The Daily Market Forecast

Day Session Analysis:

World sentiment is BULLISH and we’re near all-time highs. GDP & Jobless Claims @ 8:30 should decide direction. Stats favor shorts running further than longs. 

S&P 500 Futures Critical Price Level: 4394/4398.50. We’re trading within/around/above the CPL (short edge below, long edge above).

The World Index (-100/100) jumps from +29 to +64 with all major world markets bullish (short edge).

Catalysts: GDP & Jobless Claims @ 8:30. Fed reassures spending won’t taper soon. Covid Delta continues to get notice with a return to MaskLife looming.

Trends: 60 min UP within a RANGE, daily up but “rounding” lower (short edge).

Chart: Inside day. Stat update shows LONGS have a subtle edge. Opening +0.10% (no edge). $TRIN XMA @ dropping to 1.12 shows a subtle buying trend (long term outlook: stay long).

Globex: The range of 22.50 (possible higher by the open) suggests a day session range around 38 points on a FALLING ATR of 40.73. Prior forecast around 40 points, actual 30.25.

Trade Well,

Mike Siewruk

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