Once again, we come upon Fed week. This used to be a big event for the markets but once the Fed buried the interest rates at artificially low levels and held them there, it has been pretty dull for traders. Expect more of the same with this weeks announcement. This day will become prominent again [...]
The YM was able to take out its prior weekly swing high which indicates it wants to move much higher. The ES, however, has not confirmed this. The S&P 500, being made up of 500 companies, is the boss. It carries more weight than the Dow 30. So, while it is worth noting the YM’s [...]
The Dow and S&P (ES, YM) have closed above their MTPredictor Decision Point and Wave 4 resistance areas. If these highs get taken out, we could see much more upside in these markets. If they fail, then we could be testing the lows or near the lows down the road. Oil has hit its daily [...]
The YM hit the MTPredictor wave 5 down target last week. It then began the bounce higher off this area on its way to the wave 4 Decision Point resistance area starting at 11,600 – 12,000 area. The markets have also followed the earnings season and options expiration tendency to move higher. Now, we’ll see [...]
If you watch CNBC you might think that the bull market in gold has come to an end on this latest correction. A closer look at the bigger picture, however, reveals something quite different than the talking heads would lead you to believe. The Dow bounced last week off the wave 5 down support and [...]