Directional Bias For The Day: S&P Futures are moving up since bottoming just before Asian session open Breaking above a triple top or horizontal channel; the target will be near 2481.00 Awaiting Non-Farm Payroll Report at 8:30 AM, which will have significant impact on early morning session trade Odds are for an up day – watch for break below 2472.75 for a change…
Directional Bias For The Day: S&P Futures are little changed to down In the middle of a symmetric triangle on 30-min chart Odds are for sideways to down day – watch for break above 2474.75 for a change of fortunes Key economic data due: BOE Bank Rate and Press Conference Unemployment Claims (est. 242K) at 8:30 AM ISM Non-Manufacturing PMI (est. 56.9) at 10:00…
Monthly Chart Analysis Current Status: Last Update on Tuesday August 01, 2017 Current Trend: Confirmed Uptrend Last Pattern: Double Bottom (or horizontal Channel) (broken out in July 2016) Previous Pattern: Rectangle (broken in Apr-13) Current Streak: 4 Up months Last Six Months 5 Up months Last High 2484.04 (Jul-17) High Month Low Month Last Swing 2193.81 Aug-16 2083.79…
Directional Bias For The Day: S&P Futures are higher Off the high of 2476.00 reached at 6:30 AM At the uptrend line from July 27 lows Odds are for sideways day – watch for break above 2476.00 or below 2471.25 for a change of fortunes Key economic data due: ADP Non-Farm Employment Change (est. 187K) at 8:15 AM Markets Around The World Markets in the…
Directional Bias For The Day: S&P Futures are higher Off the high of 2477.25 reached at 4:30 AM Moving up in an up-sloping channel since 1:30 AM on July 27 Odds are for an up day – watch for break below 2471.25 for a change of fortunes Key economic data due: Core PCE Price Index (0.1% vs. 0.1% est.) at 8:30 AM Personal…
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