Tuesday astock market forecast

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

• Tuesday - no call.
• ES pivot 2099.58.  Holding below is bearish.
• Rest of week  bias lower technically.
• Monthly outlook: bias lower.
• YM futures trader: no trade tonight.

Recap

Happy Fourth of July!

I expected an inconclusive, low-volume day last Friday and that's about what we got with the Dow up just 19 points on a small doji star.  Now we're coming off a three-day weekend.  Sunday nights are hard enough to call and this just makes it harder.  Also, the day after the Fourth is typically high volatility.  So with a holiday-shortened week coming up, this seems like a good time to day a day off.  We're going to go watch some fireworks and then let the market settle down a bit before getting back to work.

The technicals

Market index futures: Tonight, all three futures are lower  at 12:26 AM EDT with ES down 0.18%. 

ES daily pivot: Tonight the ES daily pivot falls from 2092.83 to 2099.58.  That puts ES back below its new pivot so this inidcator is now bearish.

Accuracy:  

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      6      4       8           2       0.667     416
May        9      3       4           4       0.813     756
June       8      5       7           1       0.643    1393
July       0      0       1           0         NaN       0

     And the winner is...

No call tonight, we're on vacation.  (But I will casually mention things are ;looking a tad bearish at the moment).

YM Futures Trader

No trade tonight.