Another Slow Week Ahead?

The holiday week has many people checking out early and preparing to spend time with families.  That means that this can be a week of slow trading, but that can also set things up for the next directional moves when traders return to work. Lets see what happened on Monday...


SPX - Bounce today.  Will it blast off higher? See the wkend report. 

SPX 12-21 Read More

Digging Deeper

This is one of those weekend reports were there was a need to dip deeper and investigate several areas of the markets.  Why? In the last report you may recall that I discussed how the recent trading reminded me of riding the White Water Rapids. For example the SPX was up about 75 points for 3 days heading into the Fed Mtg, and then it dropped down about 70 points for  the next 2 days.  Gold rallied with the Fed Wednesday , sold off Thursday, and rebounded Friday.  Is there a waterfall ahead, or will this river smooth out?  Lets dig in for clues as to what may lie ahead.


SPX - I posted this wkly chart to show 'weakness' in the indicators that I was using. This would indicate that more downside was likely. 

SPX 12-17 wkly

Take a good look at this chart of the SPX.  Later in this report I will explain why it is important...

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White Water Rafting

If you have never been white water rafting and wondered what it would be like, you just experienced it if you have a position in the markets. Quickly climbing up one white wall and then splashing down the other side, it gets tough to hold on and tough to navigate. One cold splash after another, sometimes people are even tossed off.  That may not be a bad thing, because when rafting in uncharted areas, there may or may not be an unseen huge drop off up ahead. Lets take a look at the markets, and I'll point out what I see.


Note :  Today is Quadruple Witching. We will probably have some high volume moves today.

SPX WKLY - The weekly chart broke back below 2 key support areas and the blue line needs to hold here at 2000.

SPX 12-17 wkly Read More