Are we getting short-term pullback!
After overcoming resistance zone for NASDAQ & SPX on higher volume, market wants to take a breather. Market is concerned about trade deal with China. Mr. President may be losing opportunity to get the best deal. Chinese economy is improving and Chinese may not have the incentives to give everything Mr. Trump wants. If the […]
Read More
Boeing could not derail this market!
After sharp but normal correction last week, market has overcome resistance zone for NASDAQ & SPX on higher volume. This is bullish for market, considering Boeing got hammered and BREXIT got postponed. Good news on Friday was Chinese newspaper reports indicating ‘progress’ in trade talks. Trade deal is critical for bull case. Some of the […]
Read More
Short correction or protracted one!!
Market encountered resistance zone for NASDAQ is 7570-7650 & for SPX zone is 2800-2815 last week. We saw markets giving back 200DMA support and we were cautiously watching for 50DMA support for trigger. Market charged on today with sharp rally and closing once again above 200DMA. This is how strong bull market behave. This is […]
Read More