Back to Basics! Earnings to be the Main Focus this Week! Investors to shift their focus back to basics – and, examine the earnings from companies closely this week. As we have been indicating since 01/09, the index is looking at strong resistance level around 2665-75, and it is yet to clear the 2675 level. (more…)
The Drift Higher To Continue? Since Wed, 01/09, our models have been sporting a bullish bias which will be invalidated if the index registers a daily close below 2623. While above 2633, our models continue reiterating the bullish bias. The index is looking at strong resistance level around 2665-75, and if it closes above 2675 on (more…)
Earnings, Economic Releases, Geopolitics…A Packed Day for Headline Risk today Major earnings releases (Intel, Starbucks, American Airlines, Southwest, Union Pacific, Discover Financial etc), key economic releases (initial jobless claims, PMI, regional fed survey), and geopolitical events (European Central Bank, Venezuela, China)…today’s market calendar is packed with headlines-driven event risk. The index is facing the big (more…)
Markets Approaching an Inflection Point? (theme continued from yesterday) As we pointed out, S&P 500 index registered eleventh consecutive green candle on the daily charts (on an open-close basis) on Friday, 01/18, and it was to be expected to be broken, which it did yesterday with the close in the red. The index is now (more…)
Markets Approaching an Inflection Point? S&P 500 index registered eleventh consecutive green candle on the daily charts (on an open-close basis) on Friday, 01/18! The index is now resting near the big resistance level of 2675, and if it closes above 2675 on a daily basis then we are looking at 2710-2715 area as the (more…)
Is That a Real Bull in Sight? Not so Fast – Price Action till Monday Close Needed to Gain Clarity and Conviction! S&P 500 index registered tenth consecutive green candle on the daily charts (on an open-close basis)! The index tested the upper end of the 2635-2645 resistance band we mentioned in our forecast yesterday (more…)
Tenth Consecutive Positive Close / Green Candle (On a Daily Open to Close Basis)? If the S&P 500 index closes higher today, it would mark the the tenth consecutive positive close on a daily open to close basis. The index is looking at some strong resistance levels in the 2635-2645 band which, if broken, could (more…)
Earnings Earnings Everywhere With earnings season picking up, the markets are likely to focus on the basics – the economic fundamentals of the companies underlying the stocks, barring any major surprises on the geopolitical front. While the move up is encouraging to the bulls, below average volume is a concern still. Since Wed, 01/09, our (more…)
Brexit Chaos and Draghi Speech Potentially to Eclipse Earnings Headlines today Geopolitical events (not involving China, for a change) today likely to cause chaos in the currency markets which would spill over into the equity markets today – UK parliament to vote on Theresa Mayer’s Brexit Plan. Added to that, ECB chair Draghi is slated (more…)
Earnings Kickoff! Key earnings season kicks off today, most likely moving the focus back to basics. The news from China about its economy slowing down is drawing increasing attention from investors. And, headlines about China’s record trade surplus with the US keeps the trade war jitters from fading anytime soon. Since Wed, 01/09, our models (more…)
