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
Initial Support Zone: 1688 – 1690 Initial Resistance: 1698 – 1700 Penetration of Prior Day High (PDH) targets 1703.50…1707.50…1709 – 1712 zone Violation pf Prior Day Low (PDL) targets 1684 – 86 zone, then 1678 – 82 zone Average Range … Continue reading
The Fed’s QE Gap is now closed and it’s back to normal trading business. The Govt Debt Ceiling Debate Saga will now be the focus on traders/investors minds. We’ve seen this movie before and the characters are the same…Congress will … Continue reading
Today’s Trade Strategy will be short…Market’s are consolidating recent surprise Fed move to hold QE purchases steady at $85B per month. Current support is prior day low and globex low at 1713.25…Violation of this level calls for lower levels to … Continue reading
The Fed surprised the market’s with announcement of “no taper”, leaving bond buying steady at $85B per month. Markets reacted positively as Major Indexes broke out to new highs. So for now, the “crack-pipe” has been re-lit and everyone can … Continue reading