Directional Bias for the Day: S&P Futures are lower. Moving within a descending triangle. Odds are for a down day with elevated volatility. Watch for a break above 5761.00 for a change of sentiment. The notable economic data due during the day: Unemployment Claims (224K vs. 225K est.; prev. 225K) at 8:30 AM. Final GDP…
Directional Bias for the Day: S&P Futures are a little higher. Moving within a range since 9:45 AM on Tuesday between 5689.50 and 5650.75 ahead of the FOMC statement and press conference at 2:30 PM. Odds are for a sideways day until 2:00 PM. The volatility will increase after that. Watch for a break above…
Directional Bias for the Day: S&P Futures are lower. Breaking below a range between 5724.00 and 5705.00. Odds are for a down day with elevated volatility and a good chance of moving sideways from the pre-open level around 5710.00. The notable economic data due during the day: Building Permits (1.46M vs. 1.45M est.; prev. 1.47M)…
Directional Bias for the Day: S&P Futures are little changed after rising following the PPI report at 8:30 AM. They were down more than 25 points before the report. Odds are for a sideways to down day with elevated volatility. The critical resistance level is 5609.75, and the critical support level is 5559.25. The notable…
Directional Bias for the Day: S&P Futures are higher. They have been moving higher since 3:00 AM after a sideways move. They are up more than 100 points since the start of the European session. The futures shot up following the CPI report at 8:30 AM. Odds are for an up day with elevated volatility.…
Directional Bias for the Day: S&P Futures are higher. They are moving higher after breaking below the NYSE session low in the Asian session. Up more than 90 points from the lows of 5558.00 at 9:00 PM. Odds are for an up day with elevated volatility. The critical support levels are 5627.50, 5615.50, and 5584.50.…
Directional Bias for the Day: S&P Futures are lower. Down more than 60 points since the start of the European session. Odds are for a down day with increased volatility. The critical resistance levels are 5723.25, 5731.50, and 5757.75. No notable economic data is due during the day. Weekly: Correction Daily: Correction 120-Min: Down 30-Min:…
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…
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