New Highs!
The stock market is trying to overcome resistance near 8250 level for NASDAQ and 3030 on SP500. Support level at 8000 held well. Market is responding positively to news. FED meeting this week can tilt the market one way or the other. UK Parliament voted ‘yes’ for BREXIT deal but “no’ on timeline. This could […]
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Global Economic Concerns!
The stock market ran into resistance near 8250 level for NASDAQ on Thursday. Support level at 8000 need to hold for the optimism over trade talk cease fire to hold. Investors ignored the generally favorable earnings reports to fret over global economic concerns. China reported lower than forecast 6% GDP growth in Q3, the slowest […]
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Trade Deal Hope propel market!
The stock market powered higher Friday afternoon as Wall Street grew optimistic about the outcome of trade talks with China. President met with Chinese Vice Premier Liu He. It resulted in the announcement of the partial trade deal, which could set up a truce in the U.S.-China trade war. Trump said the agreement is “very […]
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August lows test not over yet!
After strong back to back selloffs on Tuesday and Wednesday to 200DMA, the market bounced back strongly on Thursday and Friday to close the week only 0.2% down. Sideways action continues. VIX indicator still trading above 50DMA indicating environment is still choppy. The impeachment train is gathering steam as the developments are coming thick and […]
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