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$SPY got liquidated yesterday late afternoon and lost -1.99% to settle at 286.67. If the weakness is real then a follow through day should occur. $ES futures have been drifting higher all night and are up 0.6% (17 handles) as of now. The equity put/call ratio is hovering aroung 0.5, which calls for caution. Today investors await Federal Reserve Chairman...

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$SPY barely closed positive by 0.02% yesterday. Tech heavy Nasdaq was again strong as the index is well stacked with companaies that have increasing revenue stream from digitization in the coronavirus economy. $ES futures are up 12 handles as of now and are pointing to a higher open for $SPY. It is likely that the 292.93 at 61,6% retrace will be tested and...

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$SPY closed the week up 3.5% keeping the near-term uptrend for the markets. First 293 and then the 200 day moving average at 297.22 can be expected to be resistance. Support is at 288-290 band. $ES futures are trading down about 1% as markets get the jitters with Covid-19 reported in the West wing.

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$SPY had a very narrow range yesterday. US reported 20.5 million jobs lost last month. But $ES futures remain unfazed, up about 1.15% as of now. SPY broke through 286.5 yesterday, but mostly on overnight gap. During day trading SPY closed at the same level as it opened. Of the last 8 trading days yesterday was the 6th day on which $SPY did not close above the...

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$SPY was perking up yeserday morning but finshed down -0.68% as afternoon sellers overwhelmed. $ES futures are again higher by 38 handles as of now. However, the pattern has been higher in the morning and sell-off in the afternoon for the past 5 out of 7 days. Economic conditions are dismal. FED has injected massive liquidity and fresh addition of liquidity...

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$SPY was climbing steadily yesterday when it had a liquidation break late afternoon on comments by a FED member. $SPY closed up 0.92% $ES futures are again trading higher about 16 handles. Close ahove 286.5 can then target first 290, then 293. Close below 284 will put $SPY under pressure and target 280.

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$SPY was impressive yesterday after the shellacking last Friday. The $ES futures are 1.3% higher and the small caps futures up by 2.14% as of now. Though the indicators are showing divergence in this business only price pays. Above 286.5 close I will flip long. For educational purposes only. Not an investment advice.

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The 6 week rally from the low on Mar 23 appears to be digesting the gains or struggling for direction, as you see fit. $SPY ended lower for the week, down -2.65% on Friday on a very low volume day as most of the exchanges worldwide were closed for Labor day holiday. The critical 61.8% retrace and gap resistance is acting as a wall at present. The US markets...

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$SPY support is at 280 and resistance at 293. $SPY is struggling to get past 61.8% level of the sell-off but has not yet triggered a sell signal. Talk of progress in treatment or vaccine for Covid or a supportive tweet can jolt the market from is current lower drift. $SPY needs a bazooka from the FED to keep moving higher. But absent that stimulus #SPY is...

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$SPY jumped yesterday above the gap resistance with healthy gains in the other markets especially the small caps ($IWM) again putting up a stellar gain of 4.92%. $WTI oil is somewhat stabilizing which is supporting the beaten down energy names and banks who loan to this industry. Looking for $SPY to digest its gains at this level. $ES futures are down -18...

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$SPY opened higher than resistant but reversed and closed lower. No damage done to the intermediate term trend which remains positive and above 20 EMA. $ES Futures are pointing to a green open about 0.8% higher. GDP number and FED minutes today can influence and whipsaw the markets today.

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$S{Y 500 managed a minor breakout yesterday above the April high as it slowly grinds it way up to the 0.618 retrace tgt of 293. There is immediate resistance at gap above but $ES futures are again trading about .33% higher from yesterdays close. $SPY is now above its 50-day MA and if it takes out the gap resistance then 293 target remains viable. $WTI June...

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$SPY is range bound for the past 14 trading days. It remains above 20 EMA and hence constructive for the intermediate term. Next likely target is the 61.8 fib retrace at 293. $SPY closing below the 20 EMA may start the next leg down. CB's still firing bazookas with BoJ today declaring unlimited buying of government bonds and removed price momentum from its...

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$SPY was working its way higher in the morning yesterday before the markets were hit by Gilead treatment failure report. Though $ES futures were trading red in the evening the tone in the morning now is decidedly positive and $SPY looks like it will get through the pesky 280 level today. $SPY still consolidating in a range. Breakout in either direction will set...

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Not a great close yesterday as $SPY is not able to close above 280. Financials, an important sector, is under stress and trading poorly while tech "stay-at-home" economy stocks have the back of institutions, hedge funds, and momentum players. Bulls tried to reverse Tuesday's losses but did not make much headway and the volume was well below average. $SPY barely...

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The market has never gone down when job losses have been greater than 1 million. $SPY remains in intermediate uptrend as its above 20 EMA. $ES futures are again pointing to about a 3% higher open. Expecting two way trading today being a monthly options expiry day. Oil $WTI continues to crash but that does not seem to have an effect on the markets yet.

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#SPY did not give up much ground yesterday and remains above 20 EMA, so intermediate trend is bullish. #IWM, however, was very weak. As was $KRE and financials. Today is jobless claims report. Last two weeks the indices rocketed higher with job losses in the millions as FED came in with trillions $'s stimulus. Will FED announce ETF's buys this time as the job...

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The markets had another banner day yesterday with $SPY moving up 2.95%. The tech heavy $QQQ did one better, rocketing up 4.35%. But now, per SentimentTrader.com, their "$SPY Optimism Index has reached 98, the highest level in almost a decade. When short term optimism was this high in the past, the S&P usually pulled back in the short term". After 5 waves down,...