DanGramza

02:23

DanGramza

The expected range for the S&P 500 on the daily chart is inside the Thursday daily range. The ideal close would be a close above 6160 to the upside.

01:26

DanGramza

Another small conservative move to the upside in the S&P 500 is expected for Thursday with the close above 6175.

01:43

DanGramza

Wednesday will give us insights into how the market absorbs the Fed minutes being released on Wednesday. The expectation is the market as a very good feel for what will be revealed and could maintain that upward movement seen in the market. The next objective that you'd want to see the market closing above is 6170.

02:11

DanGramza

The shortened session price action on Monday in the S&P 500 implies a calm market. However, we are at levels that we have found sellers before so we do want to be cautious at these levels. The challenge will be can buyers follow through to the upside as the week progresses.

02:25

DanGramza

The balanced close on Friday in the S&P 500 daily chart implies a pensive close to the end of the week. I am not looking for a dramatic move up or down on Monday but more of a rest day for this market as it tries to assess its fundamental environment.

02:27

DanGramza

A smaller range for the S&P 500 daily chart is expected for Friday. Although we had a strong move to the upside on Thursday the same size of move would not be expected for Friday. However a positive close above 6150 would be the next objective to the upside.

02:12

DanGramza

Buyers bought the break or lower prices in the S&P 500 daily chart for Wednesday. The challenge now is will the PPI economic numbers support buyers moving this market above the 6110 level.

01:31

DanGramza

The daily structure in the S&P 500 after Tuesday's session has a bullish bias. The CPI number coming out Wednesday may provide the impetus for this market to trade higher. 6110 is the objective.

02:19

DanGramza

Buyers returned early in the daily Asia session in the S&P 500 futures market. The expectations for further movement to the upside but not a dramatic move for Tuesday. The next objective to the upside is 6115.

02:26

DanGramza

Sellers entered the S&P 500 market on Friday which implies profit-taking from buyers or the market has gotten overvalued and new sellers are entering. I am not looking for a dramatic move down or up on Monday but rather a inside only slightly lower movement from Friday's low.

01:37

DanGramza

The price structure on Thursday including the beginning of the Asia in the daily session of the S&P 500 implies a market going into Friday labor numbers with a bullish bias. If this is true that buyers are here, a close above 6120 would be an indicator of confidence in holding a long position going into the weekend. This would mean further follow through on Monday...

01:34

DanGramza

The expectation is that Thursday will be a set up for the employment numbers on Friday. An ideal close on Thursday would be a close above 6115.

01:15

DanGramza

I think the S&P 500 is trying to digest the political and geopolitical environment. Structurally the bias is for move higher. However, I am looking for in an inside day for Wednesday as the market tries to sort out what is going on.

02:44

DanGramza

And inside day in the S&P 500 daily chart is expected for Tuesday. This means that Tuesday's range will be basically inside of Monday's range. I think this type of structure will happen because the market is going to try to absorb what is the total picture so I don't look for a big move up or down without new information.

01:40

DanGramza

Settlers in the S&P 500 daily chart responded to the uncertainty of tariffs being implemented over the weekend. A dramatic move lower on Monday is not expected without new news. The next objective to the downside is 6140.

02:03

DanGramza

The stage is set for the PCE announcement on Friday for the S&P 500. The expectation is for rally. Ideally closing above 6130. We will soon see if the buyers that entered on Thursday can get the job done on Friday as we go into the weekend.

02:46

DanGramza

Look for an inside day on Thursday for the S&P 500. This means that Thursday's price action will be within the range of Wednesday's price action.

02:52

DanGramza

Will the Wednesday Fed action be acceptable to the S&P 500 futures market? The expectation is the Fed will leave interest rates unchanged. In the past this is because bearish stock market conditions or will the Fed announcement be acceptable to the market and it closes above 6120.