SP500 FUTURES closed down. The market awaits Powell’s reassurance. Powell is expected to state the same comment: No inflation. Keep buying bonds. 0% interest rate. FED to maintain its dovish stance. More than likely, the indexes could move higher after the announcement. The S&P 500 closed a tiny bit in…
Month: April 2021
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SP 500 FUTURES Renko Chart above 4176 Resistance
Overview Not very much has changed since last Friday. The market sentiment is still cautiously bullish even though more and more people expect the market to correct soon. In today’s SP 500 Futures Renko char, it is apparent SP 500 Futures closed at a all time high. It cleared the…
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SP 500 FUTURES Building M or W – Bullish or Bearish?
Market was up, but turned lower because of the ‘tax-the-rich’ comment. Looks like a forced sell-off. Market is looking for a reason to correct. Nonetheless, I think the sell-off is short-lived. The overall market sentiment remains bullish. In addition, the ‘tax-the-rich‘ policy is difficult to get enforced. On the daily…
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SP 500 FUTURES Bullish Sentiment Should See 4110 Holding
The market was overbought, so the retreat appears to be normal. Despite this, the 4,110 support level appeared to be fairly firm. From here, the SP 500 should be able to recover. What a surprise. We had another down day. On the daily Renko chart, the RSI is falling like…
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S&P 500 FUTURES Daily Renko Chart 4/19/2021 – A Disappointing Widely Expected Pullback
Today’s pull back was insignificant although widely expected. The fall began on Sunday evening after the Asia open. It was gradual and slow and tiny. In the final half an hour before the New York close, it recovered 17 points rapidly amid a frenzy of buying yet again. RSI is at…