Monday higher

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Monday higher, low confidence.
• ES pivot 19886.92.  Holding above is bullish.
• Rest of week bias uncertain technically.
• Monthly outlook: bias higher.
• ES Fantasy Trader standing aside.

Recap

Well that whole Jackson Hole hoopla last Friday proved to be a resounding dud.  Not even Super Mario could move this market much as the Dow ended the day down all of 38 points.  I'm glad I called it "uncertain".  Now that all that uncertainty is over and done with maybe we can get back to business as we finish out the month of August.

Tonight we feature an abbreviated edition of the Night Owl.  I just got wrapped up in that pesky stuff called Real Life on Sunday and kind of ran out of time, so we'll skip the detailed charts and cut straight to the chase, plus the usual performance update.   The full edition will resume tomorrow.

Accuracy:

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    5      10      6           0       0.333     64
February   5       2      2           1       0.750    107
March     12       3      6           0       0.800    431
April      9       3      5           0       0.750    482
May        6       7      6           0       0.462    -67
June       8      10      3           2       0.500    132 July       6       4      4           3       0.692    639
August     6       6      2           1       0.538      7

     And the winner is...

While I didn't outline my reasoning tonight the way I usually do, I did look everything over and it looks like there are some decent bullish signs out there.  Enough in fact for me to just call Monday higher.

ES Fantasy Trader

Portfolio stats:  the account remains $114,250 after eight trades in 2014, starting with $100,000.  We are now 6 for 8 total, 4 for 4 long, 2 for 3 short, and one push.  Tonight we stand aside.