Latest Posts

US 30 Year Bond futures 2017-05-28

In the bigger picture, we have been expecting a net bounce in bonds since the end of last year into late spring or early summer to which the market has obliged with a choppy bounce thus far. Now we are at a point where either bonds come back under pressure or extend their bounce into […]

The Day Ahead 2017-05-26

SPX started of with a gap up and creeped up the rest of the day. Will probably open near support this morning and probably best to allow it to try to make yet another high though I am open to a failure on this attempt.

The Day Ahead 2017-05-25

The S&P 500 was trapped in a tight range yesterday waiting for the FOMC statement, and even then, was relatively muted afterward. Overnight had a move up in futures, so does that mean a continuation higher today? I am not that enthusiastic about that idea but it would be best for the market to try […]

The Day Ahead 2017-05-24

The S&P 500 continued to climb to close the overhead gap yesterday. While higher can’t be ruled out, best to assume an attempt at a pullback.

The Day Ahead 2017-05-23

The S&P 500 is close enough to the gap that it is difficult to imagine that it is not filled.

US 30 Year Bond futures 2017-05-22

Bonds stalling against 154^07 which is certainly promising but need 152^29 to fail before becoming too excited.

The Day Ahead 2017-05-22

The S&P 500 has proven to be quite resilient which is why I put forth the idea that the wave (iv) has been set and now is rising, perhaps in a time wasting ending diagonal, into the next FOMC meeting June 13th and 14th.

Natural gas via (UNG) 2017-05-19

When I last posted on UNG, we were looking for lower into the daily cycle low and a weekly inflection. Prices have consolidated since then but have failed to pullback much. This behavior can be setting up a strong move higher over the next month or so if the weekly cycle manifests as a inversion.

S&P 500 (SPX) Update

The fairly persistent rise up off the 2357 SPX low yesterday and lack of selling today opens the door to the low being of greater import than a mere first impulse down, that it may in fact terminated the corrective formation we have been in since March.

The Day Ahead 2017-05-19

The market took the alternate path, recovering 2357 SPX early in the morning negating the immediate bearish path and testing both of the resistance zones later in the day, 2368 and 2375. I’d like to see the market kick in lower again but can’t rule out testing 2375 or slightly higher first.