Morning S&P 500 Brief

My previous remarks remain essentially unchanged at this time. We are poised on the same structure noted before (green arrow). Consumer sentiment survey is due out later this morning. It may be the catalyst the market needs to get the launch I continue to expect.

ES

If we don’t get it, I will have to suppose that we are in a Wyckoff channel of accumulation, and that we may bleed time off the clock until the FOMC meeting next week, remaining in a range, perhaps like this (though it would be sad to see such a beautiful inverse go to waste):

ES


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.


One thought on “Morning S&P 500 Brief”

Leave a Reply

Your email address will not be published. Required fields are marked *