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Markets are Flat, Waiting for a Catalyst?

Stock-Markets / Stock Markets 2018 Jun 05, 2018 - 03:01 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Good Morning!

I am having difficulty with investing.com this morning. Not sure it is my computer or theirs.

SPX futures are flat. We are seeing the calm before the storm. Yesterday was a Primary Pivot which may account for the top being made. Another Primary Pivot occurs on Thursday. The second Pivot in a week may direct us to the catalyst for the decline to begin.


ZeroHedge reports, “While global markets remain largely a sea of green, ignoring the threat of a trade war between the US and the rest of the world which remains a non-event for now (for reasons discussed overnight), the move higher has been more muted overnight, and even as European and Asian stocks extended Monday's gains and U.S. futures pointed to a higher open, some familiar risks have re-emerged.”

VIX futures are at the bottom of their range, nearly reaching the May 25 low at 12.29. Should it stay above that level, this is indicative of a Wave 2.

TNX is backing away from yesterday’s high, but remains above Short-term support at 29.09. We’ll be watching for a decline and close beneath that level to confirm the resumption of the decline.

I’ll be putting more on the blog.

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only.  There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

Anthony M. Cherniawski Archive

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