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The Day Ahead 2017-09-01

I imagine that the bulk of trading opportunity takes place in the first 90 minutes today as Monday is a holiday in the US and traders leave early to take advantage of the last long weekend of the summer. Note: Added SPX chart

The Day Ahead 2017-08-31

The S&P 500 appears to be taking the rally into the end of the week path. It can either a part of a corrective move up that will take the market lower into the first week or two of next month or a larger drawn out triangle.

The Day Ahead 2017-08-30

It is not clear whether the S&P 500 intends to run up into the end of the week or push down toward the major support on either side of 2400 SPX.

The Day Ahead 2017-08-29

The S&P futures are down from North Korean jitters overnight. It is probably best to maintain a bearish bias today. If the 10am news doesn’t bounce the market, we have a chance to fall into the primary target zone of 2400 SPX +/-10 points by the end of the week.

Natural Gas (via UNG) 2017-08-28

Updated weekly chart but very little change from the earlier post here which you should read as a reminder of the possibilities.

The Day Ahead 2017-08-28

The main event this week is the NFP on Friday followed by consumer confidence Tuesday. Today however is pretty light on the economic calendar front which probably means a relatively small range today with a slight up bias in the S&P 500.

Consumer Discetionary ETF (XLY) 2017-08-26

I know that I just posted these last week but made slight changes to the targets on the weekly chart and think that the broader market is on the same path, closing in on a summer low.

The Day Ahead 2017-08-25

Central bankers are at the fore today with Yellen speaking at 10:00 and Draghi at 15:00. The S&P 500 futures are bouncing out of support overnight. Expecting a range bound day until they hear what transpires at Jackson Hole.

The Day Ahead 2017-08-24

I’m treating the rise in the S&P 500 up from the August 21st low as a corrective glue wave that will eventually press lower to test one of the supports that exist just above or just under 2400.

The Day Ahead 2017-08-23

The S&P 500 bounced higher than I expected yesterday but I’m not quite sold on the idea that the correction down from the August 8th high is complete.