Directional Bias For The Day: S&P Futures are higher Moving up since 3:30 AM test of Wednesday’s last hour low of 2437.50 Near the upper limit of a horizontal channel; a break above will have target near 2460.00-to-2463.00; strong resistance near 2454.75 Odds are for an up day – watch for break below 2444.25 for a change of fortunes Key economic data due: Core Durable Goods…
Directional Bias For The Day: S&P Futures are higher Moving up since 6:30 PM on August 23 Odds are for an up day – watch for break below 2440.00 for a change of fortunes Key economic data due: Unemployment Claims (234K vs. 237K est.) at 8:30 AM Existing Home Sales (est. 5.55M) at 10:00 AM Mortgage Delinquencies at 10:00 AM Markets Around The World Markets in…
Directional Bias For The Day: S&P Futures are lower Moving down since 7:00 PM on August 22 Near the support, which was a broken resistance; near Fibonacci retracement levels Odds are for a down day – watch for break above 2447.75 for a change of fortunes Key economic data due: New Home Sales (est. 611K) at 10:00 AM Markets Around The World Markets in the East closed…
Directional Bias For The Day: S&P Futures are higher Moving higher since 10:00 AM on August 21 Near the upper limit of a horizontal channel since 4:00 PM on August 17 – high of 2434.00 and low of 2419.75 Odds are for an up day – watch for break below 2421.75 for a change of fortunes No Key economic data due: Markets Around The World Markets…
Directional Bias For The Day: S&P Futures are little changed Moving in a horizontal channel since 4:00 PM on August 17 – high of 2434.00 and low of 2419.75 Odds are for a sideways to an up day – watch for break below 2419.75 for a change of fortunes No Key economic data due: Markets Around The World Markets in the East closed mostly lower – Shanghai…
Directional Bias For The Day: S&P Futures are lower Were positive till 9:00 AM Moving in a horizontal channel – high of 2434.00 and low of 2423.75 – since NYSE close on August 17 Odds are for a down to sideways day – watch for break above 2434.00 for a change of fortunes Key economic data due: Prelim UoM Consumer Sentiment (est. 4.0) at…
Directional Bias For The Day: S&P Futures are lower Moving lower since 12:00 PM on August 16 with anew leg down at 3:00 AM Odds are for a down day – watch for break below 2468.50 for a change of fortunes Key economic data due: Unemployment Claims (232K vs. 240K est.) at 8:30 AM Philly Fed Manufacturing Index (18.9 vs. 18.3 est.) Capacity Utilization Rate (est.…
Directional Bias For The Day: S&P Futures are higher Moving higher since 2:00 AM after trading sideway from 10:00 AM on August 15 Odds are for a sideways to an up day – watch for break below 2461.00 for a change of fortunes Key economic data due: Building Permits (1.22M vs. 1.25M est.) at 8:30 AM Housing Starts (1.16M vs. 1.22M est.) at 8:30 AM FOMC Meeting…
The equity indices of most major nations in the world are trending up. Emerging Markets are doing better than developed market. Emerging Market Are Doing Better The Select Sector SPDR ETF, SPY, bottomed in February 2016 (Third Panel Chart 1). EFA, iShares MSCI EAFE ETF, bottomed few days later (First Panel Chart 1) and EEM,…
Directional Bias For The Day: S&P Futures are higher Uptrend since the low of 2430.25 at 7:30 AM on August 11; above 61.8% Fibonacci retracement Near resistance 2474.50, the high at 4:30 PM on August 9 Odds are for an up day – watch for break below 2461.00 for a change of fortunes Key economic data due: Retail Sales (est. 0.3%) and Core Retail Sales (est. 0.3%)…
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