Sunday, May 26, 2024

ES Morning Update July 29th 2016


There's a song out there by Green Day called "Wake me up when September Ends"... which should be changed to July as every day in this market seems exactly like the prior days' market.  Nothing seems to move the market up over resistance or down below support.  It's a never ending repeating day like the movie "Ground Hog Day" with Bill Murray.  So the forecast for today is "Same as it ever was"... until we get a breakout or breakdown we are stuck going nowhere again.  The pattern seems to be down in the morning and back up in the evening, which at some point I'm sure that will end... but I don't know when?

In the news last night we had the Bank of Japan "Disappointing" with their equivalent of our FOMC meeting, and we had North Korea "effectively declaring war" but the market just yawned at all that.  I don't know of anymore news out there that could move the market so it looks like we'll close out this month stuck in this range (assuming no more bigger news shakes us out of it before the close today).  Nothing more to add unfortunately.  Just take and nap and wake up when July is over...

Author: Red

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