Category: Midday Reports
In previous reports, I've emphasized the importance of referring back to the June 2008 distribution in order to determine the next likely upside target for the S&P 500 in the context of this bull run. After all, everything north of 1370 is territory that has been uncharted for years. My immediate target is 1396.
Read the rest of entry »
Three potential rounding tops on the 60-min chart of the S&P 500.
Read the rest of entry »
The chart pattern continues to suggest the S&P 500 will reach 1370 before the start of a corrective reversal.
Read the rest of entry »
To the bears' dismay, this thesis has just been invalidated upon the DJIA breaching last year's high.
Read the rest of entry »
The chart suggests a flag-like countertrend rally that should set the stage for the next down leg after the FOMC meeting.
Read the rest of entry »
Expect the correction to be a deep and choppy affair...
Read the rest of entry »
I'm sounding overly skeptical because I don't believe the Fed will deliver a QE3 surprise...
Read the rest of entry »
I expressed my concerns about the bullish prospects of the contracting triangle that I had been tracking for a week...
Read the rest of entry »
A precipitous decline in jobless claims and an anticipated European interest rate cut were just the ingredients...
Read the rest of entry »
The bounce off today's low lacked the enthusiasm normally associated with reversals...
Read the rest of entry »