures are lower; moving up since 2:00 AM from 2781.75; moving sideways to higher since 3:45 AM Odds are for a sideways to an up day – watch for break below 2785.50 for change of fortune Key economic data due: Advanced GDP (2.6% vs. 2.2% est.; 3.4% prev.) at 8:30 AM Advanced GDP Price Index…
Directional Bias For The Day: S&P Futures are lower; broke below a Double Top after NYSE close; tracing an up-sloping flag since 4:00 AM Odds are for a down day – watch for break above 2793.25 for change of fortune No Key economic data due: Sentiment & Catalyst Rick-off mood Markets Around The World Markets in the East closed mixed…
Directional Bias For The Day: S&P Futures are lower; moved down from a high of 2814.00 at 11:00 AM on Monday to 2783.25 by 9:30 AM; Moving up since 9:30 PM and forming an up-sloping flag, a break below it would be bearish Odds are for a down day – watch for break above 2793.25 for change of fortune Key economic…
Directional Bias For The Day: S&P Futures are higher; moving up since 3:30 PM on Thursday Odds are for an up day – watch for break below 2794.50 for change of fortune Key economic data due: Final Wholesale Inventories (est. 0.3%; prev. 0.3%) at 10:00 AM Sentiment & Catalyst Risk-on mood since the weekend when signs of trade-tariff…
Intermarket US Dollar ($USD) has been mostly rising since early February 2018 (Chart 1) after making a low of 88.15. On relative basis, the Dollar Index is out-performing Reuters/Jefferies CRB Index (Chart 2). U.S. Treasury Bonds ($USB) have been mostly declining since June 2017 from a high of 176.06 but since October 2018, they have been staging a rally, after…
S&P 500 Current Trend: Confirmed Uptrend Monthly Up-sloping channel; at the median of a regression channel RSI made a Bearish Divergence in September 2018 and is below a downtrend line since Weekly Potential emergence of Arthur Merrill’s W7 or W11 or W12 wave patterns RSI-9 made a Bearish Divergence on 17-Sep-18; trying to break above a downtrend line; coming…
Directional Bias For The Day: S&P Futures are higher; drifting down since 6:30 AM after making a high of 2787.75; Daily is flashing signs of topping; finding resistance on 30-minute timeframe and 15-minute chart is showing Stochastic Bearish Divergence Odds are for a sideways to a down day – watch for break above 2787.75 and below 2780.25…
Directional Bias For The Day: S&P Futures are lower; moving lower since 10:30 PM on Wednesday; Futures fallen back in the ascending triangle that it broke above on Wednesday night Odds are for a sideways to an up day – watch for break above 2791.00 and below 2773.75 for clarity Key economic data due: Core Durable Goods (0.1%…
Directional Bias For The Day: S&P Futures are lower; moving sideways since 4:00 PM on Tuesday; Odds are for a sideways to an up day – watch for break above 2782.25 and below 2766.00 for clarity Key economic data due: FOMC meeting minutes at 2:00 PM Sentiment & Catalyst No discernible sentiment moving catalyst Markets Around The World Markets in…
Directional Bias For The Day: S&P Futures are lower; moving down since 4:00 AM; Odds are for a sideways to up day – watch for break above 2771.25 and below 2766.75 for clarity No Key economic data due: Sentiment & Catalyst No discernible sentiment Markets Around The World Markets in the East closed mixed- Shanghai, Tokyo and Sydney closed up; Hong Kong,…
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