Early Update – Lots of Charts and Info
12:46 p.m. ET Overnight gains were pared into the cash open. It may have been the fact that despite building...
Afternoon Update: Dovish & Hopeful Powell
The FOMC policy statement was a nothing burger, but as suspected in my Pre-FOMC Update, “Just knowing Powell and the...
FOMC Update – VERY Little Reaction
2:25 p.m. ET The Fed held the Fed Funds rate at 5.25% to 5.5% as expected. Probably the most notable...
Pre-FOMC Update
1:41 p.m. ET The FOMC (2 p.m. ET) is less than 20 minutes away. There is not a lot of...
Early Update – More Stagflationary Data Ahead of the FOMC
11:21 a.m. ET This morning we have more stagflationary data. S&P Global’s US Manufacturing PMI (survey) fell from 51.9 in...
Afternoon Update
Today’s economic data, even the historically little noticed tier 2 data such as we saw in pre-market, painted a clear...
Early Update – Stagflation Data
1 p.m. Since the open we’ve received more worrisome data pointing to heightened prospects for stagflation (stagnating/falling economic growth, coupled...
Afternoon Update
Most of the major averages have been consolidating last week’s gains since Friday afternoon… SPX (2m) However, the SPX/NDX are...
Intraday Update – Small Caps Outperform As The S&P Challenges Its 50-Day From Below
1:46 p.m. ET SP-500 +0.4%, Dow +0.35% (Transports +0.35%), NASDAQ-100 +0.45%, Small Caps +0.95% S&P-500 (daily) and 50-day There’s another...
Early Update – Consolidations Continue
11:45 a.m. ET Thursday afternoon and Friday, the averages started displaying consolidative activity of the week’s gains. This morning is...
Intraday Update – Cruise Control
1:42 p.m. ET For most of this week, and yesterday, I set-up my view of the highest probability outcome for...
Early Update – SPX and NDX Inverse H&S Bases Breakout
11:23 p.m. ET Microsoft and Alphabet are fueling this morning’s rebound action and are fueling some positive buzz about “AI”. ...
Afternoon Update
The S&P is taking on the shape of a small inverse Head and Shoulders base with this morning giving us...
NEM (Newmont Corp) Follow Up – Nice Breakout
2:08 p.m. ET I featured NEM yesterday after it came up in The Technical Take Discord room. Newmont was...
Early Update – SPX $5,000
12:01 p.m. ET The GDP report an absolute mess. We’ll have to see what the more accurate release of core-PCE...
Afternoon Update – Consolidations in the Averages
3:31 p.m. ET Overbought conditions like yesterday’s 1-day overbought internals signal will usually correct through price (pull back) or time...
Early Update – There’s A Lot To Be Aware Of This Morning
11:39 a.m. ET It looks like yesterday’s 1-day overbought internals were right on with what’s happening this morning. Outside of...
Intraday Update
3:24 p.m. ET The market looks pretty good today with advancers better than 6-to-1 margin at the NYSE and a...
Early Update – Oversold Bounce Follow Through
11:56 a.m. ET Sellers have backed away and CTa’s appear to be finished deleveraging instigated by their short-term price level...
Afternoon Update
The averages had a decent bounce today with broad participation typical of an oversold bonce, but all of the averages...