What a day, I did not expect such a strong day. And no sell off towards the close as I somewhat expected this morning. So, what next? And most important, was the bottom after all in? Well, only [...]
So far the rebound has been quite weak. At the moment SPX fut. is ~+10 points above yesterday close. Not sure about today but I’m somewhat expecting a sell off towards the close. The chart [...]
Futures opened with a gap down this trading week and SPX is trading below daily MA200 which should be a heads up. Still expecting somekind of a rebound that eventually most likely should fail. [...]
A fast chart update. /ES did not manage to stay long above 1300 today before it was taken out with the help of bad macro data. The gap down today on SPY is ugly. We could though expect a rebound [...]
No case speaking more for bears nor bulls that I could find. Since 1315 was broken yesterday, I state SPX bearish below 1320 for now. Targets for today; low: 1295 , high: 1331 SPX 1h chart
Well, SPX 1315 level was taken out. Not that volatile intraday though, market seems spooked about Spain etc. Not sure about tomorrow yet. Better update coming if I can find any clues about [...]
SPX managed to close near yesterday resistance which I see as a sign of some strength. We could however expect some weakness today and IF the pullback today is weak and non-volatile (not below [...]
SPX closed the week with a 22.6 points gain (+1.74%). Friday trading action was quite interesting since SPX was close to begin a new bearish cycle but bulls stepped in the last ~2h. Price action; [...]
As stated yesterday, the close was indeed strong. No matter how much lipstick you put on a pig, it is still a pig at the end of the day. The same goes for the chart below, it is still ugly. [...]
