Category: Market Analysis

The Day Ahead 2017-06-23

The pattern in the S&P 500 is still opaque. The overall price level it reached on June 19th is a decent enough place for a high but the pattern for a high is still questionable and hence have to keep the door open to the idea of higher if the market finds support above 2417. […]

The Day Ahead 2017-06-22

As you know, I’m getting pretty nervous about the S&P 500 in this area but it is still holding together and thus am forced to look for supports and expect it to creep higher.

The Day Ahead 2017-06-21

The S&P 500 has dropped enough yesterday to take away the hope of a new high in the very short term but not enough to rule it out over the next couple week. Yes, I think the ice is getting very, very thin, but we need more supports to break to be aggressively bearish.

The Day Ahead 2017-06-20

We probably see a consolidation of the most recent advance today in the S&P 500. It is getting close to the next target of note, 2458, perhaps it can reach that after a relatively small retrace.

The Day Ahead 2017-06-19

The US equity market is still holding after the FOMC meeting but I can’t be enthusiastic about the prospects for higher.

The Day Ahead 2017-06-16

Today is quad witching and while anything could happen, usually it is a dull day with any volatility pushed to the following Monday.

The Day Ahead 2017-06-15

The equity futures are down overnight but at a point that can attempt to hold. Thinking there will be a choppy bounce in the morning after which we will see if the bearish forces can press down again.

The Day Ahead 2017-06-14

And finally, the main event for the week, the FOMC decision and press conference. The plan has been a net rise up to today and the market has stayed to script. What comes next is murky. This could turn into the high of the year or a penultimate high. Which type of high is probably […]

The Day Ahead 2017-06-13

Today the S&P 500 should open just under resist. I suspect we see the SPX push a bit higher before attempting to move lower. Still think most markets are constrained till tomorrow afternoon.

The Day Ahead 2017-06-12

Friday was an odd day. The S&P 500 almost made it to 2447 after which it started to be dragged down by the FANG meltdown. The problem is that outside the tech high flyers, the rest of the market was holding if not positive. I still think the overall market is stuck until Wednesday afternoon. […]