The bulls are on easy street with UTIL above 731.08. Going forward, you can tell that the upside stock market rally has additional legs higher if either SOX moves above 1246 or RTH above 104.26. The upside in equities may stall if the chips and retail stocks do not join the bullish party.
The bears need UTIL to drop below 731, CPER below 17.34, XLF below 26.79 and/or SPX below 2752. There are lots of moving parts in the market right now. The S&P 500 begins at 2760 so pay close attention to that 2752 level; bulls are happy above 2752 while bears will begin growling strongly under 2752.
Keybot prints two pre-scheduled numbers this week both on Friday morning. President's Trump and Xi agree to delay further implementation of increased tariffs so the markets should view that positively.
12/9/18; 7:00 PM EST =
12/7/18; 10:00 AM EST =
12/7/18; 9:00 AM EST =
12/2/18; 7:00 PM EST EOM = +10; signal line is -15
12/7/18; 10:00 AM EST =
12/7/18; 9:00 AM EST =
12/2/18; 7:00 PM EST EOM = +10; signal line is -15
11/30/18;
3:13 PM EST = +10; signal line is -16
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.