Despite the apparent lackluster trading on Monday, there were three signals worth watching for Tuesday. You can see these 3 signals in the intraday chart from Mon May 8 2017 below.
SPX End of Day May 8 2017
- First was the market broke 2400 at the open on the back of the French Presidential election outcome. This break was not sold off, but just saw some weakness.
- There was a signal to buy around 11:30 when the early morning drop quickly saw momentum build to buy back in.
- Closing momentum was as strong as at the open and could spillover into Tuesday morning.
Other Articles This Evening
Other articles this evening include the market breadth indicator outlook for Tuesday after Monday’s close. The signals are well worth a review, especially as they point beyond Tuesday.
The second is the TSX Composite Index Market Breadth Indicator outlook for Tuesday following a second day of rallying. Today’s rally was about half as strong as Friday’s. So is there enough “juice” left to keep this rally going another full day on Tuesday?
Tomorrow before markets open I will have up the watch list for Tuesday, any Super Charge Buy-Write Strategy trades for Tuesday as well as a few Trade Ahead Of Earnings Strategy trades.
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