17 hours ago, Takachi-1 said:It just seems like there is no consequence to this….. will it ever come to an end?
I must admit. The house is good at managing the games and making sure they win.
As for the rest of us, cannon fodder. But the smart money takes its cut.
Today, the ES has formed a range of 5925-5977, and looks set to run to the top of the range. Then what? If the hourly oscillators manage to turn up from the zero line, that would support a subsequent breakout. If they get stuck where they are, then the market should top out here and head back down.
Oscillators dropping below the zero line from current levels or near, would portend a price breakdown.
What does Alvin, of Alvin and the Chat Monks (aka ChatGPT) say?
Outlook for Today’s Market:
- Trend Analysis:
- The price seems to be oscillating within a defined channel. A breakout above the green channel resistance (near 5970-5980) could signal further upward momentum.
- Conversely, breaking below the lower bounds of the channel (near 5920-5940) may indicate bearish sentiment for the day.
- Key Levels to Watch:
- Support Levels: 5925, 5900, and 5880 are prominent support zones. If these levels are broken, it could lead to more selling pressure.
- Resistance Levels: The price is nearing the resistance zone around 5975-5990. A breakout above this area may trigger a rally toward 6025-6035.
- Indicator Overview:
- MACD: If it’s crossing above the signal line, it suggests bullish momentum. A downward cross may indicate weakening momentum.
- True Strength Index & Fisher: These oscillators can confirm overbought or Dover Sole conditions. If these indicators are turning up, it signals recovery; if down, they indicate caution.
- Volatility and Momentum:
- The Momentum indicator suggests the strength of recent moves. If it’s flat or declining, today’s moves might consolidate, whereas an uptick indicates strong price movement.
Suggested Approach:
- Monitor breakout or breakdown from the channel for directional cues.
- Utilize tight stop-losses due to the proximity of critical levels.
- Pay attention to macroeconomic data or news releases that may influence market behavior during the day.
I was curious to see his general take on market news. Interesting, concise summary from leading sources.
Alvin:
As of Friday, January 17, 2025, here are the key developments influencing today’s stock market:
Market Movements:
- U.S. Stock Futures: Futures indicate a positive opening, with bond yields declining. This follows a previous downturn led by technology stocks.
- Asian Markets: Mixed performance observed. China reported a 5% economic growth for 2024, meeting government targets but slowing from the previous year. Hong Kong’s Hang Seng and Shanghai Composite indices rose slightly, while Japan’s Nikkei 225 declined by 1%.
Corporate Highlights:
- Apple (AAPL): Shares rose 0.5% in premarket trading, rebounding from a 4% drop on Thursday due to losing market share in China.
- Qorvo (QRVO): Surged 7.4% after Starboard Value acquired a 7.7% stake, aiming for changes to improve share price.
- Rivian (RIVN): Increased 3.7% after securing a $6.6 billion loan from the Department of Energy to build a new manufacturing facility.
Economic Indicators:
- Inflation Data: The December consumer-price index showed prices rising 2.9% over the past 12 months, matching forecasts, while core prices were up by a slower-than-feared 3.2%. This led to a rally in both bonds and stocks.
- Earnings Reports: Major financial institutions like Goldman Sachs, JPMorgan, and Wells Fargo posted substantial profit increases, exceeding forecasts.
Regulatory Developments:
- SEC Rule Change: The Securities and Exchange Commission approved a rule change allowing stock prices to be quoted in increments of $0.005, effectively introducing half-cent pricing. This aims to reduce costs for investors by narrowing bid-ask spreads.
Investor Sentiment:
Despite recent declines in major indexes due to mixed earnings reports and economic data, underlying market strength remains, with several stocks showing buy signals. Investors are advised to monitor key levels and stay informed on macroeconomic data and corporate earnings reports.
Moron the markets:
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