Sunday Wrap

Futures are currently lower. Nazz -.04%, S&P futures -.05% at 1865 Dow futures -.045%. The SPX is now down about 5.5% from the intraday highs to Fridays close. The daily charts have snapped, so looking at the weekly charts is probably more constructive at this point. Short term support is  1901 and 1869, with resistance [...]

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Midday Update

October is here, and volatility is back in a big way. The Volatility Index (VIX) popped back up above 22 this morning to a fresh, 52-week high, which shows that the “risk off” trade is clearly back in play. The broader stock market is relatively flat at midday, although the tech-rich Nasdaq is off about [...]

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Thursday Market Wrap

For the day the SPX/DOW were +1.70%, and the NDX/NAZ were +2.00%. Bonds gained 18 ticks, Crude lost $1.20, Gold rose $12, and the USD was lower. Medium term support jumps back up to the 1956 and 1929 pivots, with resistance at the 1973 and 2019 pivots. Tomorrow: weekly Jobless claims at 8:30, then Wholesale [...]

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Tuesday Market Wrap

Hard to sugar coat this one. The underpinnings seemed to snap today as stocks ran lower.  It is possible that they want to go down and retest last week’s lows (SPX 1926 intraday)  and run it higher again.  This remains to be seen.  For the day the SPX/DOW were -1.55%, and the NDX/NAZ were -1.50%. [...]

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Monday Market Wrap

For the day the SPX/DOW were -0.15%, and the NDX/NAZ were -0.35%. Bonds gained 9 ticks, Crude rose 70 cents, Gold rallied $14, and the USD was lower.  As for the SPX, today’s pullback to 1958 was 20 points from the morning high.  Here are the current support/resistance levels. Support- 1956-1929 Resistance- 1972-1985 SPLK triggered then pulled [...]

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Things That Made Us Scared

OMG what a pullback. Gimme a break. We worried about: 1- Hong Kong….Hong Kong, really? Heads were never rolling in the town square and the police have giant water hoses and tanks if they did. The peeps don’t mess with the government in China. 2- Everyone waited for the jobs number. It was fine. 3- [...]

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