Two Stocks For Today
After rallying this morning, the indices are pulling back The high on the e-minis, thus far, was near the 1.5 volatility band of 926, and a little below the R2 pivot of 930. Similar with the Nasdaq: the high was just above the 2.0 vol band and just under the R2 pivot (1087). The TRIN has been bullish all morning. What’s in store for this afternoon?
If This One Goes For The Gold Again, You May Want To Get On Board
On the E-minis, we’ve hit the 1.0 volatility band and are approaching a crucial area. We’ll either make a 1,2,3 out of this, or slice right through this level. With the TRIN at 1.30 at this writing, I’m inclined to lean toward the latter scenario.
What To Do When You’re Trading At Intraday Highs…
After an early run-up, we’re trading near the 1.5 volatility band on the S&P and SOX, and at the 1.28 band on the NDX. This, combined with the fact that we’re above the .618 retracement of the 11/13 – 12/2 move, suggest a pullback soon, perhaps as early as this afternoon (if we continue up today, look for a pullback tomorrow, though).
Futures Point To Weaker Open
The stock market could be in for a sharp dive, unless the holiday spirit can shift the direction of sentiment quickly. The fact that energy prices are soaring and the Dollar is falling sharply simply turns up the existing selling pressure in stocks. We have to wonder how many fund managers will move to dump positions aggressively, if the March S&P slides below 884.40, as many managers might attempt to cut losses quickly, rather than see yearly results damaged by a
Futures Point To A Stronger Open
We have to think that the short term oversold status of the market or triple witching effects are responsible for the overnight strength in stock prices
Futures Point To A Weak Open
-áThis morning could be the “break-point” in the match, with the “sentiment” poor and the numbers seemingly having the capacity to foster recovery views.
Futures Point To Weaker Open
The macro economic condition would seem to be deteriorating with anecdotal dialogue from the holiday shopping season basically disappointing. Traders might try to key off the wide daily range posted on Monday, as that range might prove to be an effective breakout indicator. We continue to think that a number of longs are hanging tough in this market, in hopes that some type of Christmas rally will unfold.
Futures Point To Soft Open
Given the sharp rise in gold and the sharp decline in the Dollar, we have to think Wall Street will be looking over its shoulder with fears of an anxiety event. However, in the overnight action, the S&P is not showing too much concern. Nonetheless after the surprise rally Monday, soaring energy prices and sla
Futures Indicate Stronger Open
The pattern of lower lows, is not usually a good formation for those expecting a major recovery bounce.
Futures Point To A Weak Open
The bear camp had almost all the news it could wish for Thursday with war, anthrax, chemical weapons, rising initial claims, corporate accounting problems and a new low for the year, in the US Dollar
Futures Point To A Stronger Open
A number of minor negatives have left the “bear camp” generally in charge of daily price action.
Why The Euro May Get Trashed
We have very little interest in buying this market on recovery bounces.