The Day Ahead 2017-07-17

by | Jul 17, 2017 | Day ahead

Friday pushed the S&P 500 on to a new high. I'm treating this as a 'b' wave high though if it extends this week I will slide wave (iii) over from the June high to where the next swing high terminates. Backing up to the weekly line chart for a moment, calling this or...

The Day Ahead 2017-07-14

by | Jul 14, 2017 | Day ahead

The S&P 500 has been sneaking up on the June high and fair to expect it to continue in the short term but I just can't be enthusiastic about being long from this area. Crude staying on plan. Next step is to push up to test and surpass the last swing high. DX has been...

The Day Ahead 2017-07-13

by | Jul 13, 2017 | Day ahead

The second day of Yellen's Humphrey-Hawkins testimony takes place today which can be a wild card. For now, the equity market remains focused on Yellen's dovish comments and is testing the top of the recent trading range. Note: DX resists corrected I am not confident...

The Day Ahead 2017-07-12

by | Jul 12, 2017 | Day ahead

The market sees Yellen's prepared remarks as dovish and thus taking the equity futures up before the day session open. I had been considering a triangle 'b of (iv)' forming but that form is nullified now. The other option is higher is a 'b' wave which looks operative...