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Euro futures and Euro ETF 2017-07

The Euro moved up over first resist and now up against a deep retrace value and near a trend line.

US Treasury 30 year yield (TYX) 2017-07-01

Over the last two weeks the yield made a brief poke under the .382 retrace of the advance from a year ago and recovered it this week. I continue to think yields rise though it does have to break over some resistance just a little higher for confirmation.

The Day Ahead 2017-06-30

The market retreated yesterday at the open per plan but extended past supports finally breaking under a net sideways consolidation the S&P 500 has been in for nearly a month. The basic assumption is that market will eventually drop another 50 or so points under the low of yesterday but can bounce for a week […]

The Day Ahead 2017-06-29

The speed of the advance in the SPX yesterday caught me off guard. I was thinking there would be a couple hour consolidation before rising fairly steadily into the afternoon. Instead, there was a minor 30 minute consolidation and creep up the rest of the day. I didn’t respect the power of gap and go.

The Day Ahead 2017-06-28

The S&P 500 futures continued falling early this morning but have been bouncing for the last few hours. I suspect that bounce continues into the day session and manifests as a consolidation pattern today. After the somewhat sideways pattern forms, they will decide whether to save the market yet again or begin to break lower.

The Day Ahead 2017-06-27

The S&P 500 futures are starting off lower today but above some geometry and daily moving averages making lower a difficult proposition. I suppose there is an outside chance they drop before the New York open but is likely to start the day session above those areas.

The Day Ahead 2017-06-26

European stocks are dragging equity futures up this morning. They left the market in such a place that a gap was nearly certain today and they picked up. Thinking they open cash near the top of the range today but probably don’t see much in the way of pullback.

Copper futures 2017-06-24

I’m skeptical that copper has found a lasting low but has yet to drop impulsively from resistance tested earlier this year.

Dow timing exercise

I was playing with bar counts on a Dow monthly chart early this week. I find ratio relationship in time to be much weaker than in price but at times can be uncanny. We will see over the next few months if this is one of those circumstances.

The Day Ahead 2017-06-23

The pattern in the S&P 500 is still opaque. The overall price level it reached on June 19th is a decent enough place for a high but the pattern for a high is still questionable and hence have to keep the door open to the idea of higher if the market finds support above 2417. […]