The S&P 500 futures are trying to get above the top of their range at 3804. The last hourly candle closed above it and we're seeing relative strength from the Russell 2000, Nikkei 225, and other indices here in the US and around the globe. Testing the waters here if I can get an entry at 3805 and look for upside towards 3855 over the coming hours/days. My stop is...
Some good news out of china overnight send the market up with a little spike. We are ranging near the value high and wold expect this market to continue in this direction,but we may need to dip into value first. I would continue to be long, and although there will be some short opportunities, make sure you are not overstaying them!
Good morning from Colombia! We are at ATH again, and we continue to accept higher. Listen to that again, we continue to accept higher prices. The market is NOT showing any signs at this point, so you have to be long, IMO. The market is stretched overnight on low volume, so I'll wait for low 70's.
Now the pullback has begun as we are starting to accept some prices lower and the buyers were flushed out from the latest balance area. I'm looking for a retest of 78 above, and below 62-60 area becomes the line in the sand for buyers. If we fall though, I would expect us to drop pretty quickly towards the 40's. Of course, this is barring any trade report...