NASDAQ Is The Best Performing U.S. Index Prior to the COVID-19 induced market collapse, most major U.S. indices were making all-time highs (see Figure 1). Dow Jones Transportation Average (DJT) and S&P 500 Small Caps were two who did reach their respective highs that they made in October 2018. The February-March saw all indices to sharply…
Gold is Shining Again Gold is on the rise. There are many fundamental factors that are favoring it. The US Dollar is soft, the Coronavirus pandemic has ignited the fears of a global economic recession and the global interest rates are low. No wonder gold is trying to reclaim its previous high levels. Technical charts…
Broadening Pattern Dow Jones Industrial Average and S&P 500 are forming Broadening Pattern on weekly timeframes since January 2018. A broadening pattern is an inverse triangle bounded by two diverging trend line – one moving up and one moving down.Edwards and Magee wrote in their seminal book, Technical Analysis of Stock Trends: If the Symmetrical…
Equities Outperforming Other Asset Classes U.S. Treasury Bonds ($USB) have risen since October 2018 (see Panel 1, Chart 1) after mostly declining from a high of 176.06 in June 2016 to a low of 136.40 in October 2018. It is approaching the high, 157.94, of Q3 2017. On relative basis, $USB is under-performing the equities,…
The large cap indices – S&P 500 and Dow Jones Industrial Average (DJIA) – are in confirmed uptrend along with the tech-heavy NASADAQ Composite. Their all three timeframes – monthly, weekly and daily – are showing varying degree of uptrend and bullish chart formations. The broader market index, Wilshire 5000 Total Market Index, is also…
Directional Bias For The Day: S&P Futures are higher The odds are for an up day with good chance of sideways move from pre-open levels near 3145.00; elevated volatility – watch for break below 3123.700for change of sentiments Key economic data due: Non-Farm Employment Change (4800K vs. 3037K est.; prev. 2509K) at 8:30 AM Unemployment…
Directional Bias For The Day: S&P Futures are lower to near 3080.00 The odds are for a sideways to up day with elevated volatility – watch for break below 3062.75 for change of sentiments Key economic data due: ADP Non-Farm Employment Change (269K vs. 2850K est.; prev. 3065K) at 8:15 AM ISM Manufacturing PMI (…
Directional Bias For The Day: S&P Futures are lower The odds are for a sideways to down day with elevated volatility; – watch for break above 3055.25 for change of sentiments Key economic data due: S&P/CS Composite-20 HPI ( 3.8% est.; prev. 3.9%) at 9:00 AM Chicago PMI ( 45.0 est.; prev. 32.3) at 9:45…
Directional Bias For The Day: S&P Futures are lower The odds are for a sideways to up day with elevated volatility; – watch for break below 3048.75 for change of sentiments Key economic data due: Core PCE Price Index ( 0.1% vs. 0.0% est.; prev. -0.4%) at 8:30 AM Personal Spending ( 8.2% s. 8.9%…
Directional Bias For The Day: S&P Futures are lower The odds are for a sideways to down day with elevated volatility; – watch for break above 3052.25 for change of sentiments Key economic data due: Core Durable Goods Orders ( 2.1% est.; prev. -7.7%) at 8:30 AM Durable Goods Orders ( 10.3% est.; prev. -17.7%)…
Directional Bias For The Day: S&P Futures are lower The odds are for a sideways to down day with elevated volatility; – watch for break above 3126,00 for change of sentiments Key economic data due: HPI ( 0.3% est.; prev. 0.1%) at 9:00 AM Directional Bias Before Open: Weekly: Uptrend since March 23 under pressure…
Directional Bias For The Day: S&P Futures are higher The odds are for a sideways to up day with elevated volatility; – watch for break below 3100,00 for change of sentiments Key economic data due: Flash Manufacturing PMI ( 50.0 est.; prev. 39.8) at 9:45 AM Flash Services PMI ( 46.9 est.; prev. 37.5) at…
Directional Bias For The Day: S&P Futures are higher The odds are for a sideways to down day with elevated volatility; – watch for break above 3104,75 for change of sentiments Key economic data due: Existing Home Sales ( 4.15M est.; prev. 4.33M) at 10:00 AM Directional Bias Before Open: Weekly: Uptrend since March 23…
Directional Bias For The Day: S&P Futures are higher The odds are for an up day with elevated volatility; – watch for break below 3120,00 and 3102.00 for change of sentiments Key economic data due: Current Account ( -104B vs. -101B est.; prev. -104B) at 8:30 AM Directional Bias Before Open: Weekly: Uptrend since March…
Directional Bias For The Day: S&P Futures are lower The odds are for a down day with elevated volatility; – watch for break above 3120,00 for change of sentiments Key economic data due: Philly Fed Manufacturing Index (27.5 vs. -21.0 est.;prev. -43.1) at 8:30 AM Unemployment Claims (1508K vs. 1300K est.; prev. 1566K) at 8:30…