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The Day Ahead 2016-09-26

The market is weak overnight and may even continue somewhat lower but should regain its footing and climb to challenge SPX 2200 or a bit more over the next couple weeks.

Russell 2000 via (IWM) 2016-09-25

The Russell 2000, and the corresponding ETF (IWM), have been lagging behind other US stock indices in making highs over that of last year. I see that as a bearish phenomenon as this was one of the darlings in the prior rallies.

The Day Ahead 2016-09-23

Today is probably similar to yesterday, subject to choppiness but with an upward bias in the stock indexes.

Gold futures 2016-09-22

I think it best to allow a deeper retrace up in gold if not a test of the high in July before turning lower.

The Day Ahead 2016-09-22

As expected, no rate hike yesterday. That sets the stage for SPX to eventually push over 2200 over the next couple weeks.

Nasdaq 100 (NDX) 2016-09-21

As I type this roughly an hour before the FOMC statement today, the big picture form in the Nasdaq could be considered complete but would look better with one last leg higher.

The Day Ahead 2016-09-21

Today the main events are the FOMC statement to be released at 14:00 and the press conference at 14:30. I lean to there not being a hike but the q&a in the press conference implying that it is very close. Till then, there probably will be few trade opportunities aside from perhaps testing the top […]

The Day Ahead 2016-09-20

The market went on to push higher in the morning yesterday as expected but then went on to test deep support. That doesn’t change the theme of higher into tomorrow and the equity index futures have been up overnight as would be expected if that was true. However, it is also possible that they remain […]

The Day Ahead 2016-09-19

Equity index futures are up overnight which is consistent with our expectation of a rise at least into Wednesday. Will be looking for those gains to tranfer and carry on into the day session today.

Gold futures 2016-09-18

Gold may have a small bounce but should be headed lower into the end of the year.