Latest Posts

iShares MSCI Italy ETF 2017-05-29

The formation for the last eight years has been that of a sideways converging pattern, a potential triangle. We initially started following this last year talking about the possibility of [d] of the triangle being set and to prepare for a bounce up into first quarter of this year. A relatively more recent update talked […]

Crude Oil 2017-05-29

Crude has been stuck in a range for just over a year. I’m skeptical that the crude low has been set but in the bigger picture we should be in the endgame now. Any new low into the end of this year is good enough. Could this be a broad basing pattern? Perhaps, will consider […]

Copper futures 2017-05-29

The copper bounce up from early 2016 has stalled out at the top of a channel and leaking lower for the past few months. I am working under the assumption that February 2017 is the end of a correction and now in the early stages of a decline to what will eventually be a new […]

US 30 Year Bond futures 2017-05-28

In the bigger picture, we have been expecting a net bounce in bonds since the end of last year into late spring or early summer to which the market has obliged with a choppy bounce thus far. Now we are at a point where either bonds come back under pressure or extend their bounce into […]

The Day Ahead 2017-05-26

SPX started of with a gap up and creeped up the rest of the day. Will probably open near support this morning and probably best to allow it to try to make yet another high though I am open to a failure on this attempt.

The Day Ahead 2017-05-25

The S&P 500 was trapped in a tight range yesterday waiting for the FOMC statement, and even then, was relatively muted afterward. Overnight had a move up in futures, so does that mean a continuation higher today? I am not that enthusiastic about that idea but it would be best for the market to try […]

The Day Ahead 2017-05-24

The S&P 500 continued to climb to close the overhead gap yesterday. While higher can’t be ruled out, best to assume an attempt at a pullback.

The Day Ahead 2017-05-23

The S&P 500 is close enough to the gap that it is difficult to imagine that it is not filled.

US 30 Year Bond futures 2017-05-22

Bonds stalling against 154^07 which is certainly promising but need 152^29 to fail before becoming too excited.

The Day Ahead 2017-05-22

The S&P 500 has proven to be quite resilient which is why I put forth the idea that the wave (iv) has been set and now is rising, perhaps in a time wasting ending diagonal, into the next FOMC meeting June 13th and 14th.