Author: Polly Dampier, Naturus.com

This feels like a hope-for-the-best market: Hope the winning party in the election will bring in changes in the economic climate. Hope QE2 will create more jobs and bring more prosperity. Hope is not a good trading strategy. ES...

The S&P 500 cash index (SPX) closed at 1183.26 on Friday for a net weekly gain of 0.18 points, and a monthly gain of 42.06 points, about 3.7%. In the past week, the SPX mainly went sideways most days to wait for the mid-term...

ES continues to form a round top. But this round top takes many days to complete. The price moves we are seeing — one day strong and next day weak — is a process often seen about the end of a trend. We just need to...

Yesterday the Wall Street Journal ran an article saying the quantitative easing the Fed is expected to announce Nov. 3 will be smaller than expected. The market reacted negatively amd sold off sharply. But in the afternoon the...

The market was knocked down by disappointing earning reports from DuPont, Texas Instruments, and U.S. Steel in the early trading, but later a better-than-expected rise of the consumer confidence index helped to hold the price...

ES gaped up strongly at open. After retesting the overnight high the price slipped into the day range low for closing. This is an exhaustion move which indicates that price is on the edge of a reversal. Today is POMO day, and...

The S&P 500 cash index (SPX) closed at 1183.08 on Friday for a net weekly gain of 6.89 points, about 0.5%. The noise about QE2 brought many sidelined investors back into the market last week and bullish sentiment...

ES continues fighting with major resistance zone 1182-85.25 range (created on May4-6). The resistance zone seems a big obstacle for the bulls in the past 7 days. So far bulls won’t give up as long as the Fed keeps pumping...

ES is in the process of forming a short-term top. The price has been struggling with the 1181 area for past 6 days. Within next 5 days, ES should make a final thrust move to end the rally from August and start to make a...

ES did exactly what we predicted in yesterday’s daily trading plan: a pullback move led ES down to retest support just above the 1153.25 area.  This small pullback will not do too much damage on the daily chart. Just...