Wednesday, March 23, 2016

Wednesday stock market forecast

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Wednesday lower.
  • ES pivot 2039.58.  Waiting to see which way it breaks.
  • Rest of week bias lower technically.
  • Monthly outlook: bias higher.
  • YM futures trader: no trade.

Image result for islam merde
"The Koran - it doesn't stop bullets"
Last night I wasn't quite sure which way we were headed and although there were some reversal aigns I wasn't ready to commit to them.  Turns out an "uncertain" call was about right with the Dow down all of 41 while the Nasdaq was up 13 on a day marred by yet another horrific tragedy, this time in Brussels thanks to more Moslem religious lunatics.

Tonight I am once again overwhelmed with the burdens of ordinary existence so it's another Night Owl Lite night.  No detailed charts, just the results.

The technicals

Market index futures: Tonight, all three futures are lower at 12:48 AM EDT with ES down 0.11%.

ES daily pivot: Tonight the ES daily pivot ticks up from 2039.42 to 2039.58. That leaves ES sitting virtually on top of its new pivot so this indicator tonight has no predictive power.  It will all depend on whether it falls through or bounces off by morning.


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      5      4       5           1       0.600     103

     And the winner is...

With a rising VIX, dojis in the Dow and ES on Tuesday moving lower and confirming Monday's reversal signs, and the new overnight guiding lower, I'm going to go out on a limb and call Wednesday lower.

YM Futures Trader

No trade tonight..


  1. Thanks for the analysis. Yes yet another attack. What major event will cause us to finally put political correctness aside and increase monitoring and arrests of those teaching hate at Mosques, and enhance immigrant screening. Islam, as revealed in the later parts of the Quran and in the Hadith, is a very intolerant religeon bent on spreading Islam. How long will we tolerate that?

    1. How long? As long as we keep getting weak, ineffective so-called leaders who are more interested in burnishing their legacy as "statesmen" than addressing the harsh realities in the world today.

      What we need is another Charles Martel, because we are headed for a rematch of the Battle of Tours. Maybe not next year or the next decade, but it's coming for sure.


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