Latest Posts

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.

Natural gas via (UNG) 2017-05-19

When I last posted on UNG, we were looking for lower into the daily cycle low and a weekly inflection. Prices have consolidated since then but have failed to pullback much. This behavior can be setting up a strong move higher over the next month or so if the weekly cycle manifests as a inversion.

S&P 500 (SPX) Update

The fairly persistent rise up off the 2357 SPX low yesterday and lack of selling today opens the door to the low being of greater import than a mere first impulse down, that it may in fact terminated the corrective formation we have been in since March.

The Day Ahead 2017-05-19

The market took the alternate path, recovering 2357 SPX early in the morning negating the immediate bearish path and testing both of the resistance zones later in the day, 2368 and 2375. I’d like to see the market kick in lower again but can’t rule out testing 2375 or slightly higher first.

The Day Ahead 2017-05-18

The equity market had a tough day yesterday and can have another today if the spend any time under 2357 SPX.

Dollar Index 2017-05-17

The Dollar has been dropping but think it is too soon to declare the dollar rally up from the 2016 low to be over.

The Day Ahead 2017-05-17

We finally get a break under the hourly moving averages which may result in net lower prices for at least a couple weeks.

The Day Ahead 2017-05-16

Yesterday a new high on a closing basis in the S&P 500. A quick little blow-off of 10 points or so would be nice just to clear stops but can’t rule out a sloppy topping formation.

Wheat futures 2017-05-15

I’ve had a request to look at grains and have been dragging my feet about it because I don’t have a strong opinion on the EW structure. Short term looks weaker but perhaps not much so and worth watching for a drop to a new low and an attempt to reverse.