Bulls and Bears zone for 06-03-2019Market sold off during overnight session and rallied as well. If market is going to rally, it needs to test overnight low first.
Sp1
SPY SHORT: Break and Close Below 2800
break and close below 2800 neckline.
now I anticipate bearish continuation to lower levels.
Bulls and Bears zone for 05-31-2019Market sold off during overnight session. It tested yesterday's RTH Low and was rejected. At the time of writing, market is rebounding very likely to test yesterday's RTH low again.
If Bulls can not take out Yesterdays RTH low convincingly, than there would be a sell off very likely.
Couple of reports to be aware of for today:
US:Chicago PMI
9:45 AM ET
US:Consumer Sentiment
10:00 AM ET
Bulls and Bears zone for 05-30-2019During yesterdays RTH Bulls could not get over 200 SMA on a 5 minute chart, which is a sign that Bears are still in control of this market.
I suppose we could see a test of overnight session high before a sell off.
Few reports that could impact the market today are as follows:
US:Pending Home Sales Index
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
US:EIA Petroleum Status Report
11:00 AM ET
Bulls and Bears zone for 05-29-2019Market sold off overnight and went below 2800 which was a strong support. Test of overnight low would determine the direction today. Very likely more selling since Bears had more conviction than Bulls yesterday and continued overnight sell off.
Bulls and Bears zone for 05-28-2019Market sold off during overnight session than rallied. It will probably test overnight high than decide on direction.
There is one report due which could impact the market:
US:Consumer Confidence 10:00 AM ET
Bulls and Bears zone for 05-24-2019Market rallied during overnight session. Market needs to test overnight high before deciding on direction.
Bulls and Bears zone for 05-23-2019Market sold off overnight to open gap down. Traders need to test overnight low before any rally and try to close gap (if at all).
There are couple of reports that traders need to be aware of:
US:New Home Sales
10:00 AM ET
US:EIA Natural Gas Report
10:30 AM ET
Bulls and Bears zone for 05-22-2019Overnight session market rallied and sold off. It is probably going to be a range bound day. Market is currently at 2855, I would look for resistance around 2863 and 2865.
Couple of reports that could effect the market:
EIA Petroleum Status Report
10:30 AM ET
US:FOMC Minutes
2:00 PM ET
Bulls and Bears zone for 05-21-2019Last few days market has been selling off during overnight session and rallying during RTH.
However, today seems to be opposite and rallied during overnight session and still holding. It is very likely that market will sell off during RTH. Look for any test of the overnight High.
Bulls and Bears zone for 05-20-2019Market will open with massive gap down. It is very likely to rally and try to close the gap, if not at least test Friday's low.
Bulls and Bears zone for 05-17-2019Yesterday afternoon's sell off should continue today. Any test of the rectangle area on chart for today should act as resistance.
Need to be aware of couple of reports that could impact the market:
US:Consumer Sentiment 10:00 AM ET
US:E-Commerce Retail Sales 10:00 AM ET
Bulls and Bears Zone for 05-16-2019Overnight session market rallied to get to where it closed during yesterday's RTH. It is very likely that it will sell off.
Bulls and Bears zone for 05-15-2019Market sold off during overnight session. Very likely it will rally if it tests overnight supports and bounce.
Bulls and Bears zone for 05-14-2019Overnight session market rallied somewhat. This rally should continue during RTH if market is able to take out overnight session high.
Bulls and Bears zone for 05-13-2019Overnight session market sold off. Market could test Fridays low and bounce than go sideways most of the RTH.
Bulls and Bears zone for 05-10-2019Market is going to be very volatile today since additional tariff on Chinese imports went into effect today.
Expect market to have some volatility at opening hour or so than a sell off and pullback.
Bulls and Bears zone for 05-09-2019Market sold off very aggressively yesterday right at close which is very bearish. We will probably see a sell off than sideways.
Bulls and Bears zone for 05-08-2019Market could not push higher during overnight session which is very concerning for Bulls. Currently, it is trading below yesterday's close. It would not be surprising to see a repeat of yesterday.
Bulls and Bears zone for 05-07-2019Yesterday market rallied but could not close the gap. Now Bulls have two gaps to close. Chances are very good that market will close at least one gap today, maybe both. It should be a day for Bulls.
Bulls and Bears zone for 05-06-2019Friday market closed high, since then it has dropped below weekly low of last week. Market is going to open gap down, Market will probably rally and test Friday's open.
There is no report to impact trading except trade talk with China.
Bulls and Bears zone for 05-03-2019Yesterday market sold off then rallied more than 50% of it's sell off range. That is bullish for today. It would not be surprising for market to test weekly high after setting a weekly low yesterday. That is what you call volatility.
Couple of reports that could impact the market:
US:PMI Services Index 9:45 AM ET
US:ISM Non-Mfg Index 10:00 AM ET
Bulls and Bears zone for 05-02-2019Currently market is trading around where it closed yesterday. Yesterday market sold off very aggressively in the afternoon. Normally market will trade in a range after such sell off. We might get a rally later on during the day.
It is always good idea to keep an eye on 50% range from High and low of yesterdays sell off range.
There are couple of reports that could impact the market:
US:Factory Orders 10:00 AM ET
US:EIA Natural Gas Report 10:30 AM ET
