As Washington continues to dig their heals in deeper and the shutdown continues with the debt-ceiling issue looming, Markets have become even more edgy sending the VIX index to above 20…not seen since last June. We will now raise the … Continue reading
The recent cycle has been buying the morning session weakness…pump up price for midday…then dump into closing bell when no “new buying” appeared…Traders have not been willing to take any overnight risk to positions and as such it seems everyone … Continue reading
As the Gov’t Shutdown continues and enters its next escalation stage, the Markets are getting a bit more edgy, but no real panic. Should the stalemate enter “DefCon-3” then markets may respond more negatively. Overnight trade as of this update … Continue reading
Weakness persists as selling has been methodical and controlled…Given the current stalemate in Washington, Mr. Market has taken it all in stride. There is no Jobs Report this Friday, courtesy of the shutdown, so traders will need to find another … Continue reading
As lawmakers in Washington continue to point fingers and jawboning, Mr. Mkt is yawning and getting a bit bored. Although a resolution would be welcome and markets would in all probability respond positively, they are not breaking down, suggesting that … Continue reading
The Federal Gov’t shuts down (partially), and no…the world did not end! Life goes on..surprise…surprise! Markets held the open range yesterday after some early panic selling…price were firm all day creeping back up to prior weeks low at 1680. Overnight … Continue reading
As third quarter comes to an end the prospects for Federal Gov’t shutdown is likely. Markets for the most part have taken the political bantering in stride, but clearly any extended shutdown could have rippling effects and the Markets do … Continue reading
Bulls and Bears have been slugging it out this week like Rock’em Sock’em Robots with both sides having black-eyes and bruised. Bulls repelled another selling onslaught yesterday defending 1685 – 88 zone forcing a late bounce into closing bell. In … Continue reading
Bears keep attacking the Bulls stronghold at the key 1688 level….Unless the Bulls can continue to defend their ground and push price back above 1695 – 1700 zone the next wave of selling has high odds of violation current lows … Continue reading
The “lines in the sand” have now been clearly drawn by opposing forces (bulls/bears) and each side is defending respective lines vehemently. Those lines are 1688.00 Bulls and 1700.00 Bears. Penetration of upper 1700 line calls for a move to … Continue reading