Bulls returned big time on the first day of September. The ES gained more than 30 points in a strong trend day. Based on the daily chart, the short term low has been posted. It is unclear if that low at 1037 is a B low or the...
Read MoreES finished August at the low end of the monthly range. Despite predictions that August would be positive for the markets, all three major indexes had their worst performance for August since 2001 There is a positive...
Read MoreThe e-mini futures moved down by stair-steps all through the day session Monday. The price remains inside the first wave of the major declining wave 3. So buyers are standing aside. Today is the last day of August. We...
Read MoreFriday the S&P 500 mini futures contract (ES) briefly penetrated the first major support range 1050-48, and bounced from the lower consolidation range 1036-38. Buying picked up as the price returned to 1050 and ES closed...
Read MoreFriday the S&P 500 mini futures contract (ES) briefly penetrated the first major support range 1050-48, and bounced from the lower consolidation range 1036-38. Buying picked up as the price returned to 1050 and ES closed...
Read MoreAfter a brief bounce Wednesday afternoon, there was no follow through Thursday. ES gave back all Wednesday’s gain and closed below the major support zone 1050.50-1048.00. Today (Friday) a key economic report on GDP will be...
Read MoreES sold off from another bad housing report early Wednesday morning, but as soon as the price reached the bearish symmetrical pattern target 1037, bargain hunters stepped in and pushed it back up above 1050 for closing. ES had a...
Read MoreThe major indexes all finished at low levels Tuesday, driven down by a devastating drop in July housing sales. The futures gapped down at the open and the gap was not filled. But the ES closed right on the major support...
Read MoreEarly merger-and-acquisition news boosted the market to early gains, as we said it might, but the enthusiasm disappeared within 15 minutes of the market open. Most investors will be focused on the data coming from the housing...
Read MoreThe S&P 500 cash index (SPX) closed at 1071.69 on Friday, a decline of nearly 0.7% for the week, following on the heels of the previous week’s 3.8% slump. The SPX is now down about 4% for the year to date. Early last...
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