Directional Bias For The Day: The bias is to the up side The 30-minute chart of S&P 500 futures is trending above a uptrend line and is still showing breakouts above many bullish flags for the past few days Critical support levels for S&P 500 are 2152.42 and 2146.21 Critical resistance levels for S&P 500 are 2167.42 and 2175.00 ; Early morning futures price action…
Directional Bias For The Day: The bias is to the up side The 30-minute chart of S&P 500 futures is showing many breakouts above bullish flags for the past few days Critical support levels for S&P 500 are 2145.45 and 2136.62 Critical resistance levels for S&P 500 are 2158.53 and 2164.91; Early morning futures price action is to the upside – at…
Directional Bias For The Day: The bias is to the up side On 30-minute chart, S&P 500 futures broke above a symmetric triangle on Monday and so far the price has stayed above it after a brief decline to test the breakout level Critical support levels for S&P 500 are 2128.75 and 2122.50 Critical resistance levels for S&P 500 are 2148.79 and…
Directional Bias For The Day: The bias is to the up side On 30-minute chart, S&P 500 futures is within a symmetric triangle near the all time high S&P Critical support levels for S&P 500 are 2113.00 and 2106.97 Critical resistance levels for S&P 500 are 2134.72 and 2147.60; Early morning futures price action is to the upside – S&P Futures…
Directional Bias For The Day: The bias is to the up side The joker in the deck is the Non-Farm Payroll report, which may change the complexion of the market On 30-minute chart, S&P 500 futures is within the upper range of a rectangle trading box, after bouncing off the support; the rectangle is within another bigger rectangle…
Directional Bias For The Day: The bias is to the up side, with a strong possibility of a range-bound day On 30-minute chart, S&P 500 futures is within a rectangle trading box Critical support levels for S&P 500 are 2094.60 and 2090.72 Critical resistance levels for S&P 500 are 2103.04 and 2108.71; Early morning futures price action is indecisive Before…
The U.S. Non-Manufacturing PMI report came out at 10:00 AM and that changed the market trajectory. The reading of 56.5 was above the forecast of 53.3 and better than last month’s reading. After toping 60.3 in August 2015, the PMI is on a downward trend but still above 50 which indicates expansion. Before the report…
Rectangle Trading Box A rectangle trading range is emerging on 6-minute char of S&P 500 futures. The high is bounded by 2084.50-2085.75 reached at 4:54 PM on Tuesday and at 3:24 AM on Wednesday. The low is bounded by 2067.50-2066.75 reached at 10:42 PM on Tuesday and 7:00 AM on Wednesday. Directional Bias For The…
Divergence Just before 9:00 AM, the S&P 500 futures are showing a divergence. The MACD (3, 10, 16) – the 3/10 Indicator made popular by Linda Bradford Raschke – made a low at 3:12 AM when the price was at 2086.00. The price made lower lows at 4:42 AM and 8:00 AM but the MACD…
Directional Bias For The Day: The bias is to the upside, albeit, modestly Critical resistance levels for S&P 500 are 2113.32 and 2118.23; Critical support levels for S&P 500 are 2089.27 and 2070.00 Early morning futures price action is indecisive. Before NYSE Session Open After witnessing the past three days’ market action, it seems that the…
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