Author: Polly Dampier, Naturus.com

ES broke down the 9-day moving average last Friday and managed to hold price below it for closing yesterday. It indicates that the selling from Nov. 5 high move hasn’t completed yet. Today price could go down further if ES...

The S&P 500 cash index (SPX) closed at 1199.21 on Friday for a net weekly loss of 26.64 points, about 2.2%. The bulls driving the two-month rally ran out of gas last week, at least temporarily. Just a week ago SPX broke...

The wave structure indicates the current pullback is sub-wave 4, which is a correction wave. After this sub-wave 4 completes, there still need to be one more push up — wave 5. But that wave will have a short duration and...

ES consolidated under its previous breakdown point 1214.75. Even though Fed announcement hyped the price back up from early low around 1201.75, ES still was unable to close above 1214.75. Today 1206 will continue acting as an...

The premier Chinese rating agency, the Dagong Global Credit Rating Co., downgraded the U.S credit rating to A+ from AA, citing a “deteriorating debt repayment capability and the drastic decline of the government’s...

ES had a profit-taking day for the first day of the week. Sideways under red for most of the day Monday and closed with very light volume Today 1214-1216.50 will be the key range. As long as this range holds the price up,...

The S&P 500 cash index (SPX) closed at 1225.85 on Friday for a net weekly gain of 42.59 points, about 3.6%. Many thanks for Fed QE2 plan. Last Wednesday the Fed announced $600 billion QE2 plan, and the next day, the...

The Fed bought everything on its first POMO day after the announcement of the $600 billion stimulus plan. Right now we shouldn’t fight with Fed. So far everyone knows the $600 billion need to be digested through the stock...

The Fed announced plans to purchase $600 billion of longer-term Treasury notes by mid-2011 at the FOMC meeting Wednesday. Interest rates were not changed, and will remain at rock-bottom levels for an extended period of time. ES...

The economic reports released on Monday showed an increase in personal spending — although the increase was less than expected — combined with a decrease in personal income. The obvious conclusion is that patriotic...