video

S&P 500 pushing above key resistance earlier this week leaves it as critical support.

Performance during bad environments is key. Focus on their risk management.

While there is a ‘Yellen Put’ in place, the poor performance of the S&P 500 after the ECB, FOMC and BoJ looks weak.

 

While the S&P 500 fresh major up signal two weeks ago looked good, the lack of any follow through has led to a near term failure. Might it get worse?
A gold correction is coming.
Oil continues to baffle the fundamental and technical analysts. Folks, oil has completed its 3 year cycle low. Get it through your head that it’s not going back down. The market is already starting to discount tighter supply in the years ahead.
It is easy to imagine that S&P 500 rallying on very negative early week macro influences (OECD and IMF) and mostly weak data will continue to be underpinned on dips in the near term.
While negative economic data may weigh on the S&P 500 at times, for now there is a “Yellen Put” in place to buffer any weakness.
It was easy to spot the “Yellen Effect” Tuesday, and her very much more dovish indications than the recent opinions of other Fed members are good for the US equities.

The recent dove-hawk flip-flops at the Fed make Chair Yellen’s speech this morning more critical than usual for S&P 500.