Commentary: Paul Ebeling on Wall Street


Once again, the US stock market was primed to rebound, it rebounded extending into options expiration, + there is plenty of money still on Wall Street’s sidelines.

The US financial market was closed Monday for a Holiday,

Options expiry brought a big Northside move. Perhaps we will see come giveback early Tuesday, but not expecting the move to roll over without some kind of negative news on trade or the Fed at the weekend, there was none, and we expected the China numbers.

So, on weakness, the plan is to pick up some additional Northside positions. We will be watching some new plays that are setting up well in here. 

This rally posted a 3rd leg last week. So, as long as good plays continue setting up and break higher, and there are good entries, use them to enter. 

Remember, always take what the market gives.

The Bulls Vs The Bears

Sentiment Indicators

VIX: 17.80; -0.26 
VXN: 21.89; -1.45 
VXO: 17.76; +0.11 

Put/Call Ratio (PCR) CBOE: 0.84; +0.04 

The Bulls Vs The Bears 

After the Bulls rebounded, the Bears fell, still they crossed over, a very good indication sentiment was extreme to the negative and sets up a move North. We are seeing a move and now the indices are near the next Key marks of resistance. 

The Bulls are at: 34.8 Vs 29.9 last

The Bears are at: 29.4 Vs 34.6 last

Support and Resistance

HeffX-LTN’s overall technical support and resistance indicators for the major US stock market indexes are Neutral at: DJIA at 24,705, S&P 500 at 2,664.6 and QQQ at 165.25

Have a terrific week

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.