Stocks have rounded off, but still edge higher despite disappointing Microsoft guidance , Meta malaise, and general tech sector weakness. Goldman Sachs is bullish on a recovery for Microsoft, and it is one of the only AAA rated companies on the planet. These facts have weighed on the indexes, but have not contributed to much of a sell off yet. If earnings...
The S&P 500 has rallied off increased expecatations of a Fed tapering after housing price data came in negative. Additionally, Coca-Cola and GM posted earnings results yesterday suggesting that there is hope for some companies feared to be hit by inflation. Be careful trading this, as the markets have been fooled before, and we will need to wait for forward...
Stocks have continued to edge higher, though they are looking quite weak. We were able to break past 3792, but the very next level at 3810 is providing significant resistance. The price action rounding off, and red triangles on the KRI are confirming resistance. Additionally, the news sentiment remains bearish, so at some point we are likely to face a swift...
Despite plenty of negative sentiment in the news and a week packed with data, including the Fed's redbook and housing price indexes on Tuesday, GDP on Thursday and PCE on Friday. We hit a high of 3792. We tweeted on Sunday night that this small rally was likely to be short lived and sure enough we are seeing a pull back. The APAC markets are selling...
The S&P 500 has taken an unfortunate turn as abysmal Snapchat profits have taken a turn for the worse and the stock has plummeted naerly 25%. This took down other social media stocks with it, some of which form a formidable component of the S&P 500. We were seeing support at our level at 3676, but the selling momentum has taking us down to 3645, where we are...
Continuing from the last dxy setup i posted. all targets have been met. follow me for up to date financial news!
As predicted yesterday, stocks have met resistance at 3758. We were fairly certain this would be a top due to lack of momentum and the price action 'rounding off'. Also, the news isn't exactly cheery lately. The Fed's Bullard thinks we won't see inflation ease until next year, and Tesla's earnings have disappointed sending the stock tumbling 5%. The major...
Thungela Resources ( $TGA ) This stock has been flying, so I think a cool down period can be expected. It's fighting to stay above support (R250-R280) - really needs to hold here, because if not, there is some downside pain to be expected. Those that missed the bus the first time, will most likely get another opportunity to buy again at lower levels....
The S&P 500 has run into resistance at our level at 3758. We have predicted this to be the case yesterday. Recall that we should run into prohibitive resistance here, but if not, the next target is a relative high at 3810, which we anticipate to be a ceiling. Today is a make-or-break for stocks. If they can break out, then we will be able to test higher...
Quick short idea on SPY. Wait until it breaks the wedge before entering.
Stocks have gained after ' shrugging off ' yet another worse than expected inflation print. Additionally, traders seem hopeful of good earnings prints as banks lead the way , with strong numbers. All major indexes have risen sharply, with the S&P 500 touching our level at 3758, just below highs at 3810. The Kovach OBV has picked up sharply with the momentum,...
I see a bullish trend reversal and head and shoulders formation pattern taking shape. This is supported by a stronger dollar and rolling blackouts locally, exacerbated by higher local inflation - sentiment is sour. Will add to my TFSA lower down. Let me know your thoughts?
Peak Earnings (Mar. 22') + Peak Stock Price (~$1,200) = Lower Stock Price Price Target: $70/share $TSLA
The S&P 500 has found support at 3584 after the CPI dip tested the base of the 3500 handle. We have since solidly recovered the 3500's, with a strong burst of momentum breaking through to 3714, where a red triangle on the KRI confirmed resistance. We then fell back to support at 3584, and are currently seeing an attempt at a pivot. We identified 3617 and 3624...
Stocks took a sharp dive after yet another hotter than expected CPI print. We tested 3500, then dip-buyers came in and we subsequently pivoted back to recover the 3600's. More momentum followed and we are currently testing our target highs at 3714. Stocks still look strong despite another flaccid data point in retail sales, which came in relatively weak. If we...
#SGXNifty we can see a positive market in upcoming days. SGX:IN1!
Stocks remain subdued, with the S&P 500 maintaining a narrow range all week and hugging lows. The APAC session suggests that the markets are bracing for another extremely hot CPI figure, which some are saying could still be in the 8% range. A hot figure would confirm the Fed's hawkish stance and stymie hopes of a pivot to more dovish rhetoric. The Kovach OBV is...
Stocks appear to have bottomed out at 3584, with support confirmed by green triangles on the KRI. As predicted, we made an attempt for higher levels, but two levels at 3617 and 3624 are providing tough resistance. This is exactly what we predicted yesterday. If we are able to break through the next area of resistance is likely 3676. Risk sentiment is still...