DanGramza

01:32

DanGramza

Sellers were found on Wednesdays price action. The issue now is can they follow through. An ideal situation for a bullish outlook would be for sellers to push the market lower in Asia and for the market to go sideways to higher in Europe before returns to the US for the possibility of making new highs.

01:36

DanGramza

The Japanese candle chart for Monday implies that the market sold off before buyers came in towards the close. The issue now is can these buyers follow through in the follow-up sessions. An important parameter will be follow-through in the Asia session which is just started to trade it would give us an idea of the level of enthusiasm of buyers to continue to push...

01:41

DanGramza

My feeling was that Thursday's downward movement was a reaction to market concerns and I do not feel this would create a stronger down move. It is an example of a market reacting to the possibility of something in the future not reality. Plus I did not think that people would want to go home short into the weekend. This analysis resulted in the expectation of a...

02:46

DanGramza

The challenge for the S&P 500 on Friday, July 9 would be the follow-through of buyers that came into this market late on Thursday. I also do not think that sellers want to go home short this market and I think that will add impetus for buyers to continue pushing prices higher as we go into this weekend.