Many good nuggets of information can be found in this weeks daily reflection posts. This week we are expecting some sort of bounce. News announcements can be found here and include GDP on Thursday. Volatility remains high so be prepared form continued large intraday swings. We are expecting volatility to remain high through the summer. Volume remains higher on the down weeks and lighter on the up weeks.
The Dow Jones and the S&P 500 started off the week with impressive gains, making up for just about the whole slide from the previous week. The Dow finished the week up 2.3%, although, it spent Thursday and Friday selling off. We are looking at the 10,400 level in the Dow and the 1120 level in the S&P which are their 50% retracements for bulls. As a case for the bears, the Euro currency has hit an 18 month low…
At this point Sunday evening 6:00PM CST the markets are up 19 S&P points and 150 Dow points. Where we open on Monday morning will be everything. We have been forming a large triangle pattern on the hourly chart and have two major price points on the S&P. If we open up around 1030, a large gap up, investors may see this as a great buying opportunity, however if we gap down and open around 1095, investors may see this as a…
Racing mountain bikes this weekend left me tired and little time for posting. News announcements can be found here for the week which is heavily packed with them. We are watching for a close above 1210 on the S&P to get bullish and close below 1181 to get bearish.
In the week ahead look for these news announcements to act as potential market movers… We have the FOMC Meeting Announcement Wednesday at 2:15 PM EST, expecting the FED to keep rates unchanged for “an extended period of time,” but as in pat announcements the wording will be the focus. We also have GDP on Friday before the bell. We’re still looking for some hesitation at the S&P 1225-1230 due to the fact that the 61.8% line from the weekly…
In the week ahead look for these news announcements to act as potential market movers… We are getting into earnings season once again and with the emerging news of the Goldman Sach’s allegations we could see more volatility in the week to come. On the news front Thursday and Friday are the major days this week. Our target on the S&P remains $1228, but if we break $1186, then we do have the possibility of going back down to $1121.
In the week ahead look for these news announcements to act as potential market movers… Options Expiry and moderately packed news week! The market is on a tear higher and continues (ES +5 PTS) as I post this Sunday evening around 8:00 PM CST. One thing we must always remember is that no matter what our opinion is on the market and its future direction, we must not fight it. Trade the market, not your opinions. Our S&P target remains…
In the week ahead look for these news announcements to act as potential market movers… Pending Home Sales to kick start the week Monday followed by Jobless Claims on Thursday. Taking a look at the fibo 50% and 61.8% lines on the top line figures we see the NASDAQ and Russell are already well above their 61.8% line (indicating the likelihood of a full retracement). The S&P and Dow are approaching their 61.8% lines and it’s at these levels we…