The Day Ahead: AM Edition 2019-12-09

Bias is lower in bonds while under 159^07 to test 156^31 or 156^13. Crude fell back away 59.54 but is trying to hold 58.58. Bears need under 57.63 to get the ball rolling. Euro bouncing from 1.1053 but doubt it really moves much before Wednesday afternoon. Have a...

S&P 500 Midday Update 2019-12-05

SPX fell away from resist this morning but then began hugging the moving averages post 10:30. Can probably treat the escape of the range as a type of breakout trade that either takes the market lower toward 3088 or higher toward 3134. You must be logged in as a Daily...

The Day Ahead: PM Edition 2019-12-04

Bonds could not poke over the high from yesterday to test 161^02, but instead fell back to test the daily moving averages. Could wave [Y] of b be complete? Yes, technically the form is good enough at this point. From a practical standpoint, probably should look for confirmation such as a drop under the moving averages before getting too excited about a reversal.

S&P 500 Midday Update 2019-12-04

SPX reached resist quickly this morning and has been stalled for a few hours. I think bears have a chance to take the first step and drop under 3112 and test 3108 or 3102. 3102 will be the true test for bears, to continue selling to get some momentum lower started for...

The Day Ahead: PM Edition 2019-12-03

I’ve changed my count in bonds to better reflect what is happening at the moment. This strong move in response to support at 157^06 implies the ‘b’ wave is incomplete and I have penciled it in as at 3-3-3 type correction. Next resist at 161^02.

S&P 500 Update 2019-12-03

The overall theme for the day is on trace where SPX pushed for the main number target of the day 3080, and went on to the next at 3069. I'd like to see another press lower late in the day from 3091 so as to work on a new swing low tomorrow or Thursday in […]...