Directional Bias For The Day: Futures are higher Moving sideways since 11:30 AM on May 30 – high 2414.50, low 2410.00 Odds are for a sideways to an up day; watch for break below 2407.75 for change of fortunes Key economic data: Chicago PMI (est. 57.0) at 9:45 AM Pending Home Sales (est. 0.7%) at 10:00 AM Markets Around The World Markets in the East were…
Directional Bias For The Day: Futures are lower Drifting lower after making a triple top near 2417.00 at 9:00 AM on May 29 – break below 2408.25 will complete the pattern Trading within a range since 9:00 PM on May 24 – high of 2417.75 and low of 2405.50 Odds are for a sideways to a down day; watch for break above…
Directional Bias For The Day: Futures are lower Drifting lower since 3:30 PM on May 25 Trading within a range since 9:00 PM on May 24 – high of 2417.75 and low of 2405.50 Odds are for a sideways to a down day; watch for break above 2417.75 for change of fortunes Key economic data: Core Durable Goods Order – -0.4% vs. 0.4%…
Directional Bias For The Day: Futures are higher Moving sideways since 9:30 PM on May 24 Odds are for a sideways to an up day; watch for break below 2403.25 for change of fortunes Key economic data: Unemployment Claims – 234K vs. 238K est. – at 8:30 AM Markets Around The World Markets in the East were higher European markets are mixed – Germany, U.K., Italy and STOXX 600 are down;…
Dollar Index The U.S. Dollar Index, DX #F, has been declining since January 2017 when it reached the highest level since 2003 (Chart 1). During 1990s, the index has risen from a low of 78.43, in 1992, to a high of121.90 in 2001. The up trend reversal occurred after a near triple bottom pattern – two other…
Directional Bias For The Day: Futures are higher Moving sideways since 4:00 AM on May 23 Odds are for a sideways day; watch for break above 2400.50 and break below 2392.00 for change of fortunes No Key economic data to be released Markets Around The World Markets in the East were mostly higher – Mumbai was down European markets are mostly lower…
A research paper by Ben Jacobsen and Cherry Y. Zhang of Massey University of New Zealand demonstrates that monthly seasonality effect is sample specific. They found that the strategy of ‘Sell in May and Go Away‘ beats the market more that 80% of times over -year horizons. Another aspect of this strategy is that during this time, bonds usually outperform…
Directional Bias For The Day: Futures are higher Moving sideways since 4:00 AM Odds are for a sideways to an up day; watch for break above 2397.75 and break below 2388.25 for change of fortunes No Key economic data to be released Markets Around The World Markets in the East were mostly lower – Hong Kong and Seoul were higher European markets are…
Directional Bias For The Day: Futures are higher Moving sideways since Friday’s close on 30-minute chart Odds are for an up day; watch for break below 2378.25 for change of fortunes No Key economic data to be released Markets Around The World Markets in the East were mostly higher – Shanghai was lower European markets are mostly lower – U.K. and Switzerland are higher;…
Directional Bias For The Day: Futures are higher Making a frying pan bottom since the high of 2375.0 at 2:30 PM on May 18 Break above Thursday high will be good for bulls Odds are for an up day; watch for break below 2361.00 for change of fortunes No Key economic data to be released Markets Around The World Markets in…
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