Last week we discussed and made a case for support against Friday’s lows. Today the market spoke to the support and bids for higher. The natural question now is could there be more to this leg of the move? Honestly, it looks like there could indeed, so let’s look into it in tonight’s market update.
I don’t see a lot that I’m excited about but there are a few things that have my attention. SPX to 3800 is one of them. Coffee, Cattle, and Crude are a few more. Let’s take a look in tonight’s market update.
When many forms of analysis all point to the same level, I perk up and pay attention. Many things I’m watching are all telling me that there’s an important decision at 3800.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Market has come down to the decision point for the Final Act. In this video I show you the path that I believe is setting up into the end of the year.
Earnings season kicked off in high gear today with a fair number of majors reporting. It continues Monday & Tuesday to pretty well wrap up the financials as we then head into OPEX at the end of the week. While that is going on, did anyone notice the major swings in the SPX? This is something that we need to get into tonight and prepare for what may lie ahead.
In this video I discuss what oversold conditions could mean for next week. Next Monday is important because we need to observe it as one more day for bears to flush out and take profits. If this is achieved, I think we have oversold conditions at the ripe time of a fresh new earnings cycle. I’m expecting a bounce.
Dollar strength has been a key theme of this market for some time, but I don’t think it’s going anywhere and these asset classes are the next to be impacted.
