Monday, November 16, 2015

S&P 500 Medium Term Call Still Looks Down

Chaim Siegel has been working with and for hedge funds and mutual funds as an analyst and PM his entire career. Chaim specializes in earnings and predicts, analyzes and reacts to earnings, earnings events as well as developing current company and macro stories with a hedge fund perspective. If you want his analysis real time scroll down for real time email alerts.

(^GSPC, INDEXSP:.INX, NYSE ARCA: SPY, ESZ15.CME, $ES, $SPY); By Chaim Siegel of Elazar Advisors, LLC; Prices Quoted in S&P 500 EMini Dec Contracts

We stated last Tuesday and again on Thursday that we thought there was risk to the markets building.

Risks of higher rates in the face of weaker jobs is weighing on the markets leaving investors wondering the reason for Fed policy strategy.

We wrote in Seeking Alpha today that in addition to the Fed, additional risks are building including a drop in short interest and geopolitical factors.  Such geopolitical news is of course bad in and of itself and we all hope for calm.  It historically acts as a distraction to consumers keeping them glued to their news channels and away from malls shopping, which can worry investors if sales start slow.

We expect volatility today and we expect follow through on the downside as investors take risk off the sheets ahead of CPI.

We have no strong support today so swings can be wide.

PRICES QUOTED IN THE ES EMINI DEC CONTRACT
#in, #s&p500, #stockmarket, #bestideas, nyse arca:spy
Disclosure: We may be trading S&P ES Dec in both directions at various times in the day
Disclosure: We may implement other price targets than we initially post on this site.
Disclosure: These trades can lose you money and principle especially when using leverage
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