Author: Tom Busby

The markets sold off in overnight trading mainly due to carryover from Friday’s losses and the lack of positive, concrete solutions at the weekend G-20 meetings.  However, traders should be exercise caution to the...

Daily Opinion A break above 1107.00 should allow the market to challenge the open of the year at 1113.75. The market could then rally past 1119.00, and then challenge 1125.00 and 1129.00 before climbing to 1134.00. On the lower...

Daily Opinion A break back above 1084.00 should allow the market to challenge 1089.00 and then 1094.00. Once above 1094.00, the market should challenge 1100.00 and then 1107.00 before rising to 1113.75.  On the lower end,...

May 27, 2010 Despite the market clearly being in a downtrend there was a short term bottom put in place on Tuesday.  The large gap down opening followed by a day long rally often indicates a short term bottom.  The...

Daily Opinion A break above the 1094.00 should allow the market to move up through 1098.00 and challenge 1104.00. Once past 1104.00, look for the market to climb to 1109.00 and challenge 1113.75. A rally could move up through...

Daily Opinion A break above the open of the year, could allow the market to rally up through 1119.00 and 1125.00 to challenge 1129.00 and 1134.00 before climbing up to 1139.00. If the market back below 1094.00, then expect a...

Daily Opinion If the market breaks above 1069.00, then look for a move up through 1075.00, 1079.00, and 1084.00, to seta challenge of 1089.00 again. If the market breaks above 1089.00 we could see resistance at 1094.00, and a...

The US market opened this morning at 1080 on the emini SP 500.  We have been in a steady uptrend since the 830am CT open and the market continues to trade higher.  As long we stay above 1080 on the ES, the likelihood...

The market needs to break above 1081.00 to challenge 1084.00 and then 1089.00. If the market breaks higher than 1089.00 we should expect another 1094.00 and then 1100.00, with the market possibly moving up to 1107.00. If the...

Daily Opinion The market needs to break above 1064.00 to be able to challenge the open tonight of 1069.50. Once above the open, look for the market to meet resistance at 1075.00 and 1080.00 before climbing through 1084.00 to...