Category: Financial Markets Update

(6/22) Crude is still falling apart and everyone has to be a bit nervous with US and Russian planes buzzing each other in a show of ego. We have to really be concerned about our leadership and military when these kinds of games happen. On the bright side, there’s an olive branch from North Korea that will probably be stepped on by the US and cycles for July don’t look great for their leader. Stocks should still be sold into Sunday night but may recover next week. We’re not seeing any signs of a meltdown.Continue reading

FOR WEDNESDAY: (6/21) Stocks couldn’t handle tumbling crude oil prices and API prices after the close on Tuesday aren’t helping. Market is close to issuing a sell signal but it’s not yet verified by NQ futures or SP cash and we have seen the cavalry come to the rescue too many times to start roaring like a bear. Dollar completed a key number and needs to fall part now and metals are due for a bounce here but unless it is dramatic, new lows coming into Friday.Continue reading

FOR TUESDAY: (6/20) Monday was a big surprise with new highs on SP and Tuesday looks higher also. Tuesday is a major Bradley model turn date and it’s coming in as a high and gold is close to key support as is dollar to resistance. Starting to wonder what might happen to create major turns for everything now?Continue reading

FOR MONDAY (6/19) Often the day after Quadruple witch is lower and cycles for Sunday night seem strongly lower if there’s some shocking news over the weekend. If not, stocks may take a few days to wander up to 2442-3 on the Sept. S & P and then fall. Not a lot of news next week and we wonder how soon summer vacation doldrums will hit the market.Continue reading

FOR FRIDAY: (6/16) Quadruple witch and end of the week exhaustion may create more quiet trading and leave us waiting for the new shoes to drop on Sunday/Monday. At this point we have to see how much more short-covering happens overnight and early Friday before taking anything home.Continue reading

FOR WEDNESDAY: (6/7) Everything revolves around Thursday’s British elections and the ECB and then we have FOMC coming up on June 14 and also Comey speaking on Thursday.Continue reading

FOR TUESDAY: (6/6) Everything revolves around Thursday’s British elections and the ECB and then we have FOMC coming up on June 14. We should get congestion of last week’s gains for a while and this may lead to boring trading. Can do quick trades from key numbers as they set up but most didn’t set up on Monday.Continue reading

FINANCIAL MARKETS OVERVIEW FOR MONDAY: (6/5) There are a lot of big events for next week with ECB, the UK elections and we’re approaching FOMC on June 14; all of this may lead to congestion and profit-taking rather than acceleration as everything got unleashed on Friday and then will continue to finish on Sunday. We have to remember to chase markets on these report breakouts but too many years of whipsaw-action has given us too many war wounds. That means next week may be a bit congestive, spurring lot of range trading.  .

FOR THURSDAY: (6/1) First-of-the-month action if usually a buy for fund managers but in June they have to be a bit cautious given prices at S&P 2400. Still, we think 2520 could come in early summer before this market corrects into October. Wondering how much sideways congestion will happen or if no one really cares about the employment report for a market that goes straight up.Continue reading

FOR WEDNESDAY: (5/31) We had one of those days when people aren’t quite back from vacation and now we move to the end of the month. Will we get end of the month profit-taking so they can buy it back up? We’re open to congestive action and a minor break into Sunday of next week but not sure it means that much unless S&P 2375 comes out–and not likely. One more day lower for gold and silver and then higher into Friday.Continue reading