Good morning. Happy Tuesday. Happy Fed Day. Today the Fed will tinker with the Discount Rate and Overnight Rate. It’s a meaningless event, but of course the media will turn it into a circus. The Asian/Pacific markets closed mixed. Australia, Indonesia and Japan fell more than 1% while India was the only 1% winner. China […]

Good morning. Happy Monday. Hope you had a nice weekend. The market will start the new week with a slight downward bias but considering the recent gap opens, we’ll call it flat. 35 minutes before the open, Nas 100 futures are down 0.75 (0.06%) to trade at 1214.25 while S&P futures are down 3.25 (0.37%) […]

Good morning. Happy Friday. This is a bear market, right? About 30 minutes before the open, Nas 100 futures are down 31.5 (2.65%) to trade at 1158.5 and SPX futures are down 30 (3.43%) to trade at 844.5. They started selling off as soon as they started trading 15 min after yesterday’s close; then they […]

Good morning. Happy Thursday. It was looking like a fairly uneventful open for the cash market until initial jobless claims were released. The number rose 58,000 to 573,000 – the highest in 26 years. 30 min before the open, Nas 100 futures are down 8 (0.68%) to trade at 1211 while SPX futures are down […]

Good morning. Happy Wednesday. It’s a big day for the market. It must prove the mini rally we’re in has legs or else it could fail fast. Monday’s gap can fill, but weakness beyond that tells us the Nov 24 gap up which remains unfilled is likely to fill too. The cash market will get […]

Good morning. Happy Tuesday. 35 min before the open, the Nas 100 futures are down 9.50 (0.78%) to trade at 1202.50 while the SPX futures are down 5.75 (0.64%) to trade at 899.0. In Asia/Pacific, the markets closed mixed with an upward bias. China lost 2.5% and Hong Kong lost 1.9% while Indonesia and Singapore […]

y Monday. The market finished last week on a great note and it’ll continue to sentiment this morning with a huge gap up. It’s not how we’d prefer to start the week, but it is what it is. Hopefully all the bullish patterns we posted over the weekend will still be playable after today’s open. […]

Good morning. Happy Friday. Employment numbers are out. We’ll get to those in a minute. Asia/Pacific closed mixed. Hong Kong and Seoul rallied over 2%. India fell 2.9% and Australia and Malaysia dropped just over 1%. Japan was flat. Europe, which was still open for trading at the time the employment numbers in the US […]

Good morning. Happy Thursday. Gap, gap, gap. Everyday the market gaps – they certainly provide trading opps for day traders but they frustrated the heck out of swing traders. Today’s gap will be to the downside. The market has done well the last two days. The intraday action has been choppy, but in each case, […]

Good morning. Happy Wednesday. Yesterday was an ‘inside day,’ so pressure is starting to build again for the next mini trend. Today will start on a down note. Nas 100 futures are down 27.75 (2.45%) to trade at 1105.25 and SPX futures are down 17.50 (2.06%) to trade at 831.50. The Asian/Pacific markets closed mostly […]