But first, our usual look at the hourly bar chart of the ES S&P fuguetures. It’s still in that launch paddy looking setup, 1 day after a 5 day cycle low was due. If this doesn’t launch today, then we’re stuck in a flat up phase, which is more likel…
Today is a national holiday in France, celebrating the Allied victory over the Nazis in WW2. So we won’t see any tape action until New York traders start actively trading in about 2 hours at about 8 AM. At that point we’re looking at a trend convergen…
5 hour bars on the ES 24 hour S&P futures show the market to be extended here to the level where previous minor tops have formed. The market has also reached a major resistance area.
So where to from here? Straight down today? Lately the…
List performance came back to earth last week after 3 months of strong gains. Including picks still open at the end of the week, plus…
More proof is needed before we can relax in the view that a 6-month cycle up phase has begun. A strong up day could get…
The ES, 24 hour S&P futures is crawling up along an uptrend channel line this morning. The line runs from 5140 at 8 AM ET to around 5170 at the NY close. They’d need to break that for starters to even think about starting a top pattern. Otherwise, …
Forget the modest increase in jobs reported by the BLS. Withholding tax collections were strong in April. The US Treasury is flush with more cash…
Powell is a dove. That was likely settled for good Wednesday. There was justification for market expectations of a more hawkish FOMC and Chair. Inflation has been sticky, and the current trajectory unclear. It’s a leap of faith today to believe inflation is moving to the Fed’s 2% target.
Ahead of Apple’s latest earnings report, the company found itself in an unfamiliar situation. While shareholders, investors and analysts usually expect nothing but the best from arguably the most successful company of the past decade, expectations were…
Gold is due for a rally, but not much more. Yet. And that’s ok. Non-subscribers click here for access. Subscribers, click here to download the report.…