Observation for last week (26 Jan – 02 Feb 2018)
- Nice selloff seen last week with SPX losing 100 points to close at $2762
[View last market outlook on Profit Taking]
- The Big Boys did an market hedge last Tuesday as they expect selloffs for the whole of last week.
[View Article on Big Boy’s Market Hedge]
Observation for Coming Week (05 Feb-09 Feb 2018)
- The hedge by the Big Boys ended last Friday. There may be an overrun of some selling at the start of the week but it should dry up by mid of the week.
- At this moment in time, no big selloffs seen for this coming week.
- Expectation of a debt ceiling and budget extension at end of this week.
- Immediate strong SPX support to be seen at $2675 to $2,700. Good buying opportunity at this level.