Friday, April 15, 2016

Friday stock market forecast

The Hoot 
Actionable ideas for the busy trader delivered daily right up front
  • Friday on vacation.
  • ES pivot 2069.00.  Holding above is bullish.
  • Next week bias uncertain technically.
  • Monthly outlook: bias higher.
  • YM futures trader: no trade.

GENEVA VINTAGE TRAVEL POSTER Switzerland RARE HOT NEWMy call last night was for Thursday to be "uncertain" and with the Dow finishing up all of 18 points, that seems about right.  Tonight we have a problem as the Night Owl had to go in for her annual eye exam on Thursday (hey, even owls need periodic checkups to maintain their sharp vision) and as a result tonight I can't see jack, Jack.  Ya can't check the charts if ya can't see 'em, so regrettably I'm going to have to take Friday off.  But it's op-ex anyway so who knows what will happen.

The technicals

Market index futures: Tonight, all three futures are higher at 12:25 AM EDT with ES up 0.69%.

ES daily pivot: Tonight the ES daily pivot rises again from 2069.00 to 2075.58. That now leaves ES essentially sitting right on top of the new pivot so this indicator is only nominaly bullish at the moment.


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      8      6       6           1       0.600     222

April      4      1       4           1       0.833     347

     And the winner is...

We're taking a vacation day so you're on your own for Friday.  In any case I'm just expecting more odd gyrations.  With the weekend to recover, I'll be in form by Sunday night which is when I'll be back.  That's all she didn't even write.

YM Futures Trader

No trade tonight..

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