Trade War Escalates!
Markets respected resistance level and backed off on Friday. Now we must watch the test of August 5 lows ahead. Character of the test will determine what should we expect in next coming weeks. Volatility index must come down below 15 for market to find legs again. Two major drivers for the market kicked in […]
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Yield Curve Inverts
Market showed mixed emotions last week. On Tuesday it made a bold attempt to overcome resistance level but failed miserably on Wednesday. We doubt this rally until it closes above resistance at 50DMA. That is 8000 level for Nasdaq and 2950 for S&P 500. Two major drivers for the market are China Trade talks and […]
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Yuan Devaluation- Financial Earthquake!
Market ended week much better closing near high for the weekly range. It had good three rally and now testing major resistance at 50DMA. That is 8000 level for Nasdaq and 2950 for S&P 500. China trade war is entering new phase. We have seen Currency devaluation by China and possible currency war beginning. US […]
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Positive signs emerge in US-China Talks!!
Market have shown record performance since bottoming in late December. It has overcome important resistances at 50DMA & 200 DMA with ease. Next resistance zone for NASDAQ is 7570-7650 & for SPX zone is 2800-2815. We will not be surprised that market will overcome these zones in next week or so. But one should be […]
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