(For What It’s Worth) Update
As I outlined earlier today, it would appear my analysis (so far) is playing out precisely as I described. Here’s a close up of today’s final close of the same S&P 500™ E-mini futures after the complete session close today. To wit:
Now there’s only one reason, and one reason only, why I’m bothering to send this update at this juncture that you will not read anywhere else, and it’s this…
This is not the type of “market” price action one should feel comfortable with, where there’s such a big prime-time speech coming tonight by President Biden.
There are many ideas circulating on precisely what he may say in regards to the economy, more stimulus, more or less lock-downs, vaccine, masks, etc., etc., etc. The wrong wording, or the wrong implication, discussing further lock-downs and more could result in these “markets” reacting negatively, where it could cascade into something larger.
To reiterate: I am not saying it will. What I am saying is: If one wants to keep abreast of any possible hiccups that could transpire, I would be watching the reaction in the futures market when Asia is open and our markets open here in the U.S. beginning at 6:00pm EST. The President is scheduled to begin his appearance at somewhere around 8:00pm EST.
© 2021 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.