Stocks look higher into end of week

FOR TUESDAY: (5/16) Well, stocks survived a long-range missile test by North Korean over the weekend and just really cared about another false promise from OPEC. We’re not seeing this market run out of steam until the end of the week so we assume that it will go higher. Our cycle work is at odds…


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Metals look lower on Friday

FOR FRIDAY: (5/12) More reports on Friday and lately Fridays have been friendly but the 29-day cycle is weak by 9-10 am and that may lead to a weekend profit-taking bout. Metals also look lower on Friday and it may be a dull pre-weekend affair.


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Favor stocks bouncing on Thursday

FOR THURSDAY: (5/11) We have a bias toward stocks bouncing on Thursday and would love to buy a pattern completion but still looking for 40 ticks off the highs on NQ and not sure what will create that. The dollar looks higher all week and that doesn’t jive with a 2-day bounce for gold, which…


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Favoring lower stocks on Wednesday

FOR WEDNESDAY: (5/10) We have a bias toward lower stocks on Wednesday but we don’t think the move higher will be over until next week. The dollar looks higher all week and that doesn’t jive with a 2-day bounce for gold. Luckily the news front is relatively clear compared to past weeks.


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Looking to buy the dollar

FOR TUESDAY: (5/9) Have to get into long dollars and short Euros tonight as we see a trend up on the dollar for about two weeks. Europe is still a mess. T-note patterns don’t look as great as we had thought on Friday so be defensive. S & P could squeak out a slight new…


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Dollar close to pattern completion at 9810

FOR MONDAY: (5/8) Since that Macron looks like a done deal with a 20% lead, the Euro should take off and push the dollar down and stocks may squeak higher. The issue is how long will it last and when will sell the fact hit? We are close to pattern completion on the dollar at…


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Short-covering probable for crude, dollar and metals

OR FRIDAY: (5/5) We found a larger cycle that’s creating skittishness in traders into the weekend and hopes for rallies that we had seen on many markets into Friday seem like dreams. Thinking we will get end of the week short-covering for crude and the dollar and metals before the French election and metals look…


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Larger cycles suggest skittish trading

FOR THURSDAY: (5/4) We found a larger cycle that’s creating skittishness in traders into the weekend and hopes for rallies that we had seen on many markets into Friday seem like dreams. Many markets are oversold and there were key turns due at the FOMC announcement and that has us wondering. Let’s see how the…


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Weaker dollars, stronger gold ahead

FOR WEDNESDAY: (5/3) Trade awaiting FOMC announcement on Wednesday. With the Fed unlikely to hike again this time, if we get a somewhat hawkish tone today, or even praises on the labor condition, rest assure market will blow it out of proportion and push USD higher. Given the recent GDP print for 1st quarter, it…


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Stocks still positive

FOR TUESDAY: (5/2) Trade waiting for FOMC on Wednesday but is already buying the Congressional confirmation of a budgetary settlement until Oct. 1st. There’s still too much going on with North Korea and saber-rattling but cycles for stocks are still positive until the end of the month so “what me worry.” Could see the buy…


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