Yesterday’s trade strategy blog opined that the bulls needed to hold the 1736.00 level in order to “keep the recent drive alive”. Well, the bulls did just that, as “da bears” tried to break through that important level unsuccessfully. This … Continue reading
Yesterday’s price action saw an aggressive push higher into the daily money-box zone only to reverse down as quickly as its ascent. This type action has potential of marking a short-term high. Violation of 1736 will confirm 1754.50 as high…Bulls … Continue reading
S&P futures is currently consolidating recent gains, holding steady above 1736 support. Delayed Jobs Report is due to be released Tuesday with analysts expecting 180K… Further upside has been kept in check at the 1740 level, so until that level … Continue reading
Last week, the battle in Washington was settled (at least for now). The market, which had been struggling to gather volume conviction, finally made a definitive statement–new highs on big volume. This ended the correction and rocketed the Nasdaq to … Continue reading
Congress voted an 11th Hour Budget and Debt-Limit increase deal ending the stand-off….Until the next time…continuing saga….(DEFCON 5) Back to the trading business…. Prior Day High at 1717.00 will be necessary to overcome for higher prices…Sellers filled every buyer into … Continue reading
The Budget and Debt-Limit talks has reached the point of an outright “showdown” that can be analogous to the famous gunfight at “OK Corral”. One side will be left standing in the end. As the World holds its breath from … Continue reading
Markets remain optimistic that a deal will be agreed upon, but still a bit edgy. Markets opened lower yesterday as expectations of a weekend deal fell apart, only to rally back to notch new highs as word spread that Senate … Continue reading
Markets had high expectations of a weekend deal between lawmakers which has not materialized…I guess it was “to good to be true”. As such overnight trade has price down 13 handles anticipating a gap down pit session open. Markets completed … Continue reading
Price made a nice recovery jumping +47 S&P handles on reports that there actually may be some negotiations on CR and Debt-Limit. Markets welcomed that news and responded in-kind. So far both sides have agreed to talk…or perhaps “agreed to … Continue reading
Mkts were looking into the “abyss” yesterday with sharp sell-off down to 1640 level which was the “last chance retracement” level. If the market did not find support at 1640, then odds increased for a test of August lows. Buyers … Continue reading