DailyWatch – May 20th 2016

daily-watch-header

S&P futures are up 0.21% in morning trading
Crude oil futures are down 0.21%
Gold futures are up 0.10%
Bond Futures are down 0.29%

 

The S&P futures broke thru the 2030 level that we have been talking about for some time now, reaching 2022. The bears were not able to hold it, and the market closed back above 2030 and is currently trading at 2043. Continue reading “DailyWatch – May 20th 2016”

Daily Market Summary

S&P futures are up 047% in morning trading
Crude oil futures are up 1.21%
Bond Futures are down 0.15%
Gold Futures are up 0.83%

 

S&P futures firmly broke the 2080 level yesterday and have continued in overnight trading, now trading at 2096. The next resistance level will be 2110 then 2134. Last week we had a strong Monday and I wondered if we would have the continuation day on Tuesday where we go for the 2134 number. Typically, we will see a reversal of Monday’s action, turnaround Tuesday. Will the Bulls push it higher today? Watch for maybe a run to 2010 and then a reversal.

 

Crude Oil appears to be creating an “M” formation on the chart. We may see a pullback if it doesn’t break through 42.50.

Crude oil M pattern

 

 

Gold is trading at 1248. I am still looking for 1300 on gold near term. Look for GLD to hit mid to upper 20’s.

 

 

The market is climbing and the VIX is tanking. I promise this won’t last forever. We will let the program tells us when to turn bearish. Our target is 2131 on the SPX, just shy of the 2134 old high.

 

 

Stocks that entered State 1 yesterday:
EMN              EASTMAN CHEMICAL CO
ROST              ROSS STORES INC

Stocks that entered State 8 yesterday:

DNKN            DUNKIN BRANDS GROUP INC.
CVS                  CVS HEALTH CORPORATION

 

 

 

To learn more about our proprietary State Modeling and how to use it in your trading, visit us at Key2Options.com

Go to www.Key2Options.com to sign up for a membership.

#planyourtrade #options #trading

Capmark Solutions LLC and/or its principals and employees will accept no liability whatsoever for any loss arising from any use of the Key2Options program. The information contained in this blog, or in other related resources is for educational purposes only. Neither Capmark Solutions LLC nor Key2Options, Inc. offer trading advice of any kind.

Daily Market Summary

S&P futures are up 0.34 % in morning trading
Crude oil futures are up 0.33%
Gold futures are down 0.54%
Bond Futures are down 0.26%

 

And the grind continues. The S&P is stuck in a 40 point range between 2030 and 2070. The longer this continues the more likely we will see an explosive move either up or down. Our Volatility index is in State 8 which is bearish. Typically, we will see it stay there for 24 trading day. Presently, it has been there for 11 days, however it did reach its price target. Earning season is right around the corner, so we might see some movement in the major indexes soon. Key2Options will be hosting a webinar on how to play earnings season.  To register, please sign up at Key2Options webinar: Earnings Season

 

Stocks that entered State 1 yesterday:
GFI-Gold Fields LTD
MHFI- McGraw Hill Financial

Stocks that entered State 8 yesterday:
CFR- Cullen Frost Bankers
STI- SunTrust Banks

To learn more about our proprietary State Modeling and how to use it in your trading, visit us at Key2Options.com

Go to www.Key2Options.com to sign up for a membership.

#planyourtrade #options #trading

Capmark Solutions LLC and/or its principals and employees will accept no liability whatsoever for any loss arising from any use of the Key2Options program. The information contained in this blog, or in other related resources is for educational purposes only. Neither Capmark Solutions LLC nor Key2Options, Inc. offer trading advice of any kind.