Category: Market Analysis

The Day Ahead 2017-10-20

The drop in the S&P 500 yesterday was yet another buy the dip moment contra to my expectation. I wasn’t expecting anything particularly dire at this point, but thought the day would be a consolidation. I am not yet convinced we have a green light to push the SPX into the 2581-2588 range though that […]

The Day Ahead 2017-10-19

Equity futures are down overnight. We will see if they can finally get the wave (iv) correction started.

The Day Ahead 2017-10-18

More of the same that has taken place over the last two weeks. The S&P 500 flirts with a new high and falls back to test intraday support and spends the rest of the day attempting to recover. All that taking place in a pretty tight range. The market certainly is less than enthusiastic about […]

The Day Ahead 2017-10-17

In response to a question in chat yesterday afternoon, I have marked on the S&P 500 chart projections from the last two major corrections, one that ran from late March into mid May, and from late August. Both have some convergence in the 2558-2559 SPX zone. If they plan to squeeze past here, which they […]

The Day Ahead 2017-10-16

2555 SPX has been difficult resistance for the market to overcome as there have only been brief pokes over in about two weeks. In general I see closes under 2555 as negative but the market has yet to fall away from this zone. Thus, have to allow for the next resist at 2559 to be […]

The Day Ahead 2017-10-13

Yesterday the S&P 500 refused to breakout higher or lower. As I type, S&P 500 futures are up against the series of highs from the last few days. Have to assume that there is a break higher of at least a few points.

The Day Ahead 2017-10-12

The equity market was nonplused over the FOMC minutes yesterday as the S&P 500 eeked out a new high. Still think the 2555 to 2559 SPX area should be formidable resistance.

The Day Ahead 2017-10-11 part 1

Markets will be fixated on reading the tea leaves from the FOMC later today at 14:00. Until then, expecting a listless trading environment.

The Day Ahead 2017-10-10

While certainly nervous about looking higher short term in the equity indices, I think S&P tries to poke above the high of last Friday by a few points. Perhaps the market makes that push today and pauses ahead of the FOMC minutes tomorrow afternoon.

The Day Aheadd 2017-10-09

Probably a slow day as today is Columbus Day in the US and Thanksgiving in Canada with banks closed but with markets open.