From the Desk of Kimmy Sokoloff
The S&P futures broke below 3,950, and now they’re riding the eight-day moving average at 3,930.
So far, this is a healthy contraction, one that I’ve been looking for.
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Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The S&P futures broke below 3,950, and now they’re riding the eight-day moving average at 3,930.
So far, this is a healthy contraction, one that I’ve been looking for.
[Read more…]
by David
From the Desk of Kimmy Sokoloff
What a day.
The market pulled in from this morning’s economic data, plus news out on semiconductors didn’t help, either.
by David
From the Desk of Kimmy Sokoloff
Looks like we’re heading for a flat open for the market as I write this morning.
We’re still hovering near the $SPX 4,000 level. Resistance is at 4,037, then 4,062.
by David
From the Desk of Kimmy Sokoloff
The market was holding steady until a news report took the $SPX down to roughly 3,950.
That news report was later negated, and now we’re back to where we started the day near the 4,000 level.
by David
From the Desk of Kimmy Sokoloff
The market dipped in the last hour or so yesterday, though $SPY managed to close above 395.
We’ve seen a big bounce this morning, and we’re back at the top of the range at 399.
by David
From the Desk of Kimmy Sokoloff
The indices consolidated most of the day.
And that’s healthy.
by David
From the Desk of Kimmy Sokoloff
Last week was pretty powerful. The indices moved like they were being chased by a bull.
We did hit $SPX 4,000. A slight pause with support at 3,973 would be healthy. Should this level hold, then we can see 4,037.
by David
From the Desk of Kimmy Sokoloff
Well over a month ago, J.C. and I talked in the live trading room about a “W” pattern forming in $SPY.
This pattern is still intact. The measured move I have on SPY, should this pattern hold, is roughly at the 407 to 410 level.
I only made one trade today, but I called out multiple setups in the room.