Yesterday’s mind-bending rally made very little sense except for the fact that it both washed out many more weak bears and resulted in a more logical placement of ES’ downside target. I’ll explain. continued for members… … continue reading →
Tag Archives: futures
Futures are hanging on to a 4-pt gain, primarily on a continuing decline in VIX. With Jackson Hole coming up, we could see more volatility — particularly if Fed speakers back off their hiking schedule. Speaking of backing off…TSLA is back down to its horizontal and trend line support. As readers will recall, this is a … continue reading →
After allowing a six-session slump (that saw SPX nail our downside target), The Powers That Be can be forgiven for insisting on an overnight ramp job.Last night, it was USDJPY pushing through horizontal resistance, VIX getting clobbered through three separate moving averages, and oil continuing a nice bounce off our 48.63 target. It should be enough … continue reading →