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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.


* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Art Deco Xmas Lady

Art Deco Xmas Lady



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Friday, April 06, 2018

SPX: It's All About Perspective...πŸ‘€

April 6 @ 11:30 am ET

A reminder from this post that 2625 and 2585 are important near/long-term support/resistance levels for the SPX...and that if 2585 failed to hold, a retest of 2460 was long overdue...or even an eventual decline to 2220...

April 6 @ 2:35 am ET

* UPDATE at today's close...today's low is a fraction above 2585...

Today's low is a fraction above 2585

As we've witnessed over the past months, the Fed's former "plunge-protection" program has been replaced by its rate-hiking policy and discontinued bond-buying program. This factor, combined with:
  • political uncertainty tied to the November mid-term Congressional election,
  • President Trump's tweets/threats of tariffs on billions of dollars worth of goods from China, and
  • today's comments from Secretary-Treasurer, Steve Mnuchin, "Well I didn't say it's not the beginning of one, I said that we're actually not in a trade war...but there is the potential of a trade war."
means that we will see volatility remain elevated throughout the year (as I had warned in my 2018 Market Forecast for 2018). No doubt, these factors (uncertainty about tariffs, rising interest rates/borrowing costs, and the potential for worse political gridlock) will place headwinds on businesses in determining wages, hiring, expansions, mergers & acquisitions, etc., and will blunt, to a certain extent, economic benefits that may have materialized from the Tax Cuts & Jobs Act that was passed by Congress late last year.

Throw into this mix: 
  • Mark Zuckerberg's revelation this week that most of Facebook's 2 billion users may have already been exposed to data scraping and "malicious actors," plus
  • the unknown fallout/consequences that FB and also other tech/social media and app providers/websites/platforms may experience over the coming weeks from their users, advertizers, a growing list of global regulators, and those with a variety of pending and potential lawsuits,
and you've got a potential recipe for a disaster in the making.

The following 1 YR charts of the FAANGs + 5 Tech stocks that make up FNGU show the volatility they've experienced this year (on accelerating downside rate-of-change)...that's not likely to abate anytime soon.