Monday, March 14, 2016

Monday stock market forecast

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Monday uncertain.
  • ES pivot 2009.92.  Holding above is bullish.
  • Rest of week bias uncertain technically.
  • Monthly outlook: bias higher.
  • YM futures trader: no trade.

In honor of the return of Daylight Savings Time (seems like we just ended it), I'm taking the night off, so no official call tonight.  That's one of the advantages of working for yourself.  We'll just update the stats.  The regular schedule resumes Monday night.

The technicals

Market index futures: Tonight, all three futures are lower at 1:22 AM EDT with ES down 0.15%.

ES daily pivot: Tonight the ES daily pivot jumps from 1988.75 to 2009.92.  That leaves ES above its new pivot so this indicator continues bullish.


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      4      2       2           1       0.714      -9

     And the winner is...

OK, so I will say this.  From the quick look I did take at the Sunday night charts, things are looking vaguely lower for Monday, but that's not an official call and it won't count in the stats..

YM Futures Trader

No trade tonight

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