Strong Job report puts the market in high gear!
Small caps overcame major resistance level on strong job report and lowest unemployment rate since 1969. Nasdaq closed on NH. Midweek NASDAQ and S&P got support at 21DMA and Friday’s economic reports put the sizzle into small-cap index Russell 2000. Overnight markets were off over 2% on President Trump’s remarks on increasing tariffs on Chinese […]
Read MoreStrong Economy is the Fuel for the Market!
The S&P was up 1.1% last week, just below the September 2018 all-time high. This could act as psychological barrier, short-term. Oil prices remain near recent highs. Strong GDP growth with low inflation seems an ideal backdrop for the market. Google & Apple is reporting earnings on Monday & Tuesday. Uber might go public as […]
Read MoreNo Surprises in Mueller Report!
Market is still close to last year highs. It barely moved (-0.25%) in last week. Mueller report came out with no ‘surprises’. Market yawned while Washington is trying to make sense of the report. US economic news remain positive with retail gaining steam and job reports remain strong. The market is in ‘Confirmed Up trend’. […]
Read MoreIndexes Testing Last Year Highs!
Market is testing Q3 2018 highs after strongest performance since Q1 of 2009. Healthy market should take a pause here before attempting to make new highs. US economic news are positive. US- China seems to be close to reaching trade deal. The market is in ‘Confirmed Up trend’. Our models are positive for intermediate & […]
Read MoreChinese economy provides fuel for the market!
Market does not seem to take a breather after strongest performance since Q1 of 2009. News of improving Chinese economy is adding wings to this market. SPX has closed above resistance zone around 2815. It suggests global economy may be coming out of soft patch. BREXIT has been postponed till May 22. The market has […]
Read MoreAre 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 MoreBoeing 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 MoreShort 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 MorePositive 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 […]
Read MoreMarket strength continues!!
All indexes have trading above 200 DMA but prior resistance zones near here need to be overcome. So far market is handling it ok with end of the day rallies from lows. The market is in confirmed rally. Volatility index VIX has tested breakout of support level 16. This is encouraging for bulls. Earnings reports […]
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