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The Day Ahead 2016-07-28

The FOMC statement was not dovish enough to force a rally but neither hawkish enough to start a selling cascade. While I think there are plenty of things that can go wrong, short term have to have an upward bias. Crude traders should prepare themselves for a corrective bounce up to take place soon.

The Day Ahead 2016-07-27

The main event today is the FOMC statement at 14:00. Expecting a dull morning trade with an up bias till the statement hits the wires.

Crude Oil 2016-07-27

Crude should be about a third of the way to what should be a significant low late this year or early next.

Apple 2016-07-26

While it is possible that Apple has formed a corrective formation from the last swan dive lower, there is still room for it to bounce a little higher before attempting a serious press down.

The Day Ahead 2016-07-26

There may be some market movement with the 10am news but should have low expectations a day ahead of the FOMC. I’d love to see SPX modestly lower into tomorrow but the low from yesterday may be it.

The Day Ahead 2016-07-25

Today is a slow news day such suspect there is little reason for the market to rise much more today, but instead think there is reasonable chance that some of the Friday gains are eroded.

Euro Stoxx 50 futures 2016-07-23

The Estoxx 50 appears to be working on a corrective move up from the February low.

The Day Ahead 2016-07-22

The consolidation that has been due in the SPX appear to be underway.

Dax futures 2016-07-21

The DAX has room to push modestly higher over the next few weeks before it runs into a zone of resist that may set another lower high. Here is a simplified monthly chart for perspective.

The Day Ahead 2016-07-21

I know I am being stubborn but the equity market can really use a rest before attempting higher later. And since I bring up being stubborn, crude oil would look better lower before attempting a bounce.