Norm Winski
Independent Analyst
Recap 5/26 – Thursday, the S&P gapped open up 14 handles, for the low of the day, and then rallied another 84 handles into a 1:10 PM high. From that high, the S&P gradually declined 24 handles into a 3:23 PM low. From that low, the S&P rallied 24 handles into a 3:50 PM high of the day. From that high the S&P declined 19 handles into the close.
5/26 – The major indices, had a huge up day per the following closes; DJIA + 516.91; S&P 500 + 79.11; and the Nasdaq Composite + 305.91.
Looking ahead - This weekend, we have a major 9 point change in trend window. Whichever way the market trends on Friday, it is likely to reverse when we resume trading on Tuesday, May 31. Please see details below.
The Now Index is now in the NEUTRAL ZONE.
Coming events
(Stocks potentially respond to all events).
3. C. 5/27 AC – Mercury Aphelion. Major change in trend Corn, Oats, Soybeans, Wheat.
D. 5/27 AC – Jupiter 45 US Moon. Moderate change in trend US Stocks, T-Bonds, US Dollar.
E. 5/27 AC – Jupiter Parallel Latitude Neptune. Major change in trend Commodity Index, Oats, Oil.
F. 5/27 AC– Helio Saturn Contra-Parallel Uranus. Major change in trend Cattle, Coffee, Copper, Cotton.
D. 5/27 AC – New Moon in Gemini. Major change in trend Financials, Grains, Precious Metals
Stock market key dates
5/28 (Sat.) = 8,100 (90^2) days > 3/24/2000 MAJOR TOP.
Fibonacci – 5/28.
Astro – *5/27*.
Please see below the S&P 500 10 minute chart.
Support - 4020 Resistance – 4090, 4140.
Please see below the S&P 500 Daily chart.
Support - 4020 Resistance – 4090, 4140.
Please see below the May Planetary Index chart with S&P 500 10 minute bars for results.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.