Moment of Truth

posted Aug 25, 2014, 10:11 AM by Katie Shook

Is today finally the day we push beyond 2000 for the S&P500?  The futures market seem to think so.

The good news:  no Fed announcements this week.

The bad news:  there’s a pretty good smattering of economic data all week.

The ugly news:  geopolitics in general.

Look for the S&P500 to test 2000 early today.  There’s likely t be a lot of resistance so we probably won’t blow past the number.  The close will be the key.  An intra-day move above 2000 is psychologically good, but a failure to finish above this level would likely be a bearish signal.  The index is a bit over-bought at this point so traders may view this as an excuse to sell things off a bit.  We’ll see.  The “I think I can” train is still chuggin’ so far…

Daily Digits

Daily Digits 8-25-14

Weekly Estimated Range

Weekly Estimated Range 8-25-14

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