Category: Market Analysis

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.

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.

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.

The Day Ahead 2017-05-15

Perhaps we can get a new high in the SPX this week. Big picture, same as before, either we are working on ‘b of (iv)’ or wave (iii) with (iv) to follow.

The Day Ahead 2017-05-12

The market action over the last several days has been annoying but hesitate to say the market has topped out just yet.

The Day Ahead 2017-05-11

The S&P 500 is still having trouble poking back above 2400 but have to let them try again today. With any luck they finally push to a new high early next week.

The Day Ahead 2017-05-10

The last ditch support for hopes for a new high in SPX is 2392 was tested late in the day yesterday. Important that they rally off that number today to get that one last high that will knock at a few early bears and may finally exhaust the advance.