SHORT-TERM: CLUELESS, LET’S SEE TOMORROW
Clueless today, need see tomorrow. The main purpose of this post is to test the new format. Starting from today, the after bell report will focus on trading signals while the night’s report on analysis only so if you wonder where are those models, well, check 04/25 Trading Signals.
Basically, I believe the odds for going up are little bit higher. The reason is the Ascending Triangle shown on 1.0.0 S&P 500 SPDRs (SPY 60 min). Besides, FOMC is on 04/27, which usually means the market would be up until then.
On the other hand, the 2 Doji bars on 0.1.0 SPY Short-term Trading Signals do not look good so it’s also possible that we see further pullback tomorrow, especially if you still remember the conclusion I made in 04/21 Market Recap that SPX would soon close below its 04/20 close at least.
If the market keeps pullback tomorrow, pay attention to CPCE trend line in chart 0.0.2 Combined Intermediate-term Trading Signals. Breakout and hold until Wednesday would mean a top of some kind.
INTERMEDIATE-TERM: SPX TARGET 1352 TO 1381
See 04/21 Market Recap for more details.
SEASONALITY: BEARISH MONDAY, THURSDAY AND FRIDAY, BULLISH WEDNESDAY
See 04/21 Market Recap for more details.
ACTIVE BULLISH OUTLOOKS:
- 09/27 Market Recap: 9 POMO within 20 trading days means 14%+ up in 3 months.
- 02/23 Market Recap: Pullback could last 4 weeks, then 02/18 highs will be revisited.
- 03/11 Market Recap: Bullish in 3 to 6 months.
- 04/01 Market Recap: Bullish April.
ACTIVE BEARISH OUTLOOKS:
- 03/18 Market Recap: 03/16 lows will be revisited.
- 04/21 Market Recap: SPX will at least close below 04/20 close.