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The Day Ahead 2017-04-04

Not sure what to think of the drop in SPX yesterday. It may have been a wave ii though it was just short of better wave ii targets. It may be good enough though think it best to assume an attempt lower this morning before a rally attempt.

The Day Ahead 2017-04-03

The S&P 500 (SPX) is having a tough time with the 2372 area but I still think there will be an eventual break and push to at least the next zone at 2386. There may be a couple points of drop in the morning but watch for morning support holding and a renewed assault on […]

The Day Ahead 2017-03-31

The possibility of a modest pullback in the S&P 500 remains, especially while under 2372 SPX. If that zone is exceeded, expect a rise to 2386 SPX or higher.

The Day Ahead 2017-03-30

The equity indices are a pausing but think it best to assume there will be an eventual upside resolution though we should be prepared for early morning weakness.

The Day Ahead 2017-03-29

Nice steady rally yesterday suggests we are in a small wave iii that while it may have completed yesterday, it is best to assume the rally will extend into today before a more lengthy stall.

The Day Ahead 2017-03-28

Yesterday the market rose straight up from the geometric support, the median on the Schiff channel up from February 2106, near 2322 SPX yesterday. Some retrace of that move up should be expected today as the down trend from early this month has yet to be decisively broken. Since the advance from the low yesterday […]

The Day Ahead 2017-03-27

Equity futures started the week lower Sunday night and that has continued into the early morning today. The late day bounce last Friday appears to have been a small wave ii which resulted in a push lower in iii overnight. The question is if that wave iii is complete. While it looks like it may […]

Crude Oil 2017-03-26

Crude has spent this month falling away from geometric resist and may leak lower yet over the next week or two but is running out of time for this segment of the down leg.

S&P 500 (SPX) 2017-03-26

When you step back and look at the large structure, you can see a broad five wave move up from the 2009 low. That should mean we are in the last phase of the advance though this last leg, the one up from early last year, can extend.

The Day Ahead 2017-03-24

Yesterday the S&P 500 (SPX) reached the main goal for the day and sold off as news hit that the health care vote would be delayed till today. Expect headlines around the health care vote to be the main catalyst today. Good news can drive SPX to 2366, bad news down to 2331.