Pattern of alternating days seems to be still in play. Therefore, it could be a positive day. Level to watch 4405 --- 4403 Report to watch: US:EIA Natural Gas Report 10:30 AM ET
Last several sessions market has been trading between buyers and sellers alternating days. If that pattern persists then today should be a down day. Level to watch 4406 --- 4404 Reports to watch: US: PMI Composite Final 9:45 AM ET US:ISM Services Index 10:00 AM ET US: EIA Petroleum Status Report 10:30 AM ET
This morning ETH session seems to be bullish since it is trading above Friday's High. Any test of Friday's High could provide direction for the day. Level to watch 4407 --- 4405 Reports to watch: US:PMI Manufacturing Final 9:45 AM ET US:ISM Manufacturing Index 10:00 AM ET US:Construction Spending 10:00 AM ET
Yesterday afternoon market sold off and it continued during ETH session. Market has a tendency to regress to its mean. Level to watch 4385 --- 4383 Reports to watch: US:Chicago PMI 9:45 AM ET US:Consumer Sentiment 10:00
Previous two consecutive sessions market has traded in a range and tested previous day's High. Any test of Yesterday's RTH session High could provide direction for the day. Level to watch 4402 --- 4400 Reports to watch: US:Pending Home Sales Index 10:00 AM ET US:EIA Natural Gas Report 10:30 AM ET
Since yesterday's morning sell off, market has rallied back to test HOD from yesterday. Any test of ETH session High could provide direction for the day. Level to watch 4400 --- 4398 Reports to watch: US: EIA Petroleum Status Report 10:30 AM ET US: FOMC Announcement 2:00 PM ET US:Fed Chair Press Conference 2:30 PM ET
ETH session price action suggests that we might have a range bound day. Any test of ETH Low could provide direction for the day. Level to watch 4406 --- 4404 Report to watch: US:Consumer Confidence 10:00 AM ET
Market has been rallying all week without any pullback. Any test of ETH session High could provide direction for the day. Level to watch 4380 --- 4378 Report to watch: US:PMI Composite Flash 9:45 AM ET
It seems that Bulls are in full control of this market. Bulls need to stay above yesterday's Close for this rally to continue. Level to watch 4345 ---- 4343 Reports to watch: US:Existing Home Sales 10:00 AM ET US:Leading Indicators 10:00 AM ET US: EIA Natural Gas Report 10:30 AM ET
Yesterday market has rallied to close the gap which was fast. Any test of ETH High could provide direction for the day. Level to watch 4326 --- 4324 Report to watch: US: EIA Petroleum Status Report 10:30 AM ET
ETH session market has been trading at upper range of yesterday's RTH session. Any test of ETH Low could provide direction for the day. Level to watch 4269 --- 4267
Sellers have been in full control since Friday's session; It is usually a good idea to check Fibonacci levels when markets are oversold. Any test of ETH session Low could provide direction for the day. Level to watch 4265 --- 4267 Report to watch: US:Housing Market Index 10:00 AM ET
Most of the week Sellers have been active during RTH session. For Bulls to take control, they will have to stay above ETH session High. Level to watch 4365 --- 4363 Reports to watch: US:Business Inventories 10:00 AM ET US:Consumer Sentiment 10:00 AM ET
Bulls have been very active during ETH session; for this rally to continue Bulls will need to take out yesterday's High. Any test of ETH high could provide direction for the day. Level to watch 4378 --- 4376 Reports to watch: US:EIA Petroleum Status Report 10:30 AM ET US:Beige Book 2:00 PM ET
This AM market sold off to test yesterday's Low. Any test of ETH session Low could provide direction for the day. Level to watch 4357 --- 4359
During ETH session Traders have tested, Fibonacci 50% level of Friday's session and started to bounce. For this uptrend to continue , Bulls will have to defend Friday's Close. Level to watch 4357 --- 4355
ETH session market has continued to rally from yesterday's Low. Any test of ETH session High could provide direction for the day. Level to watch 4336 ---- 4334
S&P is struggling to follow through after it reaches new ATH. Any test of ETH High could provide direction for the day. Level to watch 4341 --- 4339 Reports to watch: US:JOLTS 10:00 AM ET US: FOMC Minutes 2:00 PM ET