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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.

The Day Ahead 2017-10-06

The S&P 500 should be in the late stages of advance up off the August lows. One more down up sequence would make a better topping pattern but if the market breaks down under 2500 later this month, a more substantial correction can be starting.

The Day Ahead 2017-10-05

The siren call to reach 2550 SPX is so strong that the market will not form even a modest correction. My original idea was that the 2550 area would be saved for later but it is so close that they can easily hit it either today or tomorrow on the NFP data.

The Day Ahead 2017-10-04

I had been assuming an ending diagonal count in the S&P 500 up from the August 18th low but it is starting to look more like a 1-2-1-2 type count which means there is room for another down up sequence before a more substantial correction. I admit I am not very comfortable forecasting another ‘buy […]

The Day Ahead 2017-10-03

The equity markets had a morning stall but recovered into the close yesterday. Still looking for the S&P 500 to roll over this week. I’d like that to happen before the end of the week but we do have the NFP on Friday and thus may not get a serious break until then.

The Day Ahead 2017-10-02

The US equity markets should be close to taking a rest. Euro and gold down as expected though a bounce may appear soon. If crude is still bullish, it needs to hold in its current area.

iShares 20+ Treasury Bond ETF (TLT) 2017-10-01

As you would expect, the analysis here is very similar to that done on bond futures earlier. This looks like a wave (ii) bounce though it is too early to rule out another test of overhead resistance.

US 30 Year Bond futures 2017-09-30

The major theme in bonds for the last six months has been that we are in a wave (ii) bounce after the first major impulse down from the 2016 high. A break of the low of last month should be the first major confirmation that bonds are ready to turn down.

Russell 2000 via (IWM) update

The theme from when I posted these remains the same from about a week ago. I just added the next steps up in the charts to keep an I on.

The Day Ahead 2017-09-29

The equity markets have held up into the last day of the month and quarter. I expect a bumpy ride into the end of the year, the question at hand is do a few traders begin to take a little off table today or does it turn into a dull day with a small range? […]