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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0650.ET
World Markets are mostly Down while US Markets/Futures are currently Up slightly.
QQQQ/SPY are currently Trading at 45.93 / 113.93
The US-Dollar is Down some .. under 77.0 right now.

There are No big Economic Events out this morning . . . at 1400.ET there are the FED Beige Book notes being released.

45.50 < QQQQ < 46.00 is the broad Support/Resistance Range for today . . .
See chart-2 from last night for January-OE Pivot-Levels = further Support/Resistance details.

AMC Commentary [protect]

The Market Opened and moved Down this morning until about 1030.ET . . . then it went Up all day . . . the bottom of the Range I Posted this morning (ab0ve) acted as Strong Support again and the overhead Resistance was Strongly broken (see the Chart below) . . . however, with earnings Season upon us and Big news coming out the next two days, the Market can move Strongly in either direction from here.

This Chart shows the bigger (Daily) picture . . . today’s move only filled in the Open Gap … it did not make new recent highs:

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0630.ET
World and US Markets/Futures are currently Down Big.
QQQQ/SPY are currently Trading at 46.02/ 113.88
The US-Dollar is Up 0.20% .. nicely above 77.0 right now.

There are Big Economic Event out this morning starting at 0745.ET. . . all BMO, these Reports will shape Trading today.

See chart-2 from last night for January-OE Pivot-Levels = Support/Resistance.

AMC Commentary [protect]

A surprisingly Down day today .. that held fairly Down into the Close . . . that could be read as Bearish, but look at the following:

1 -this 60-min S&P-500 Chart shows that today was a pull-back to a Strong Up-trend and then a Bounce . . it would be healthy & Bullish if it rallies higher tomorrow:

2 -the January Monthly OE Pivots once again show nice predictive power . . . the MACD indicator DID turn Down and the next lower Pivot-Level DID act like a great magnet (Target) . . . stopping the fall:

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0800.ET
World and US Markets/Futures are Up.
QQQQ/SPY are currently Trading at 46.63/ 115.02
The US-Dollar is Down 0.75% .. near 77.0 right now.

No Big Economic Event out this morning . . . watch out for a drift higher all day.

See chart-2 from January-6 Post for January-OE Pivot-Levels = Support/Resistance.

AMC Commentary [protect]

Well . . some of the actuality of the bad fundamentals of the global economy caught up today with real Stock-Market price movements . . and we were Down most of the day until moving back Up in the afternoon to lessen the losses.

1 – this 5-min QQQQ Chart shows how early action predicted the rest of the day . . the high-Volume bars just after 10:00 showed me where a bottom should be for the day . . . so it kept me from jumping into Down-positions on the big drop and had me looking to enter Up positions . . . though I just decided to wait until tomorrow morning .. when I best like to Trade (in the first hour of Trading):

2 -I am just re-posting this Daily QQQQ Chart of January OE Pivots originally Annotated a few days ago .. to show how “right on” those comments are and how things have played out . . . . we got our continued pinching to roll Down indicators and the continued Resistance of that R2 level . . . use that R2 level to decide whether to be a Bull or a Bear .. Closing above or below it respectively:

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0910.ET
World and US Markets/Futures are Down some.
QQQQ/SPY are currently Trading at 46.01/ 113.82
The US-Dollar is Down 0.5% .. under 78 right now.
See last night’s AMC Commentary for QQQQ Targets.

The Big Economic Event out this morning was the Jobs Numbers . . weaker than expected … so we’ll Open Down, but watch for a Rally after the morning weakness.

AMC Commentary [protect]

Exactly as predicted . . . Opened weaker . . . then rallied higher the rest of the day. QQQQ reached its High-Of-Day (HOD) and Closed there . . very Bullish . . . but still right at that important 46.5x level.  Watch Monday’s action for the next direction.

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0740.ET
World and US Markets/Futures are Down some.
QQQQ/SPY are currently Trading at 46.07/ 113.30
The US-Dollar is Up 0.60% .. nicely over 78 right now.
See last night’s AMC Commentary for QQQQ Targets.

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

Techs appear to be the weak sister lately.

AMC Commentary [protect]

A fairly flat-ending day . . . straight Down and stayed Down some all day … then back Up to near Unchanged to Close.

After Hours was/is kind of flat as well . . . tomorrow morning at 0830.ET is the BIG event . . . the Jobs Numbers . . . I am expecting some “not bad” numbers . . . so I expect an Up Opening and movement into the morning . . . but unless the numbers are really UP, I then expect a fall back Down to the Lows of the day near 46.00

Remember not to chase the price higher unless there is a real reason to . . . use our 15-min Charts to get a “bigger picture” view of how Strong a move is and don’t forget to monitor the most important indicator .. Volume! . . . and make sure price moves after the Volume . . if not, a reversal is being forecast after the Volume bar(s).

Here was a quick and easy Day-Trade today . . . just using Volume spikes, price movement (stalls), and CCIs:

NOTE: this Trade was over +20% Profits using QQQQ Put Options!

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
World Markets are mixed +/- 0.3% . . US Futures are Down some.
QQQQ/SPY are currently Trading at 46.23 / 113.23
The US-Dollar is Up 0.25% .. over 78 right now.
See last night’s AMC Commentary for QQQQ Targets.

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

I am expecting some good employment numbers (like the Challenger ones already this morning) from ADP at 0830.ET and the Jobs Numbers on Friday. This should keep the Markets afloat and running higher . . but watch for the actual numbers before jumping in.

AMC Commentary . . later tonight . . [protect]

Some good action today . . finally getting some Down action which would be healthy for the overall Markets.
Today’s Annotated Charts:

1 – for the Day-Traders: some nice action to the Down-side with good VVST- and VST- Signals:

2 – here’s an updated-for-January Monthly Options Expiration Pivot-Levels . . . the move Up so far this OE Month has been fairly extreme . . hitting that 5% move Resistance:

3 – our Long-Term Pivot-Levels have been very important over the past year . . . notice how in the past three Trading Sessions, that next overhead Pivot-Level has been attacked each time, but never surpassed . . . should the breach of that level (46.53) not happen soon, I expect a fall Down to the previous one below . . and then we’ll watch again for which one is next:

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BMO Commentary Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0725.ET
Pacific Markets are Up big and European Markets are Mixed.
US Markets/Futures are Flat right now.
Precious Metals and Energies are Flat and the US-Dollar is Down slightly right now.
QQQQ / SPY are now Trading at: 46.42 / 113.30

There are Big Economic Events out today starting at 0745.ET

Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

A day of consolidation . . . Up, Down, Up .. to Close unchanged.  Premium on my Short January options decayed some more (more value to me) … while my Long February options decayed less (why I do Calendar spreads).

This Daily QQQQ Chart shows the lack of follow-through higher after Monday’s Big Up move . . . the CCI(13) turning Down early warns of a potential move Down for QQQQ . . maybe back Down to the red 8-ma line for starters .. and then possibly retesting the 45.50 area:

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0725.ET
Pacific Markets are Up and European Markets are Up Big.
US Markets/Futures are Up big right now.
Precious Metals and Energies are Up big and the US-Dollar is Down right now.
QQQQ / SPY are now Trading at: 46.20 / 112.17

There are Big Economic Events out today starting at 1000.ET … the ISM Mfg. Index will drive prices this morning!

Happy New Year!
It will take me a few days to get back up to speed on Support/Resistance levels and QQQQ/SPY Analysis after the long Holiday.

Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

QQQQ stayed Up all day . . leaving a Gap below it from where it Opened . . . as seen in the Daily Chart below, QQQQ ran Up right near the next Long-Term Pivot-Level of 46.53 and went sideways . . . we’ll watch tomorrow for a fall of if it runs Up to the next level of 46.73:

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