Directional Bias for the Day: 9:10 AM Update. The futures have been declining after jumping more than 50 points in the first minute following the non-farm payroll report. They are down more than 60 points since the initial jump. The outlook for the day has turned decidedly negative. S&P Futures jumped up after the Non-Farm…
Directional Bias for the Day: S&P Futures are lower but have been bouncing off a low of 5769.25 at 8:30 AM. Odds are for a down day with increased volatility and a good chance of an up move from the pre-open lows. The critical resistance levels are 5797.75, 5813.50, and 5830.75. The notable economic data…
Directional Bias for the Day: S&P Futures are a little higher. They have been declining since 4:45 AM–down more than 50 points from the high of 5845.00. Broke below a trading range at 6:45 AM–the 61.8% extension target around 5788.00 is achieved. The 100% extension target is around 5776.00, and the 161.8% extension target is…
Directional Bias for the Day: S&P Futures are lower. They have been declining since 3:45 AM–down more than 60 points from the high of 5878.00. Odds are for a down day with increased volatility. Watch for a break above 5835.75 and a break above 5847.00. No notable economic data is due during the day. Weekly:…
Directional Bias for the Day: S&P Futures are higher. The futures have been moving higher since 7:30 PM on Sunday–up more than 50 points. The futures have retreated from the high around 6000.00 at 7:00 AM. Odds are for an up day with increased volatility and a good chance of a sideways to down move…
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