China deal still work in progress!
As we suspected 200DMA resistance is at work. 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 have been somewhat volatile. Some with positive results are […]
Read MoreFED Softens on interest rates and QT!
Dow Jones is trading above 200DMA resistance. Nasdaq is heading towards 200DMA around 7500 level. So is true for S&P index heading towards 2750-2800 area. Many leaders are participating last couple weeks. Be watchful for nature of consolidation this week or two. The market is in confirmed rally. Volatility index VIX is breaking support at […]
Read MoreChina Trade War Escalation Risk Fades!
Market tested 200DMA resistance last week. Be watchful for nature of consolidation this week or two. The market is in confirmed rally. Breakouts are improving a bit. Right side of the base chart patterns are still work in progress. Volatility index VIX is in narrow range for past three weeks. Resistance at 22 and support […]
Read MoreDigesting recent gains?
As overly pessimistic the market was for most of December, it is as somebody flipped a switch on Christmas Day and the market went from super negative to super positive. With a 2.85% jump last week, the S&P 500 continues its V-shaped recovery. The market is in confirmed rally. Breakouts continue to be relatively scarce. […]
Read MoreAre markets ready for Bull move here?
Just like the selloff in December was historic, we are seeing a rally of historic proportion in the last few days. Markets rallied from oversold conditions and are now running into resistance area. VIX has declined to 18 after spiking at 36 on December 28. The market has rallied eleven percentage in last seven days. […]
Read MoreWall Street fears wounded Trump!
Markets have reacted further with selling pressure this past week. It has been the worst week for markets since 2008 financial crisis. We are officially in ‘Bear’ territory on NASDAQ and SPX at 2350. FED chairman Mr. Powell has gotten what he wanted before he turns dovish. In September speech he indicated that ‘market moves’ […]
Read MoreMarket signaling deeper correction!
Since reversal from resistance levels at 50DMA & 200DMA market has shown little interest to rally. This week’s FED’s interest rate hike with strong US economy (New Jobless claims came in way below consensus) is being discounted by markets. This morning, indexes are breaking October lows near 7000 on NASDAQ & 2600 on S&P. Volatility […]
Read MoreIs Trump winning China Trade war?
This week all of last week’s gains were wiped out. Optimism generated by Chinese Premier and President Trump on resolving Trade and Tariff issues were being questioned with Huawei’s CFO Meng Wanzhau’s arrest on violating US sanctions against Iran. On Tuesday, indexes reversed from resistance levels at 50DMA & 200DMA. Friday’s poor jobless report should […]
Read MoreTrump Wins USMCA (NAFTA) Deal
Markets had trouble making much headway in September, perhaps partly because of noise over tariffs, rate hike and rising oil prices. S&P 500 is trying to make all-time high. NAFTA news is boosting the market. The midterm U.S. elections are only five weeks off. Political futures markets are predicting Democrats to grab control of the […]
Read MoreEconomy Propels the Markets!
Markets have rallied on decent up-volume on Thursday’s session and have retested support levels on Monday. The S&P made new highs & NYSE has broken out of trading range for past eight months and testing the breakout levels as of Monday. The dollar fell pretty sharply, helping foreign markets to recover. These markets testing crucial […]
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