Several years ago on Meet the Press, former Federal Reserve Chairman Alan Greenspan made the comment that the Fed would not allow the markets to be the straw that breaks the back of the economic recovery. Three Quantitative eases later (call them what you will) and you would have to say up to this point, [...]
The markets (YM and ES) have not been able to trade above 12,228 and 1289.25 respectively. These were the numbers I gave a couple of weeks ago that, if hit, should trigger the markets higher. The failure to hit them over the last couple of weeks has led to consolidation and lower moves for these [...]
The YM and ES have yet to hit the numbers I spoke about last week. They have edged closer but as of Friday’s close last week, they have fallen short. We will see if they make a run for them this week. If so, then I think the run into the end of the year [...]
So far the YM and ES have not been able to trade above those areas I pointed out in last weeks video. Until they can, don’t expect any significant upside. In fact, we may see lower prices if they cannot trade above those numbers. If they can, however, then I expect that we will eventually [...]
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 [...]