Economy Although the Federal Reserve appears to be getting closer to raising interest rates, it isn’t likely to get there today when officials conclude a two-day policy meeting. Investors will still have plenty to watch, including a policy statement and … Continue reading
Gap lower in Monday’s Session lead to a test of 6/9 low zone between 2058 – 2062…Sharp bounce stalled hard at the 2078 handle, which we will mark as “key resistance”. Overnight night trade showing continued price weakness retesting prior … Continue reading
Economy Traders were greeted with a sea of red on Monday after debt discussions between Greece and its European creditors collapsed, pushing Athens closer to a debt default that threatens its future in the eurozone. With both sides refusing to … Continue reading
****Contract Rollover to September “U” for E-mini’s**** Early flurry of trade activity lead to an otherwise quiet trading session as Contract Rollover did indeed have the dampening effect anticipated in yesterday’s DTS 06.11.15. Quiet over night trade as price range … Continue reading
Outside Gap above prior high set the stage for strong momentum move eclipsing Average 3-Day Cycle Target as well as Extreme Penetration Levels. Buying forced some short covering early, but it wasn’t until key 2094.50 level was penetrated, along with … Continue reading
S&P e-mini (ES) found responsive buyers within the 2068 – 70 zone during early volatile trade action in Tuesday’s Session. This lead to rally which reached initial target 2083.00 outlined in Scenario 1 in prior Daily Trade Strategy 06.09.15. Overnight … Continue reading
Monday’s progressive selling has continued into the overnight session reaching 2071 projected Low of Day outlined on prior Daily Trade Strategy 06.08.15. Having extended below prior low (2076.25) to Cycle Decline Target (2071.75), price has sprung back up to the … Continue reading
Current 3-Day Cycle has been weaker than past cycles…This may be a “tell” for further price weakness…Nasdaq has fared better on a relative basis, so we will need to monitor closely the price action there since it is 20% of … Continue reading
Economy All eyes on Wall Street will be on the U.S. non-farm payroll report this morning, with the possibility that a strong reading could move the clock up on a Fed rate hike. Economists expect U.S. employers to have added … Continue reading
S&P e-mini (ES) remains within multi-day range between 2120 and 2100 handles…In overnight trade price is yet again testing the lower edge of range (2100.00)…It appears from overall price action a “tipping point” is very close at hand. Markets do … Continue reading