Friday uncertain

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

• Friday uncertain.
• ES pivot 2109.25.  Holding above is bullish.
• Next week bias uncertain technically.
• Monthly outlook: bias higher.
• Single stock trader: VZ not a swing trade buy.

Recap

Wow - I'm glad I called Thursday uncertain because I sure didn't see a 192 point pop in the Dow coming. With Friday being options expiration, it is my policy to not make any calls on these days given their generally squirrelly nature.  That means calling it uncertain out-of-hand so we can dispense with the individual chart run-downs.  Less for me to write, less for you to read.

The technicals

ES daily pivot: Tonight the ES daily pivot jumps from 2097.50  to 2109.25.  That still leaves ES above its new pivot so this indicator continues bullish.

Accuracy: 

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    8      6       4           1       0.563    627
February   6      4       5           3       0.692    183
March      7      6       5           4       0.647    976
April      3      8       7           0       0.273      1
May        4      2       2           2       0.750    440

     And the winner is...

According to policy, we're calling Friday uncertain, simple as that.  And that's all she wrote.  See you again next Sunday night!

Single Stock Trader

Last night VZ wasn't looking particularly impressive so I took a pass.  Just as well too since it did basically nothing on Thursday.  If anything with two gap-up spinning tops in a row it looks more ready to move lower next than anything else.  It looks like the buy was when it hit its 200 day MA, but not anymore.