Good morning. Happy Tuesday. So the 5 consecutive up days on declining volume with an unfilled gap was too much for the market. Sellers were aggressive yesterday – not super aggressive, but aggressive enough. The Nov 24 gap still sits unfilled, and after today’s expected gap up open, we’ll have two unfilled gaps below and […]
Before the Open
Good morning. Happy Monday. Hope you had a nice weekend. We enter this new week with the market having rallied 5 consecutive days on declining volume with a gap down there near the low. This is not exactly bullish, so although the short term trend is up, being aggressive on the long side is a […]
Before the Open
Good morning. Happy Friday. Today of course is a half-day which should be just long enough to allow the market to relieve some pressure. We don’t expect much volume, but a little movement would not be out of the question. There isn’t much news out. 30 minutes before the open, Nas 100 futures are down […]
Before the Open
Good morning. Happy Wednesday and Happy early Thanksgiving. Today should be fairly normal the first couple hours, but then volume will die down after lunch. The market is closed tomorrow and is only open a half-day on Friday. Yesterday presented one of the most obvious no-brainer trades for day-traders we’ve seen in a long time. […]
Before the Open
Good morning. Happy Tuesday. The cash market will once again open with gap up. Yesterday’s gap didn’t fill; can a bottom be formed with consecutive unfilled gaps? 30 minutes before the open, Nas 100 futures are up 20 (1.74%) to trade at 1166.75, and SPX futures are up 21 (2.51%) to trade at 869. The […]
Before the Open
Good morning. Happy Monday. Hope you had a nice weekend. It looks like the US market will continue the rally which began Friday afternoon. 30 minutes before the open, Nas 100 futures are up 23.75 (2.18%) to trade at 1114.75, and SPX futures are up 21.25 (2.68%) to trade at 813.25. The Asian/Pacific markets closed […]
Before the Open
Good morning. Happy Friday. It’s options expiration day. For the most part, the world markets are brushing aside the extreme weakness from the US. Asia/Pacific is trading mostly up, and there are some big winners. India and Seoul closed up more than 5%. Singapore, Japan and Hong Kong gained almost 3%. Australia and Taiwan almost […]
Before the Open
Good morning. Happy Thursday. It’s not a happy day for markets around the world. The Asian/Pacific markets melted down today. Japan and Seoul dropped more than 6%. Australia, Hong Kong and Taiwan fell more than 4%. India and Singapore down more than 3%. New Zealand and Indonesia fell more than 2%. And everything else dropped […]
Before the Open
Good morning. Happy Wednesday. Despite the strong finish by the US markets yesterday, the world markets did not follow through, and the US cash market is set to give back about half of yesterday’s late-day gains. In Asia/Pacific, China rallied 6%, but everything else was down. India, Singapore and Seoul each lost more than 1%. […]
Before the Open
Good morning. Happy Tuesday. Yesterday was a relatively boring day until the last hour when the indexes sold off to close at their lows. The VIX nudged up but the put/call ratio dropped. It’s not a great sign for the market to be sitting at support when sentiment indicators suggest there isn’t much fear out […]