Forecasts & Analysis

It’s a bearish start to the day for the majors. Failure to move through the day’s pivot levels would deliver another day in the red.

The trigger point for an upside breakout is $1983.80. On the downside, taking out $1938.20 could trigger an acceleration to the downside.

Tech and momentum stocks could face even more volatility as we near the close as options on individual stocks, ETFs and indexes expire Friday.  

A new storm forms in the Gulf of Mexico

The direction of the December E-mini Dow Jones Industrial Average futures contract is likely to be determined by trader reaction to 27520.

Gold prices moved higher on Friday finishing the week up 2.6% as the dollar moved lower and US yields declined. This week was full of several data points that were mixed. While Housing starts were worse than expected, jobless claims and consumer sentiment were better than expected. The Fed met

The S&P 500 has tried to rally during the week but has given back the gains just above 3400. It is only a matter of time before we get some momentum.

Crude oil markets rallied quite nicely for the week, bouncing from a couple of bad ones. That being said, we still have not broken above resistance.

The S&P 500 tried to rally on Friday but as you can see gave back the gains. It looks as if we are trying to support this market at the same area again.

Crude oil markets were treading water heading into the weekend, as we continue to see a lot of questions as to whether or not we can continue going higher.