S&P Daily Pre-Market Prep 5/3/16
We've had a push back up through the 71.50 area, I mentioned yesterday being bullish above that and bearish below. I'm a little wary of a small range forming here that could hold us for the next few...
We've had a push back up through the 71.50 area, I mentioned yesterday being bullish above that and bearish below. I'm a little wary of a small range forming here that could hold us for the next few...
The market has come off with significant volume. So if there's more volume to the downside, I'm now biased towards a move back down to 2000. That's a bias, I'm not married to it.
The FOMC failed to pop us through the highs, which means that's one less catalyst for an up move. It's becoming more likely that we'll just roll over back to 2000 but I'm still waiting for clear ...
FOMC Day. Yesterday was pretty lame at the end, so expectation today is a slow start then fireworks at FOMC time.
So again, looking for this 2100 area to be resolved. Looking for a pop up or a break...
We've come off the 2100 area but no clear rejection or sell off yet. Volume is decent but steady- around 1.7M per day. The upper white line at 71.50 appears to be where we found support, so an eye on...
We have come off the highs, I'm not convinced this means we have rejected them yet as this could be just a shake out. I have an eye on the 4th April high at 2071.50
We are almost at the 2100 level. Scenarios from here on are a roll over and back to 2000 or we push up and move on to new highs. We could spin around here for a few days whilst the market decides...
A gap down day. Now I'm not really a big fan of trading gaps as I don't consider a "settlment to open" difference a significant occurrence. These gaps where we gap below the prior days range and stay...
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