The market is playing along with theme of holding up into the next FOMC meeting the first week of May. As to whether that will be a lower high or a new high to that of early March I don’t know as I can put forth arguments for both.
The market stalled just short of the resistance range mentioned, SPX 2254, and dropped the rest of the day. Certainly a good job done by bears but bulls are not on the mat just yet. Overnight equity futures are up and over the hourly moving averages. We will see if they can hold most of […]
So far the S&P 500 is following the script as it bounced up out of support yesterday. After moving a little higher we will see what they decide to do at the next decision point, either break over or resume selling, of which I expect the former.
The market has been choppy keeping several paths open. Overall, I think they are trying to take the market up, either to a new high or lower high, into the next FOMC meeting that is two weeks away. The opposite is of course still possible but looks like a lower odds outcome. The good news […]
Crude will be rolling into June tomorrow thus advance my chart to the June contract. The dominant daily cycle should be peaking over the next few days which along with the contract roll may be putting in an ‘a’ wave high.
I include an intraday chart of one of the equity indices, usually SPX, in the morning day ahead post but am putting it here as a separate post as the best way to bring it to your attention. I had previously stated in the day ahead post that I just add more charts to it […]