The US dollar, Euro FX, copper, crude oil, tech, and healthcare round out where we can continue to find trends as the year winds to a close. There is unlikely to be a broad-cased rally so it is even more important to focus on relative outperformers.
The big picture trend for most charts is still well intact, but there are others that show short term patterns that could correct further. Keeping this in mind, I know perspective and patience are two of the most important things we can work on as we round out the year.
Quarterly expiration is upon us, and many of the nuances of witching expirations were out in full force. We’ll cover some of that tonight along with a few spreads to consider for the expiration, and an outlook into the next couple of weeks.
In this video we look at the crazy rip higher today from the FED meeting and Powell’s speech. We look at the charts and I only see one way to play this market and it is higher. We have had many head fakes but it looks like we reach up and tag some new all time highs. I show a trade idea for the end of the year and my SPX target of 4800 to 4900.
In this video we look at the crazy rip higher today from the FED meeting and Powell’s speech. We look at the charts and I only see one way to play this market and it is higher. We have had many head fakes but it looks like we reach up and tag some new all time highs and my SPX target of 4800 to 4900.
Santa’s good little elf, Jerome, seemed to have delivered today and the indices responded to the clarity of a May/June hike window. In the meantime, the Russell has bounces from its oversold Darvas level, and here’s the expectation for follow-through if you are a bull OR a bear.
The bellwether large cap index took off to the upside after today’s FOMC announcement and didn’t look back, taking out Friday’s high in the process. That likely implies taking out the all-time high from November, and we’ll look at how much more we might expect.
