• 396 days Will The ECB Continue To Hike Rates?
  • 396 days Forbes: Aramco Remains Largest Company In The Middle East
  • 398 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 798 days Could Crypto Overtake Traditional Investment?
  • 803 days Americans Still Quitting Jobs At Record Pace
  • 805 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 808 days Is The Dollar Too Strong?
  • 808 days Big Tech Disappoints Investors on Earnings Calls
  • 809 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 811 days China Is Quietly Trying To Distance Itself From Russia
  • 811 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 815 days Crypto Investors Won Big In 2021
  • 815 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 816 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 818 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 819 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 822 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 823 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 823 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 825 days Are NFTs About To Take Over Gaming?
Joseph Russo

Joseph Russo

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating…

Contact Author

  1. Home
  2. Markets
  3. Other

For Us, Today's Rally is Yesterday's News...

Following a miserable May and rather dismal start to June, the short-term downtrend appeared to be imposing death by a thousand cuts to the bullish contingent seeking some sort of snap-back reprieve from the corrective downside torture endured over the past six weeks.

Last Friday June 10, we tagged our first downside swing target of 1276, which was established shortly following the S&P's 1370 print high in early May.

Yesterday's Near Term Outlook presented the following chart points and screen cast video to subscribers on Monday, June 13.

S&P 500 Daily Bars

As mentioned above in the lower paragraph of chart points, we stated that vs. Monday's print low of 1265.64 (if it held) a move above the cited visual boundary carried immediate upside price risk just south of 1290.

With overnight futures positive from their open and the headlines of the day meeting general expectations, there was no question as to the 1265 level holding amid a move north of our cited bullish boundary.

Within the first two hours of trade, and before you could finish saying double-dip, the S&P was up over 15-pts and knocking' on the door of 1290.

June 14 S&P at 12:50pm EST.

June 13 Screen Cast for the S&P 500

If the embedded player fails, here is the video link: http://youtu.be/fAzTkP7vR6s

We hope that you have enjoyed today's brief snapshot of what goes on in the Near Term Outlook three times a week.

To witness the perpetual drama of the financial markets unfolding through the prism of an unbiased master of the price action, why not take one of our publications for a test drive to find out exactly how you might benefit from our theory-free brand of truth in forecasting and trading advisory.

Just click here and scroll through the generous selection of winning solutions to find the one that suits you best. We'll see you at one of the Pubs.

Until then...

Trade Better/Invest Smarter


Back to homepage

Leave a comment

Leave a comment