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The Day Ahead 2017-03-24

Yesterday the S&P 500 (SPX) reached the main goal for the day and sold off as news hit that the health care vote would be delayed till today. Expect headlines around the health care vote to be the main catalyst today. Good news can drive SPX to 2366, bad news down to 2331.

The Day Ahead 2017-03-23

The S&P 500 (SPX) attempted to bounce yesterday but at this point it is not clear whether the bounce is a consolidation that leads to a new low or if the market advances higher. I know I’ve been harping on the bullish prospects but think it still is better to think about continued bounce or […]

The Day Ahead 2017-03-22

Note: Error in SPX 65min chart corrected Yesterday SPX failed to punch over the down trend and consequently sold all day. It is still an open question in my mind as to the degree of this correction. Regardless of the magnitude of the correction taking place, it makes sense to have a bit of bounce […]

The Day Ahead 2017-03-21

Yesterday was an interesting struggle between the bullish and bearish views as to how the next few days should play out and by the end of the day was still unresolved though bullish forces regained the upper hand late in the day.

The Day Ahead 2017-03-20

The market should be closing in on larger correction, they question is has it started or will it hold up for a few more days this week. The decision is likely to be made today. If the market fails to put in an effort to push up this morning, will have to look down to […]

Dollar Index and Dollar ETF (UUP) 2017-03-18

The dollar certainly can use a rest but think it unlikely the rise from 2016 is complete. There are two forms a consolidation can take, one being a triangle keeping the dollar in a relatively tight range for a couple months, and secondly, a deeper retracement that keeps the overall trend intact with a wave […]

The Day Ahead 2017-03-17

It is important for the short term bullish case that there be a push up out of the sideways move from yesterday lest the FOMC high turn into a lower high that drives the SPX lower in a larger scale correction.

The Day Ahead 2017-03-16

The equity market is staying on track, even in the face of a Fed hike, attempting to rise into a new high. An intraday consolidation is probably due soon though would like to see some follow-through higher this morning first. Note: The gold chart has been fixed

Understanding the Dollar rally gives traders an edge

March 2017 bulletin from Trading On The Mark

The Day Ahead 2017-03-15

Pretty persistent rise in the SPX out of the morning low yesterday that has trickled into today. The pattern looks positive to me but news can always run it over and we have the FOMC decision today along with dot plots and a press conference, thus plenty of things can go wrong.