November 15 Market Update | Technical, Fundamental, News
Description:
An analysis for the week ahead.
Points of Interest:
Four-Day Balance, $3,580 Spike Base, $3,506.25 Excess Low, Friday’s Late Rally Away From Value.
Technical:
Broad-market equity indices ended the week mixed with S&P 500 closing at a new all-time high.
During Last Week’s Action: Alongside the unwind of election hedges and news that a vaccine developed by Pfizer Inc (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) was effective in preventing cases of the COVID-19 coronavirus, market participants showed increased confidence in their exploration of higher prices.
Going back, last week started off with a clear break and acceptance above the $3,500 high-volume area, which suggested initiative buyers were firmly in control. Index futures pared gains after Monday’s end-of-day spike liquidation, balancing for the remainder of the week.
Given Friday’s end-of-day rally, away from value, the week ended just above the balance area, providing a clear trading framework for the week that follows. Therefore, if participants were to continue their initiative activity and spend time outside of the balance area, then it's likely the market will continue higher. Otherwise, the potential exists for a failed break, which may precede re-entry into the prior balance area, and further range-bound, responsive trade.
Fundamental:
In a commentary, BlackRock discussed investing after the U.S. election and suggested more of the same market trends. bit.ly/32OyiNT
“Joe Biden’s victory in the presidential race likely ushers in a near-term market environment dominated by low rates, a hunt for yield and growth stocks. A Democratic takeover of the Senate looks unlikely, which would constrain the Biden administration’s ability to implement large-scale fiscal stimulus and public investment, tax, healthcare and climate related legislation.”
Additionally, BlackRock cautioned investors to pay attention to economic data from the euro area and U.S., as well as watch for the government’s response to the resurgence of COVID-19 coronavirus cases which may pressure the pending recovery.
Key Events:
Monday: Fed Clarida Speech, Fed Daly Speech.
Tuesday: Retail Sales MoM, Industrial Production MoM and YoY, Business Inventories MoM, NAHB Housing Market Index, Fed Bostic Speech, Fed Daly Speech, Fed Williams Speech, Foreign Bond Investment, Overall Net Capital Flows.
Wednesday: MBA Mortgage Applications, Building Permits MoM, Housing Starts MoM, Fed Evans Speech, EIA Cushing Crude Oil Stocks Change, EIA Distillate Stocks Change, Fed Williams Speech, Fed Bullard Speech, Fed Bostic Speech.
Thursday: Continuing Jobless Claims, Initial Jobless Claims, Fed Mester Speech, Philadelphia Fed Manufacturing Index, CB Leading Index MoM, Existing Home Sales MoM, Fed Mester Speech.
Recent News:
Negative 2021 outlook as pandemic fallout weighs on economies. bit.ly/2ICndby
Pfizer Inc (NYSE: PFE) COVID-19 vaccine data is credit positive. bit.ly/2Uwzsct
Resurgent COVID-19 threatens corporate credit’s improved trend. bit.ly/36FhB8K
Eurozone consumer prices likely to slide for the month of October. bit.ly/36FhB8K
Joe Biden’s clean energy platform is very heavy on clean transport. bit.ly/3lzsHT4
US banks’ tightening of underwriting standards slows, but remains. bit.ly/3f2xgCR
IEA says oil demand will not get a vaccine boost until later in 2021. reut.rs/3kyTDRJ
Sour China-Australia ties hit talks over a liquefied natural gas deal. reut.rs/3f2orZZ
Joe Biden’s path back to an Iran nuclear deal won’t be easy or fast. bloom.bg/3ltXbWu
A COVID vaccine would boost the global economy, but not at once. on.wsj.com/32MXAvV
Alphabet Inc (NASDAQ: GOOGL) delivers internet with light beam. bit.ly/3kwmwxS
Monthly Funding Recap: Unicorns are born, funding holding steady. bit.ly/3ppvLU2
The IPO pipeline looks robust and these companies could go public. bit.ly/3pyJ70c
Dalio suggested markets are at a special moment with China's rise. bloom.bg/3puv2B2
Wells Fargo & Co (NYSE: WFC) executives charged by the SEC. reut.rs/32NVrA1
Ford Motor Co (NYSE: F) considers making its own EV batteries. reut.rs/2IvgSPH
U.S. consumer sentiment ebbs; producer prices maintain their rise. reut.rs/32NdPJh
Insurers face questions on ability to cover claims after a Fed report. reut.rs/2IDeGpb
Key Metrics:
Sentiment: 55.8% Bullish, 19.3% Neutral, 24.9% Bearish as of 11/11/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Neutral) 6,032,392,989 as of 11/13/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Neutral) 43.1% as of 11/13/2020. bit.ly/2UpgtRE
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
An analysis for the week ahead.
Points of Interest:
Four-Day Balance, $3,580 Spike Base, $3,506.25 Excess Low, Friday’s Late Rally Away From Value.
Technical:
Broad-market equity indices ended the week mixed with S&P 500 closing at a new all-time high.
During Last Week’s Action: Alongside the unwind of election hedges and news that a vaccine developed by Pfizer Inc (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) was effective in preventing cases of the COVID-19 coronavirus, market participants showed increased confidence in their exploration of higher prices.
Going back, last week started off with a clear break and acceptance above the $3,500 high-volume area, which suggested initiative buyers were firmly in control. Index futures pared gains after Monday’s end-of-day spike liquidation, balancing for the remainder of the week.
Given Friday’s end-of-day rally, away from value, the week ended just above the balance area, providing a clear trading framework for the week that follows. Therefore, if participants were to continue their initiative activity and spend time outside of the balance area, then it's likely the market will continue higher. Otherwise, the potential exists for a failed break, which may precede re-entry into the prior balance area, and further range-bound, responsive trade.
Fundamental:
In a commentary, BlackRock discussed investing after the U.S. election and suggested more of the same market trends. bit.ly/32OyiNT
“Joe Biden’s victory in the presidential race likely ushers in a near-term market environment dominated by low rates, a hunt for yield and growth stocks. A Democratic takeover of the Senate looks unlikely, which would constrain the Biden administration’s ability to implement large-scale fiscal stimulus and public investment, tax, healthcare and climate related legislation.”
Additionally, BlackRock cautioned investors to pay attention to economic data from the euro area and U.S., as well as watch for the government’s response to the resurgence of COVID-19 coronavirus cases which may pressure the pending recovery.
Key Events:
Monday: Fed Clarida Speech, Fed Daly Speech.
Tuesday: Retail Sales MoM, Industrial Production MoM and YoY, Business Inventories MoM, NAHB Housing Market Index, Fed Bostic Speech, Fed Daly Speech, Fed Williams Speech, Foreign Bond Investment, Overall Net Capital Flows.
Wednesday: MBA Mortgage Applications, Building Permits MoM, Housing Starts MoM, Fed Evans Speech, EIA Cushing Crude Oil Stocks Change, EIA Distillate Stocks Change, Fed Williams Speech, Fed Bullard Speech, Fed Bostic Speech.
Thursday: Continuing Jobless Claims, Initial Jobless Claims, Fed Mester Speech, Philadelphia Fed Manufacturing Index, CB Leading Index MoM, Existing Home Sales MoM, Fed Mester Speech.
Recent News:
Negative 2021 outlook as pandemic fallout weighs on economies. bit.ly/2ICndby
Pfizer Inc (NYSE: PFE) COVID-19 vaccine data is credit positive. bit.ly/2Uwzsct
Resurgent COVID-19 threatens corporate credit’s improved trend. bit.ly/36FhB8K
Eurozone consumer prices likely to slide for the month of October. bit.ly/36FhB8K
Joe Biden’s clean energy platform is very heavy on clean transport. bit.ly/3lzsHT4
US banks’ tightening of underwriting standards slows, but remains. bit.ly/3f2xgCR
IEA says oil demand will not get a vaccine boost until later in 2021. reut.rs/3kyTDRJ
Sour China-Australia ties hit talks over a liquefied natural gas deal. reut.rs/3f2orZZ
Joe Biden’s path back to an Iran nuclear deal won’t be easy or fast. bloom.bg/3ltXbWu
A COVID vaccine would boost the global economy, but not at once. on.wsj.com/32MXAvV
Alphabet Inc (NASDAQ: GOOGL) delivers internet with light beam. bit.ly/3kwmwxS
Monthly Funding Recap: Unicorns are born, funding holding steady. bit.ly/3ppvLU2
The IPO pipeline looks robust and these companies could go public. bit.ly/3pyJ70c
Dalio suggested markets are at a special moment with China's rise. bloom.bg/3puv2B2
Wells Fargo & Co (NYSE: WFC) executives charged by the SEC. reut.rs/32NVrA1
Ford Motor Co (NYSE: F) considers making its own EV batteries. reut.rs/2IvgSPH
U.S. consumer sentiment ebbs; producer prices maintain their rise. reut.rs/32NdPJh
Insurers face questions on ability to cover claims after a Fed report. reut.rs/2IDeGpb
Key Metrics:
Sentiment: 55.8% Bullish, 19.3% Neutral, 24.9% Bearish as of 11/11/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Neutral) 6,032,392,989 as of 11/13/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Neutral) 43.1% as of 11/13/2020. bit.ly/2UpgtRE
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
