Thursday, March 24, 2016

Friday stock market forecast

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Friday market closed.
  • ES pivot 2033.08.  Holding below is bearish.
  • Next week bias uncertain technically.
  • Monthly outlook: bias higher.
  • YM futures trader: no trade.

Image result for easterFoo.  Last night I called the Dow lower for Thursday, and while it did indeed plunge right out the gate, it then spent the rest of the day slowly cawing it way back up to break-even to end with a plus 13 point gain by the time the bell rang.  Now admittedly all that's damaged is my pride and since I'm always net long it helped the bottom line, but still...  Oh well, we update the stats and look forward to a day off.  See you again Sunday night!

The technicals


Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    9      5       5           0       0.643    1433

February   9      3       5           3       0.800    1133

March      6      5       5           1       0.546     170

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