holiday update

SHORT TERM: futures rise, YM (DOW) +45

Overnight the Asian markets rose 0.6%. Europe opened higher but declined losing 0.2%. US markets were closed for the Memorial Day holiday. At the close of holiday futures trading ES (SPX) +6.50 and NQ (NDX) +15.0. Bonds lost 2 ticks, Crude rose 35 cents, Gold added $1.00, and the USD was lower. Tomorrow, Case-Shiller will be reported at 9:00, then Consumer confidence at 10:00.

Should the market open at current levels tomorrow it would be right in the first resistance zone between SPX 1324/28. The second zone is between SPX 1342/47. Support remains at the OEW 1313 and 1303 pivots. The market closed at SPX 1318 on friday. Best to your holiday and trading week!

MEDIUM TERM: downtrend may have bottomed

LONG TERM: bull market


About tony caldaro

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78 Responses to holiday update

  1. H D says:

    Time to give em “THE BUSINESS” imo 1324 is huge


  2. Lee X says:

    Hey Tony

    Did u get over 100 f over the weekend ?


  3. cmparis says:

    Hi Tony
    Your count seems to be different on the USD but could we be looking at a Wave 3 in action from 2011 low?
    Tx – Charlie


  4. rc1269 says:

    man, FB is brutal

    i thought that one would make a good short someday, just not this soon. i should have known when one of my former coworkers – the only one on the team who does *not* use facebook – got IPO shares. nobody who uses it actually bought shares.


  5. Lee X says:

    All I know is that I’m not paying over $3.00 for a corn dog this year at the State Fair{s}


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