Overnight support held and futures made progress all the way up to FOMC minutes release at 2pm, which allowed only a shallow pullback, then a strong bullish rally to finish the session on highs for all 4 major indices. Dollar weighted buying pressure strengthened all day, and out version of the intraday McClellan was high […]
Trend up on FOMC Minutes Read More »
Futures dipped lower on open of the SUnday night session, with ES (S&P500 mini futures contract) dipping below the important 2000 level but only briefly, which struck major support, and the bottom was in for the evening session, never being retested. Opening action saw a lot of chop and sideways movement, directionless trade but a
Stealth Trend Day Nov 16 Read More »
Trend day down again, similar to Monday’s session, with few bounces that were shorting opportunities. Our Trend Day indicator once again called the action at 10:15 am and if you only took a short on this indicator at that time you would have bagged 20 SPX points by the close. $ Weighted Buying Pressure trended
Downtrend Confirmed Read More »
Negative breadth after a consolidation day may have just confirmed the downtrend that started on Monday Nov 9th. Markets dropped immediately off open, and rallied back midday, the Nasdaq actually making a new intraday high, the only index to do so, but later failed and closed back at lows. Down volume in Nasdaq stocks was
Negative Breadth may confirm new downtrend SP500 NQ100 Read More »
