Category: Market Analysis

The Day Ahead 2016-06-28

The equity markets were due for a bounce and suspect most of it took place overnight. The follow-through in the day session should be relatively minimal, maybe ten SPX points higher over the open.

The Day Ahead 2016-06-27

US equity futures have been weak overnight but have held above the Thursday night Brexit voting low. Starting the day with a new low in S&P 500 cash is possible but lean toward a bounce before further continuation lower.

The Day Ahead 2016-06-24

Quite the fireworks last night on the Brexit results. Long term I think that will be a net benefit to the UK. I even have some concern that bears can keep the downward momentum going in the short term. Probably see a consolidation form today into Monday.

The Day Ahead 2016-06-23

There was a thrust up out of the consolidation pattern overnight in the equity futures such that SPX will open up into a new high over that of Monday. Since Brexit voting is taking place today, doubt there will be much market movement today, perhaps another five or six points over the NY open but […]

The Day Ahead 2016-06-22

Yesterday was as expected, a choppy consolidation with an up bias. Today will likely be the same.

The Day Ahead 2016-06-21

The market is still at the mercy of Brexit polling. According to the Financial Times it is pretty even at the moment. We also have the Yellen testimony at 10am EDT that could be a wildcard. Absent any surprises, expect choppy range bound trade with a modest higher bias.

The Day Ahead 2016-06-20

The market is buoyant on prospects of the status quo being unchanged. Expect the indices to have a positive bias today though an initial pause in the morning would be welcome.

The Day Ahead 2016-06-17

Today is a quad expiry which often makes for dull trading. Yesterday did finally come through with the move I originally was shopping for but threw me off initially by being weaker than expected right of the open. Closing out the week consolidating in this area makes perfect sense to me.

The Day Ahead 2016-06-16

Note: revised SPX which had a typo The FOMC decision was as most expected, no change. Now what? The UK referendum next week on whether or not to remain in the EU is probably the next news item that grabs the attention of traders. The equity markets bouncing into Friday or Monday as a way […]

The Day Ahead 2016-06-15

FOMC statement at 14:00 EDT followed by a press conference at 14:30 EDT which has a Q&A session that starts approximately 15 minutes into the press conference, all of which can cause sharp moves in the markets. My best guess is that they will not raise today but hint strongly that they will next month. […]