DanGramza

01:31

DanGramza

After the release of the CPI data on Wednesday buying momentum is picking up in the S&P 500. The expectation is follow through to the upside but not a large move on Thursday.

02:09

DanGramza

Buyers returned in the S&P 500 waiting for the next challenge which is the release of the CPI numbers on Wednesday. The bias is for the market to continue higher but how it interprets and absorbs the CPI numbers is 50-50.

01:39

DanGramza

Waiting for the CPI and PPI this week to drive the direction for the S&P 500. Although sellers came in on Friday and Monday, currently this market has a neutral opening with a bias to the upside.

01:42

DanGramza

Can the sellers that appeared in Friday session in the S&P 500 follow through to the downside on Monday or was the selling buyer selling to take profits before the weekend. Monday's price action will give us answers to these questions.

01:43

DanGramza

The structure on Thursday in the S&P 500 daily chart implies the possibility of a strong close on Friday as we go into the weekend. Ideally would be a close above 5260 to 5265

02:08

DanGramza

The structure in the S&P 500 for the last couple of days is actually a neutral zone trade which implies a sideways move however the structure on Wednesday implies a bias for moved to the upside on Thursday.

00:51

DanGramza

The smaller range on Tuesday in the S&P 500 implies a loss of momentum and the market catching its breath. This structure means that if you're on the long side be cautious. The expectation is for sideways move.

01:04

DanGramza

It appears that the S&P 500 price action indicates the market is adjusting to the outlook that interest rate cuts may happen later in the year. The expectation would be another day higher on Tuesday but not a large range. The estimate for the high would be 5225 to 2530.

02:07

DanGramza

Although there was a strong move on Friday, a small positive up range is expected for Monday in the S&P 500.

01:45

DanGramza

Can the buyers that appeared in the S&P 500 on Thursday continue its momentum up with a stronger close on Friday. This could be a challenge with the softer opening in the Asia session.

02:57

DanGramza

After the volatility seen on Wednesday in the S&P 500, the expectation is that Thursday will be a day for the market to catch its breath before labor numbers come out on Friday. This means trading inside Wednesday's range on Thursday.

03:08

DanGramza

With the Fed making announcement on Wednesday, volatility would be expected in the S&P 500. A change in the feds attitude towards interest rates being high longer is not expected.

02:56

DanGramza

In the S&P 500, a quiet day is expected on Tuesday as the market focuses on Fed commentary coming out on Wednesday.

04:13

DanGramza

Although there was a rally later in the day in the S&P 500 which implies buyers moving the market higher going into the close. The overall structure for Friday implies caution if you are on the long side. It's important that the market does not return to Friday's Lows on Monday to maintain momentum for continuation to new highs.

02:05

DanGramza

The PCE numbers coming out on Friday can set the tone for the S&P 500 not only for Friday's action but week as well. How the market will respond is 50-50.

01:28

DanGramza

Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.

01:24

DanGramza

Earnings may push the S&P 500 higher on Wednesday. 5135 would be the next price objective that you'd want the market to close above.

01:37

DanGramza

The S&P 500 is in the neutral zone trade with a bullish bias. The expectation for Tuesday is for today range trading inside of Monday's range with a higher close.