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The Day Ahead 2017-02-17

Note: Corrected typos with SPX supports Equity futures have weak this morning which likely means lower support must be tested before another rally attempt. Either the first support listed, which is just under the low from yesterday holds early in the morning sparking a rally, or it fails and leads to a deeper correction two […]

The Day Ahead 2017-02-16

The equity markets have been relentlessly marching higher for the last few days. Have to assume we will see a net rise into the March Fed meeting though a rest is due, probably next week. Note: Fixed typo in support on the intraday SPX chart

The Day Ahead 2017-02-15

Yellen will be testifying to congress again today at 10am. The second day remarks are almost always the same as before thus don’t expect a reaction right at 10am when they hit the newswires but an unexpected comment to questioning will be a wild card over the next several hours.

Crude Oil futures 2017-02-14

Remain skeptical about the low made in 2016 being the ultimate low but that doesn’t mean modestly higher first is impossible.

The Day Ahead 2017-02-14

The key event today will be the Yellen Humprey-Hawkins testimony at 10:00. Regardless of her perceived dovish or hawkish testimony, I think the equity market needs a retracement.

The Day Ahead 2017-02-13

S&P 500 was up on Friday though it did have a little more staying power than expected. Equity futures are up as I type thus should have an up bias early and but not thinking a runaway up day but one where most of the gain is early in the day.

Gold futures 2017-02-11

Note: Fixed typo on weekly alternate chart Gold has been performed well from the low late last year but should be due for a stall or retrace that should span three to five weeks. I am including charts, both monthly and weekly, that cover the two scenarios in gold that I favor, in some ways […]

The Day Ahead 2017-02-10

The market cooperated by moving higher yesterday in a steady fashion. Today, look for a modest continuation higher before going into the Friday doldrums.

The Day Ahead 2017-02-09

The equity indices followed the script yesterday with a modest morning low and a rise. Today, thinking higher but will come into contact with previous highs early which may take time to chew through.

The Day Ahead 2017-02-08

Equity indices did travel higher yesterday, though short of expectations, before retreating. Today, thinking a little lower to start the day but not by much before an attempt to rise again.