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The Day Ahead 2017-04-25

Yesterday the S&P 500 retraced a modest amount early in the day to later advance to the first target range late in the day. Today, expecting a slow grind higher.

British Pound futures and ETF (FXB) 2017-04-24

I think an inflection in the major dollar cross rates is sneaking up on us either this next month or in June. Note: FXB weekly chart added

The Day Ahead 2017-04-24

In the chat late last Friday I mentioned that it looked like a setup for a gap up on Monday. The possibility of a new high into next week sounds less ridiculous now.

The Day Ahead 2017-04-21

The market is playing along with theme of holding up into the next FOMC meeting the first week of May. As to whether that will be a lower high or a new high to that of early March I don’t know as I can put forth arguments for both.

The Day Ahead 2017-04-20

The market stalled just short of the resistance range mentioned, SPX 2254, and dropped the rest of the day. Certainly a good job done by bears but bulls are not on the mat just yet. Overnight equity futures are up and over the hourly moving averages. We will see if they can hold most of […]

The Day Ahead 2017-04-19

So far the S&P 500 is following the script as it bounced up out of support yesterday. After moving a little higher we will see what they decide to do at the next decision point, either break over or resume selling, of which I expect the former.

The Day Ahead 2017-04-18

The market has been choppy keeping several paths open. Overall, I think they are trying to take the market up, either to a new high or lower high, into the next FOMC meeting that is two weeks away. The opposite is of course still possible but looks like a lower odds outcome. The good news […]

US 30yr bond futures daily 2017-04-17

I have the same reservations in here in bonds that I have in gold. While a little higher would be ideal, it is smart to begin taking action if one has been nursing long positions to lock in profits.

Gold futures 2017-04-17

The form would be improved with a consolidation and another push higher but anyone nursing a long gold position should be managing their position.

Dollar Index 2017-04-17

The dollar is continuing lower in the short term as expected. The reaction to the next support zone should help clarify which of the short term patterns is active.