Price rallied sharply (+28.25 handles) from deep oversold conditions in Thursday’s trade session to close near high of day. We knew there were good odds to rally if the prior day low was not violated, which it wasn’t. Yesterday was … Continue reading
Sellers remained dominant throughout Wednesday’s trade session as several attempts to push price higher was rejected with responsive “sell programs”. The Open Range Marker at 2039.25 was a formidable resistance level all-day. Market on Close sell imbalance of $850M acted … Continue reading
S&P broke temporary support at 2066 level and as outlined in Tuesday’s Daily Trade Strategy 03.10.15 long liquidation unfolded, driving prices down to symmetrical swing support at 2044 handle. Overnight night trade is quiet with no further price weakness…Odds are … Continue reading
Mutual Fund Monday held equities from further deterioration in prior trade session as price rallied the distance of an Average Daily Range (16.50 handles). Key Resistance is located between 2084.25 – 2085.75. The larger picture continues to paint continued distribution … Continue reading
Strong NFP Report sent both Bonds and Equities sharply lower on Friday as investor/traders expectations have now increased of an imminent interest rate hike beginning June. Whether that actually occurs we’ll all have to wait and see…Until then, investors sell … Continue reading
Yesterday was Cycle Day 2 (CD2) with expectation was for “back n fill” price action outlined in prior DTS 03.05.15. Scenario 2 was in-play as price pulled back and found support at 2093.50, four-ticks above lower projected target of 2092.50. … Continue reading
Yesterday’s price action was textbook Cycle Day 1 outlined in prior DTS Report 03.05.15 as Scenario 2 played out perfectly. Once a secure low was found, buyers stepped back in and aggressively auctioned price higher to end day where it began…within the … Continue reading
Tuesday’s Daily Trade Strategy Briefing 03.03.15 outlined the potential for a “stop-run” if 2100 level was violated. “Violation and conversion of 2100 might create a stop-run, but a move below 2079 will reverse the immediate uptrend.” That’s exactly what happened as aggressive … Continue reading
S&P 500 e-mini continues to be locked within multi-day trading range between 2100 – 2115 as we have been discussing in recent briefings. We continue to classify this action as bullish as long as 2100 continues to hold on light … Continue reading
March begins where February ended…S&P still stuck within multi-day range between 2100 and 2115. There was some month-end price weakness on Friday that will need to be addressed early this week. If price can hold above 2100 and recover above … Continue reading