Hi mates, i sharing my thoughs about markets from last week and my view for week ahead.Today i bring some more focus on intermarket analysis in this post. So lets start with last week recap:
Summary of last week:
We had busy week for macro, that shows worsening US economy by COVID-19
SPY Chart commentary:
On this chart you can see
SPY
and
XLU/SPY
Summary of last week:
We had busy week for macro, that shows worsening US economy by COVID-19
- Dissapointing retail sales for December at Friday: Core Retail Sales m/m: -1.4%, Retail Sales m/m: -0.7%
- Dissapointing Uneployment claims: 965K vs. 785K
- CPI numbers just in line with expectation
- New $1.9 Trillion stimulus proposal by president-elect Joe Biden
- Earning season started by Banks
JPM
WFC
C
SPY Chart commentary:
On this chart you can see
SPY
and
XLU/SPY
Comment:
There is some update of my idea from broader perspective:
