9
Mar
Posted in Announcements by Bob English |
This is a bit off topic, so apologies for the intrusion. A friend of ours runs a financial news site and is looking for contributors with a unique perspective on the markets. No pay, but the site gets a good amount of traffic and there would be links back to your existing web site. They will also help sell any premium products you have. Content can be a duplicate of what you are already producing on your site. If you’re interested, please respond directly to this email and we will pass along.
9
Mar
Posted in Intraday Analysis by Bob English |
10:46 am EDT: Equity futures are stronger today than we anticipated with the Nasdaq and Russell 2000 strongly outperforming, faciliated by the Dollar selling off before reaching our projected target. While the ES has encountered some resistance at the daily R1′s from 1139.75 to 1140.00, it could later hit the daily R1′s from 1142.25 to 1143.00. 1135.25 to 1136.00 is our preferred buy zone, but the ES may only manage a milder retracement to 1137.00 to 1138.00.
9
Mar
Posted in Pre-open Analysis by Bob English |
The Precise Take – Equity futures correcting mildly overnight into news vacuum
Leaders Analysis: Our focus is on the US Dollar, as it appears to be making a consolidating wedge formation on the daily rather than extending the down move initiated last week. Under the consolidation scenario, it should sell off when the index hits 81.00 to 81.25 by tomorrow, then find support between 80.00 to 80.25. If it breaks through these levels on a closing basis, a large move could get underway again, with equities following inversely. With the EuroYen down overnight and not quite yet to support, for today, the leaders are slightly equities bearish.
Medium Term Analysis: The ES is down overnight for the first time since late February, so it looks like equities will correct a bit before attempting to head higher. We mentioned the weekly pivot at 1126.50 as the likely target yesterday and stand by it. The rally is not in jeopardy, however, unless the value area centered around the 1118.00 high volume level gives way. With no scheduled news, traders will become introspective and question whether we have a double top on the weekly, which should turn sentiment bearish over the next few days unless the rally resumes. It is exactly this bearish sentiment that…
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