The S&P notched yet another 30 handle “up sequence” past few sessions with a narrow range consolidation period yesterday with a Hi-Lo Range of just 6.75 handles…That is 7.50 handles below 5 day average of 14.25. Simply, the market is … Continue reading
The S&P’s Opening Gap pushed price higher in Monday’s session, with trend-day short covering characteristics, reaching our price targets of 1891 – 93 zone. Now comes the BIG TEST of the April 4th High and a probe for “buy-stops”. Will … Continue reading
As we noted last week; “price extremes on both edges, ranging from 1854.50 – 1884.75, with daily swings averaging 20 handles.” Looking at the 10-day profile, all those intra-day gyrations have formed a very large, potentially powerful “Balance Zone” between … Continue reading
This week has seen price extremes on both edges, ranging from 1854.50 – 1884.75 with daily swings averaging 20 handles. That’s enough to make any seasoned trader exhausted. Price continues to fail and get rejected above 1880 handle, so continue … Continue reading
Yesterday’s DTS stated: “Failure to hold support on any retest with increasing selling suggests a reassessment of bullish resolve; Violation of key support targets 1856.” Key support zone was 1859 – 62 which was violated forcing aggressive selling and stop … Continue reading
In yesterday’s DTS we opined that failure to penetrate PDH suggests further consolidation within multi-day value area, with possible test of key support zone between 1859 – 1862. That scenario played out as scripted, with progressive and increasing selling pressure … Continue reading
An early onslaught of selling yesterday was quickly and aggressively absorbed as Bulls continue to buy every available dip in price. This action is quickly building pressure for the next explosive move and the probabilities currently favor higher. Definitive penetration … Continue reading
Price continues to struggle at the 1880 – 85 zone, failing to break above, being rejected yet again. How often can bulls be turned back before they stop trying? Perhaps the “Sell in May…and Go Away” will be their excuse. … Continue reading
The all-important monthly Non-Farm Payroll (NFP) Report is expected to show an increase of 210K in April after increasing 192K in March, while the unemployment rate fell from 6.6% from 6.7%. The Dow Jones has already hit a new high, … Continue reading
Despite Russell 2000 under performance, Nasdaq recent weakness; Dow Jones eked out a new high, as Large Cap dividend paying value stocks have been supportive on recent pullback. Remember that the S&P 500 is the broadest measure of stocks, which … Continue reading