Stock Market Today: April 2nd - 6th, 2018

Since 1932? Wow pretty amazing

 

Sell in May and go away came early this year? Keep hearing that the upcoming earnings season will help the market to bounce, I think most companies will beat estimates but whether the earnings will impress the market is another story Expectations for earnings are pretty high this time I believe

 

Why were European markets closed today?
edit: Easter Monday (https://www.marketwatch.com/story/which-markets-are-closed-on-good-friday-2018-03-26)
Still watching Nikkei and DAX, they are running into downtrend resistance. Funny how they are independent of China/US tariffs, and media was previously talking about global growth.

 

Never a dull market with the Trumpster in office..

 

GE is selling $1B of healthcare assets. The new CEO wants to streamline the business.
Seems to me that GE is destined to be replaced in the Dow, can't keep a company that is selling itself off piece by piece. But by whom? GOOGL/FB don't pay dividends, so MSFT? That way they'd get some cloud action too.

 

I think MSFT is already a DOW component (I could be wrong though). If they want another industrial company to replace GE rather than some tech company, I am thinking something like Honeywell (HON) is a good possibility.

 

Nice call on that bounce.

 

it was a down day just like i expected, but i didnt expect it to be that bad, wowzers lol. i was expecting a test of 2540 sometime this week, they were trying to do it in one day yesterday.

 

Alright, now lets keep our fingers crossed there are no tweets about AMZN today.

 

trump dropped another tweet

 

But y tho????

 

SPX R1 pivot at around 2627.
that's a nice move up if it happens

MACD giving me a double top warning, so not sure we'll get there....we'l have to see who wins this area...Bollinger band tightening as I type this...
using one minute chart

 

VWAP and Center pivot around the same spot on SPY
258.44

Might get a bounce there...don't know what the big player whales are up to so this is def not certain

 

Nice....VWAP bounce in progress

scalped a few bucks...all out now...let's see if it continues

 

For the bulls, two key catalysts might be: 1. the April NFP and 2. earnings coming up soon. If things are interpreted as bulllish, a test of 2800 could be in play--this is not based on my price action theory but simply speculation and common sense

 

ADP report tomorrow may also have an effect

 

Looks like today may be a ranging, inside day and tomorrow we may learn what's really going to happen--up or not--although the institutional traders appear to be buying today

 

pretty flat day today, compared to the 3% ranges we've had to far this year.