May 2017

After the strong recovery by the end of the previous week, there came a bullish week that took out the Monthly High. The market is currently in a bullish setup made by a Follow Through model, and the target is the area level of 21550. Since Friday was an inside bar that didn’t manage to Read More

The passing week was the most volatile week lately, mainly thanks to the last Wednesday, as prices declined sharply towards strong support, where the last thrust down took place at last Thursday just to close the open gap below completely and to reverse back inside the previous range. The Weekly bar printed finally a sort Read More

The passing week has extended the consolidation range, starting exactly at the High of 3 weeks ago at 21010, extending to the down side, a bearish week -but closing above important moving averages like the Daily 50 SMA and the Weekly 8 EMA. The same bullish setup as mentioned in the passing week is still Read More

PREMARKET WORLD NEWS Jun E-mini S&Ps (ESM17 -0.04%) this morning are down -0.06% as they fell back from a record high in overnight trading and European stocks are down -0.52% as they retreated from a 1-1/2 year high. Stock prices initially rallied after pro-EU French presidential candidate Macron soundly defeated anti-EU candidate Le Pen with Read More

 The passing trading week was basically a consolidation week, extending its own range to the upside and the downside in a Megaphone pattern manner. Finally the Weekly bar closed as an inside bar. Taking out the Monthly High at 21010 is a bullish trigger to reach the level of 21250, at the Weekly upper Bollinger Read More

PREMARKET WORLD NEWS June E-mini S&Ps (ESM17 +0.05%) are little changed this morning ahead of the U.S. April payroll report and Sunday’s French presidential election. The Euro Stoxx 50 index is down -0.25% as European stocks have turned a little more cautious after Thursday’s exuberance with the +1.16% rally to a new 1-3/4 year high. Read More

PREMARKET WORLD NEWS June E-mini S&Ps (ESM17 +0.26%) this morning are trading mildly higher by +0.25% on carry-over support from strong European stocks. The markets are looking forward to a scheduled Obamacare repeal-and-replace vote today by the House. House Republican leaders say they have the votes but the vote count is expected to be close. Read More

PREMARKET WORLD NEWS Jun E-mini S&Ps (ESM17 -0.12%) this morning are trading mildly lower on a -2% overnight sell-off in Apple on disappointing quarterly earnings results as iPhone sales are being slowed as people wait for upgrades on new versions. The markets are waiting for outcome of today’s FOMC meeting, which is expected to produce Read More

PREMARKET WORLD NEWS Jun E-mini S&Ps (ESM17 -0.08%) this morning are trading slightly lower as the markets look ahead to the 2-day FOMC meeting that begins today and this coming Sunday’s French presidential election. European stocks are trading mildly higher by +0.22% after Monday’s holiday on positive earnings and a negotiation breakthrough on Greece. BP Read More

PREMARKET WORLD NEWS Jun E-mini S&Ps (ESM17 +0.19%) this morning are up +0.20% as a tentative deal by the U.S. Congress to avert a government shutdown gives equity prices a lift. European markets and most Asian markets are closed today for the Labor Day and May Day holidays. U.S. House and Senate members reached a Read More