Early Update – Measured Moves Hit, Extreme Oversold
11:41 a.m. ET All of the downside measured moves/target levels posted Friday morning, like SPX $5150, have either been met,...
Afternoon Update – Weak Consolidations Starting To Form
Weakness in mega caps after earnings reports from Apple (AAPL) and Amazon.com (AMZN) Downside follow-through as the possibility of a...
Intraday Update – Technical Support
11:42 a.m. ET We may get one of those consolidations I mentioned sooner than later. The S&P-500 reached its 100-day...
Target Levels
11:08 a.m. ET Ugly day/week… SP-500 -2.65%, Dow -2.3% (Dow Transports -3.6%), NASDAQ-100 -3%, Small Caps -4.1% Earlier this week...
And It’s Gone – Yesterday’s Gains, Small Cap’s Rotation, The Dow’s Breakout – All of It!
2:50 p.m. ET There was a lot of bad economic data this morning (notice that bad news is no longer...
Early Update – VERY UGLY Across the Board
11:05 a.m. ET Index futures overnight trade had a shaky tone about them, especially those that should have looked the...
Afternoon Update
As is always the case, Powell’s press conference was much more dovish than the FOMC policy statement. Over the next...
Watching Powell Dove Things Up
2:56 p.m. ET As I just posted in the Technical Take’s Discord Room… And that alone, has pushed Small Caps...
FOMC Policy Statement: Less Dovish Than Hoped
2:23 p.m. Et While the Fed wasn’t likely to surprise with a rate cut, being the market has a 100%...
Semis Lead An Oversold-Type Bounce
12:43 p.m. ET Today is one of those absolute, turn the market on its head, flip flops. The S&P and...
Afternoon Update – Microsoft on Deck
The SPX’s, and more so the NASDAQ’s, price action doesn’t look good. Another sharp drop in the Dollar-Yen carry trade...
Tech Wreck – Carry Trade Chaos
1:57 p.m. ET There’s so much happening today ahead of MSFT earnings after the bell, it’s difficult to keep up....
Market Update
2:58 p.m. ET The S&P 500 (+0.1%), NASDAQ-100 (+0.15%), and Dow Jones Industrial Average (-0.1%) are off their best levels...
A Close Look At the Major Averages
12:00 p.m. ET Of course we don’t know what this busy week of earnings and data is going to bring,...
Afternoon Update
Next week is arguably the busiest week of the summer with 40% of S&P market cap reporting earnings and 4...
Another Test?
We have all 11 S&P sectors in the green and advancers a good 4-to-1 over decliners, but there’s a decent...
Early Update – May Be Getting The Structre
10:58 a.m. ET Earlier this week I talked about the market putting in some price structure that successfully tests lows...
Afternoon Update
The averages have pulled back quite a bit off their best levels of the day. The NASDAQ-100 is back below...
One Day Oversold
12:40 In yesterday’s Daily Wrap Summary, I wrote, “there’s a strong argument for a weak open tomorrow. However, we also...
Afternoon Update
I’ve done some digging today and found the short-term CTA levels. CTA short-term levels for the NASDAQ-100 ($19,608 in the...