SPY closed -0.6% lower on quadruple-witching expiration this Friday. SPY was up 1.3% on the open on the back of ES futures that gained strength in overnight session from European stimulus and China's trade news. After a mild liquidation break in the morning selling started in earnest on the news of AAPL closing stores in two states due to Covid-19 spike. At...
Who would have thought that the narrowest days of the past 7 days will be printed one day before quad witching. But here we are. SPY closed down 0.1% yesterday. Unemployment data came in tepid, with continuing claims at 20.544 million for the week ending June 6. OTOH, Philly FED index turned positive and Leading Economic index clocked in at +2.8%, the first...
In past 6 trading days SPY has open higher than the close. They are selling the up gaps. And buying the down gaps, as happened on the only green day in the past 6 days. Yesterday traced out an inside day. Usually trading in the direction of the break of an inside day pays off. However, at present, ES futures are trading 22.50 handles lower promising a gap down...
Living up to the volatility expected in quad witching week RTH session opened about 2.5%, algo's liquidation break slammed SPY down to almost 0%. BTD bulls came in to stabilize market to finally close SPY up 1.9%. SPY at 312.96, comfortably above support. ES futures are again buoyant up +17.25 handles as of now suggesting SPY open about 0.5% higher. FED chair...
At one time in the overnight session ES futures were down -2.5%. About afternoon FED chimed in with an unexpected announcement that it will start buying individual corporate bonds. That jaw boning was enough to propel SPY to a gain of 0.9% by end of trading day. ES futures are again bouyant, up 34 handles as of now. The indicator is showing divergence but...
SPY opened up euphorically, up 2.9% at it's high for the day. Strong 2 way trade ensued as expected (noted yesterday). Index closed up 1.3%, but much lower than the open. Thursday's strong down trend day was followed by sell into strength of Friday. Rips were sold, dips were grudgingly bought. SPY was down as much as 0.6% before buyers closed up the index for...
A great trend day for bears ended with SPY smashed for a loss of -5.7%. But still above support zone. ES futures are nice up 54 handles suggest a robust 1.8% higher open for SPY as of now. I expect vigorous 2 way trade in RTH. Indicator has started to develop divergence. But one day a trend does not make Above SPY 300 and the ball is still with the bulls.
SPY, after a cha-cha-cha move following FOMC statement, closed down -0.5%. The market is showing a change in character as shown by violent two way trades in the past few days. VIX is creeping up, currently in high 20's Following through on the nascent decline ES futures remained red on overnight trade, currently down 45 handles. FED says rates will remain...
For a change SPY closed down -0.75% yesterday. ES futures are green again by 10 handles as of now promising a higher open for SPY. Today FED speak happens. Their policies have been very supportive of the market. I expect more of the same. RSI remains overbought. Options put/call ratio near record low. But indicator has not flipped yet. Waiting for divergence...
Yesterday tech heavy NDX closed at all time high while SPY closed up a healthy 1.21%. Bullish tone persists in the markets. ES futures are weak in the morning today, down -28 handles. Will that spill into day time trading remains to be seen. RSI is above 70, an overbought condition, but can become more overbought if the bulls keep snorting. Put/Call ratios...
I we look at the EW count and cycles we can expect a corrective move for the indices this week.
SPY closed strong last Friday and finished with a gain of 2.56%. ES futures are again perking up +20 handles as of now. Same old story. SPY remains bullish. RSI above 70% and can get higher. Looking for the next two weeks to develop divergence in indicator for sign of weakness. But currently, all systems go for bulls.
SPY close down yesterday -0.26% snapping a 4 day winning streak. The Nasdaq-100 index briefly touched a record high before rolling over to close more than 0.7% lower. Labor Department’s latest jobs report is scheduled for Friday at 8:30 a.m. ET. Expected unemployment 20%. ES futures are again higher 30 handles (+0.97%) as of now, as bouyant Wall Street/...
SPY closed up 1.33% up yesterday, as bulls are handling all negative news about very weak economy, corona, unemployement topping 40 millions. ES futures futures are trading about -18 handles and have been under pressure in overnight trading. The latest weekly initial jobless claims count totaled 1.877 million, against an expectation of 1.800 million. But...
Germany is set to approve a new fiscal stimulus package worth an estimated 80 billion euros. Makes for ES futures drifting up 0.45% and a solid bid underneath the markets as of now. Yesterday SPY closed up 0,40% and the grind higher continues. WTI crude is higher by about 2% as of now, which augers well for the small caps. U.S. CONGRESSIONAL BUDGET OFFICE...
$SPY gapped up on the heels of $ES futures bullish action yesterday, but sellers showed up at the open and slammed $SPY down to a low of -0.7%, before buy the dip crowd showed up and closed SPY at the high of the day, firmly above its 200 DMA. The S&P 500 advanced 1.5% on Wednesday. Advance led by many of the value-oriented stocks. IWM (+3.1%) outperformed...
$SPY closed up +1.7% but the bullish day was marred by US tweets re China. $SPY managed to close unconvincingly above resistance at 296. $ES futures are pointing to a down open which will drop $SPY back again in the range. So range bound trading continues.
As expected yesterday the morning session had a positive tone, which gave way to strong selling late afternoon. $SPY close down 1.03%. However, bulls are unfazed and $ES futures are pointing to about 1.2% higher open. Bulls are smelling victory seeing the resistance level so close but have been frustrated the last two days. $ES futures inventory is almost 100%...