Founder & CEO of AscalonVI Capital. 17-year NYSE veteran, Chartered Market Technician (CMT). Frequent contributor on Fox Business, Newsmax, and CNN. Co-host of Policy & Profits podcast.
News
Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index was up 53bps yesterday, hitting a high of 5963 and closing at 5948. Keep in mind the support resistance range in focus has been 5864/5947. So, price action during yesterday’s session produced
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index closed the day essentially flat at 5917. The Index did test support at 5864 for the fourth consecutive session (see chart) but held and rallied into the close. I remain focused on the support/
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index closed yesterday’s session up 40bps at 5916. The Index was weak early in the session as I expected, breaking below support at 5864 and hitting a low of 5855. This low essentially matched
News
Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index closed the session +39bps at 5893. More importantly, the Index was able to hold the previously identified support level at 5864 on both an intra-day and closing basis. Despite that win, momentum continued to
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX Index gapped down on Friday and faded for the entire session. The Index opened at 5912, hit a low of 5853 and closed at 5870. Once again, this price action was right in line with
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index acted exactly as expected, fading yesterday -61bps to close at 5949. On Nov 8 I wrote that “On a trading basis I am looking for retracements within this move higher and would look for
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 5) The SPX Index was essentially flat on the session with intraday price action and internals telling a much more interesting story. The day was one of complete indecision with a high/low spread of 43 points and
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) The SPX Index was negative for the first session since Nov 5 with a minor loss of 29bps, closing at 5983. Of greater significance, the Index has now stalled the past three sessions in a tight range
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index gained a modest 10bps during yesterday’s session, closing at 6001. This marks the first close above the 6000 level for the Index and the fourth consecutive all-time closing high. That said, the day
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 2) The SPX Index added to the Trump Rally for the fourth session closing +38bps at 5995. The Index did briefly break above previously identified resistance at 6000, hitting an intraday high of 6012. This was also the
Podcast
The conversation delves into the current state of market expectations regarding interest rates, the implications of government spending on inflation, and the outlook for economic recovery. The speakers discuss the likelihood of interest rate cuts, the challenges faced by policymakers, and the impact of government financial decisions on the average
Video
[embed]https://youtu.be/YDAOUrv0_lo[/embed] The conversation delves into the current state of market expectations regarding interest rates, the implications of government spending on inflation, and the outlook for economic recovery. The speakers discuss the likelihood of interest rate cuts, the challenges faced by policymakers, and the impact