Chart of the Week – S&P Mini Futures
Hi traders, Licia Leslie here with your Chart of the Week. I have to revisit the S&P 500 E-mini futures because, while the headlines look like a total disaster, the charts are telling a much more nuanced story. We just came off back-to-back days of triple-digit drops, ending the week down a massive $162. But […]
The Bounce Is Getting Shorter
Hi Shoppers, As much as the president tries to rally the stock market, it keeps heading lower. Here's the action on his latest post, extending the pause on strikes against Iran's energy infrastructure to April 6: Futures rallied 60 points in one minute and another 10 in minute two before reversing and giving back […]
Not To Ruin Your Day… But
Hi Shoppers, So who knows what exactly is going on? Anyone? Bueller? Well, someone knew exactly what was going to happen to both the S&P 500 (ES) E-mini Futures and the Light Crude Oil (CL) Futures the moment Trump made his announcement Monday morning. He was going to wait five days before bombing Iran's power […]
What if your stock picks hit 97 percent of the time
Hi Shoppers, I am pretty sure you’ve all heard about Andrew’s new scanner he is calling Sibyl. Does anyone know what that stands for? A sibyl (also spelled sibyl or Sybil) was, in ancient Greek and Roman mythology and tradition, a female prophetess or oracle who delivered divine prophecies, often in a state of ecstatic […]
Bonds Just Broke and Nobody Saw It Coming
Hi Shoppers, I last wrote about that crazy candle on the two-year bond and how it could be signaling a change in the uptrend. Well, what it signaled was mass confusion, because bonds collapsed on Friday. Here is that same chart, which is the inverse showing the yield: Here is the iShares 20+ Year Treasury […]
Something Broke in the Bond Market today
Hi Shoppers, The S&P 500 (SPY) is sitting on the same support level it has bounced from three times now. Back in November, I argued the S&P was nearing a bottom at key pitchfork support that had held multiple times Each bounce got sold. Each rally was short-lived. And this time, the test is happening […]
Which Chart Is Actually Running the S&P
Hi Shoppers, Monday's S&P 500 rally looked like the all-clear signal. Big green candle, momentum indicators turning positive, buyers stepping back in with confidence. Don't fall for it. That rally didn't happen because the stock market found its footing. It happened because oil prices dropped for a few hours after Treasury Secretary Bessent hinted the […]
Will We Hold the 200 DMA?
Hi Shoppers, We have officially left my older pitchfork which goes back to Oct27, 2023! I know, crazy right? Here it is on the weekly chart: The last time this happened was the collapse last April. Zooming in on the daily chart, we closed right at the 200 day moving average with […]
What Is the Current Trend?
Hi Shoppers, The S&P 500 Emini Futures have been trading mostly sideways with a downtrend bias creating lower highs and lower lows: Zooming out, as long as we hold our pitchfork bottom support we are still in an overall uptrend, that hasn’t changed yet. We begin to trade below $6700, then we will trade down […]
Can’t Wait For Monday! Wait! What?
Hi Shoppers, Another trade … another winner!! As Mark Sebastian would say, “Go us!!” Haha! That always cracks me up. But yea, our APPL puts worked out pretty nicely. I myself paid $1.48 with 25 minutes left in the trading day. I sold them at the open for $2.23 for a 50% win. There were […]