Today, Tomorrow, and the Next

Wednesday, Fed day, the S&P put in a misplaced topping candle, which is a bullish candle when located near the bottom of an extended selloff.
For tomorrow,

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Today, Tomorrow, and the Next

The markets have put in 2 consecutive doji candles on Monday and Tuesday ahead of Wednesday’s Fed meeting.

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Today, Tomorrow, and the Next

The market paused Monday on light volume after Friday’s big selloff.

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Today, Tomorrow, and the Next

On Friday, which was options expiration, the S&P fell 25 points on strong volume to close at 1318.

This move lower took out the 1335 and 1327 support levels in style, with the ES not breaking above the 20 moving average all day.
Although this move lower must be respected, it must be [...]

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Today, Tomorrow, and the Next

Today, the S&P managed a gain of 5 points to 1343.

We saw the markets trading in a descending triangle pattern for most of the day until a WV pattern took the market above resistance.

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Today, Tomorrow, and the Next

Today, the markets sold off on respectable volume to close lower by 13 points to 1338.

Interesting to note that the market saw considerable accumulation every time the price approached 1335.

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Today, Tomorrow, and the Next

After Monday’s light volume doji candle, the S&P fell 9 points today to close at 1351.

Pre-Market, the S&P rallied into the major 1370 resistance level on light volume. This was a high percentage short opportunity confirmed by a MACD bearish divergence.
The market sold off on rather light volume to close at [...]

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Today, Tomorrow, and the Next

The S&P paused today on very light volume, forming a doji candle. The market was on hold heading into tomorrow’s earnings report from Goldman Sachs (GS) before the bell.
We are neutral on the market tomorrow, with a small bias to the downside.

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Today, Tomorrow, and the Next

The S&P saw a nice bounce Friday, closing up 20 points to the 1360 level. We called the rally after Thursday’s misplaced topping candle and MACD bullish divergence.
We are neutral on the market heading into next week. A test of resistance at 1370 would not surprise us Monday or Tuesday.

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Today, Tomorrow, and the Next

Today, the market rallied in the morning, gave back all its gains, and then rallied off the lows to close near 1340. Basically, there was a lot of movement, but not much change in price. The candle looks like a topping candle, but is located near the bottom of an extended [...]

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