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The Day Ahead 2017-02-24

We are finally seeing a consolidation forming as the equity indices are lower this morning.

The Day Ahead 2017-02-23

The S&P 500 (SPX) appears to have formed a triangle over the last few days and should lead to a fresh high today or tomorrow.

The Day Ahead 2017-02-22

S&P 500 futures have dropped lower early this morning such that there will be a modest gap down. Thinking the first move of the day is to fill the gap before attempting to test the early morning low.

The Day Ahead 2017-02-21

The equity markets should be due for a week or so of consolidation.

The Day Ahead 2017-02-17

Note: Corrected typos with SPX supports Equity futures have weak this morning which likely means lower support must be tested before another rally attempt. Either the first support listed, which is just under the low from yesterday holds early in the morning sparking a rally, or it fails and leads to a deeper correction two […]

The Day Ahead 2017-02-16

The equity markets have been relentlessly marching higher for the last few days. Have to assume we will see a net rise into the March Fed meeting though a rest is due, probably next week. Note: Fixed typo in support on the intraday SPX chart

The Day Ahead 2017-02-15

Yellen will be testifying to congress again today at 10am. The second day remarks are almost always the same as before thus don’t expect a reaction right at 10am when they hit the newswires but an unexpected comment to questioning will be a wild card over the next several hours.

Crude Oil futures 2017-02-14

Remain skeptical about the low made in 2016 being the ultimate low but that doesn’t mean modestly higher first is impossible.

The Day Ahead 2017-02-14

The key event today will be the Yellen Humprey-Hawkins testimony at 10:00. Regardless of her perceived dovish or hawkish testimony, I think the equity market needs a retracement.

The Day Ahead 2017-02-13

S&P 500 was up on Friday though it did have a little more staying power than expected. Equity futures are up as I type thus should have an up bias early and but not thinking a runaway up day but one where most of the gain is early in the day.