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We are at an important level in the equity markets. Based on its inflection point we expect a pullback. However, the markets are always right, and we are clearly at a crossing point. We will go either much higher from here – not supported by the projected high – or we will go down from here. For example, the S&P, which reached this morning our target of 4236 – needs to hold at its current level, or we will move another leg higher – with a next upside target of 4258. However, as seen last week, once the sellers take over, we see an acceleration, and the S&P can move within an hour 60-8...

Crude (JUN)The market is bullish Crude since it broke out above 65.00.While we saw a few attempts before it did finally broke.This morning Crude is trading at 6

Chart of the Day Crude (JUN) The market is bullish Crude since it broke out above 65.00. While we saw a few attempts before it did finally broke. This morning Crude is trading at 65.70 which was our next upside target. Crude gives a next upside target of 67.30 but it is now trading near its projected high. We have not been long Crude but tried a few times to short it. The reason is that it’s overdue a correction and we still have a lower target of around 61 that has not been tested yet. Enough reason to stay cautious. We suggested this morning to short Crude again below 64.90 with a buy sto...

The S&P reached 4186 which is our next upside target. Now still remaining targets are 4208 and 4220, as per yesterday’s update. To the downside we get 4174 which is now support. Below 4174 we can see a fast down-move to 4164 and if that doesn’t hold, we fall back to 4151, 4134 and 4112. Our focus would be short from 4186 with a buy stop at 4192. Above 4192 close the short position and then re-open if S&P can reach its next target of 4208.   Global Indices, VIX, a selection of stocks, Treasury Bond, Commodities, Soft Commodities, Currencies, and Bitcoin. Signup for a free 14-day free...

Market Review S&P 500 Futures Recap - Trade Date April 26, 2021 Chart by AMS Trading Group Economic Calendar Closing Prices