Directional Bias For The Day: S&P Futures are higher; sideways to down 6:00 PM after gapping up more than 30 points from 5:00 PM close; The odds are for an up day with elevated volatility – watch for break below 2831.00 for change of sentiments Key economic data due: CB Leading Index ( -7.1% est.;…
Gold is Shining Again Gold is on the rise. There are many fundamental factors that are favoring it. The US Dollar is soft, the Coronavirus pandemic has ignited the fears of a global economic recession and the global interest rates are low. No wonder gold is trying to reclaim its previous high levels. Technical charts…
Directional Bias For The Day: S&P Futures are higher; declining since making a high of 2806.25 of 2:30 AM to near 2775.00 The odds are for a down to sideways day with elevated volatility – watch for break above 2794.75 for change of fortune Key economic data due: Unemployment Claims ( 5350K est.; prev. 6606K)…
Directional Bias For The Day: S&P Futures are lower; The odds are for a down day with elevated volatility – watch for break above 2795.00 for change of fortune Key economic data due: Retail Sales ( -8.7% vs. -8.0% est.; prev. -0.4%) at 8:30 AM Core Retail Sales ( -4.5% vs. -4.9% est.; prev. -0.4%)…
Broadening Pattern Dow Jones Industrial Average and S&P 500 are forming Broadening Pattern on weekly timeframes since January 2018. A broadening pattern is an inverse triangle bounded by two diverging trend line – one moving up and one moving down.Edwards and Magee wrote in their seminal book, Technical Analysis of Stock Trends: If the Symmetrical…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up to sideways day with elevated volatility – watch for break below 2752.00 for change of fortune A symmetrical triangle is emerging on 30-minute chart indicating indecision; break up or down will provide clarity Key economic data due: Earning season starts…
Directional Bias For The Day: S&P Futures are lower; European markets are closed due to Easter Monday The odds are for a sideways to an up day with elevated volatility – watch for break below 2752.25 for change of fortune No key economic data due: Directional Bias Before Open: Weekly: In Correction Daily: In Correction…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2727.50 for change of fortune Key economic data due: Fed 2.3T Loan Program Announcement Unemployment Claims (6606K vs. 5000K est.; prev. 6867K) at 8:30 AM Core PPI ( 0.2% vs. 0.0%…
Directional Bias For The Day: S&P Futures are higher; The odds are for a down to sideways day from pre-open levels; elevated volatility – watch for break above 2680.50 for change of fortune Key economic data due: FOMC Meeting Minutes Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min: Up-Side 30-Min: Up-Side 15-Min:…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day; high volatility – watch for break above 2745.00 and below 2705.00 for more clarity Key economic data due: JOLTS Jobs Openings (est. 6.55M; prev. 6.96M) at 10:00 AM Directional Bias Before Open: Weekly: In Correction Daily: In Correction 120-Min:…
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