Precipice

This is an unusual situation. Most probabilities are favoring weakness today though the daily market structure projection indicates some favorability for upward bias.

From a technical perspective, Transports and Utilities are near severely oversold areas where a bounce could be expected, which could bounce the broader indexes. However, when cross currents occur like this, the best to be expected is most often - chop. However, a break of 2097 on the cash market could be a serious problem and lead quickly to 2088 if broken.

7:00 am is key timing and 12:00 PM with possible inflection point for the day around 2:00 pm timing window. As long as 2097 can hold, then a retest of highs would be a probable outcome over the next days.

June 1st, 2015 Intraday Market Structure Projection

June 1st, 2015 Intraday Market Structure Projection

Daily Market Structure Projections indicated weakness Friday AM to Monday AM. This has occurred with implications for a potential rebound. Characteristically, a 1st of a month is a stronger bias than weaker. However, Monday's are indicated weakly biased today also to the intraday market structure probabilities leaning bearish. With these cross currents, its likely that chop is a high probability outcome.

One thing to keep in mind is that the daily market structure projections for AM to next AM directional bias have been on target at a very high levels lately, and they are seeing up into tomorrow AM. In a case like today with quite a lot of options. Keeping it simple is good, and the fact is, the Daily Projections have a very record. So, their upward bias for today (though my interpretation is for the higher probability of chop) should be taken into serious advisement.

May 29th, 2015 Daily & weekly Market Structure Projections

May 29th, 2015 Daily & weekly Market Structure Projections

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply