$PRTA late stage biotech firm. have higher low tightening price action since mid dec, closing above 10/20 and 200MA for the first time after a ATH peak to trough correction of -38% 3 months ago. lucrative risk reward if this trades work
$ZS supported on 10/20MA crossover, along with AVWAP from high. significant day as it will be contesting a rising 50DMA again this week at $332.55. relative weakness is displayed on RS's 50MA against price 50MA.
$QCOM setup on both daily and weekly displays a pretty HTF with 50DMA / 10WMA catching up to its current consolidation. this is one of the few semicon setup that have not rallied beyond its ATH this week
$MF got chopped out once in earlier in december. current price action remains constructive and tight (volatility on ATR contunue to tread lower),along with a longer term cup and handle pattern. looking to challenge AVWAP low again ($4.50)
$SUM reflected intraday RS, wriggling out of its downtrend line. it is one of the few names with a price action supported on its rising 50MA during the December market weakness.
Market Technicals (Rally Cycle Count: Day 4 of 25) $SPX (S&P 500) vs $RSP (S&P 500 Equal Weight) – (Net High/Low +70) $SPX posted a solid gain of +2.28% (+105.13 points), erasing the losses experienced in the earlier week. With $SPX closing at 4,725 level, it remains below its all time high level that have tested four times over the past 8 weeks. $RSP broke out...
$GXO bouncing off its IPO AVWAP at every pullback of its HTF. basing out of a two weeks consolidation, punching through all short term MAs and ATH AVWAP. actionable trade for the week
The big story on the emergence of a new strain of COVID-19 in South Africa caused Wall Street’s three main indices ($SPX, $NDX, $RUT) to tumbled on Friday as they re-opened after Thursday’s Thanksgiving holiday with energy, financial and travel-related stocks bearing the brunt of the selloff. The renewal or pandemic fear has outlined as the biggest risk to today’s...
US markets will be closed on Thursday and will close early on Friday for the Thanksgiving holiday. The market will be paying close attention to Wednesday’s FOMC meeting minutes for fresh insights into the impact of soaring inflation on the future path of interest rates. Markets may also reprice the timing of future rate hikes if President Joe Biden were to...
As U.S. inflation has surged to the highest level in over thirty years, inflation is likely to remain in focus in the coming week with investors looking ahead to the latest U.S. monthly retail sales figures along with earnings results from major retailers, including $WMT (Walmart). With $SPX (S&P 500) erasing its weekly losses from Friday’s late week rally, the...
As U.S. inflation has surged to the highest level in over thirty years, inflation is likely to remain in focus in the coming week with investors looking ahead to the latest U.S. monthly retail sales figures along with earnings results from major retailers, including $WMT (Walmart). With $SPX (S&P 500) erasing its weekly losses from Friday’s late week rally, the...
Investors are to take note of the end of Daylight Saving Time (DST) that will effectively have the US exchanges open at an hour later, depending on your time zone starting today. $SPX is currently closed at 200% ATR(14) away from its 10 days moving average, the first time since September 2020. Data on inflation will be the highlight of the U.S. economic calendar...
With major U.S. indices – S&P 500 $SPX, NASDAQ Composite $NDX, and Dow Jones Industrial Average $DJI – all at all-time high closes, market optimism will be tested from all sides this week, as a slew of corporate earnings, non-farm payrolls, and a Fed meeting that is expected to signal the start of QE tapering. Here’s what you need to know to start your week. The...
Investors will be preparing for the busiest week of earnings season, with focus turning to reports from several tech giants including Apple ($AAPL), Alphabet ($GOOGL), Amazon ($AMZN), Microsoft ($MSFT) and Facebook ($FB). There are also some key economic reports in the coming week, including a first look at U.S. third quarter GDP (Advance GDP) on Thursday....
Better than expected Q3 earnings reports from major banks powered global stock indexes to a winning week with most banks beat significantly on the top and bottom line. The earnings season continues this week, with companies such as IBM ($IBM) , Netflix ($NFLX), Tesla ($TSLA), Intel ($INTC), Johnson & Johnson ($JNJ) and P&G ($PG) reporting their...
Third-quarter earnings season gets underway with major banks; JPMorgan Chase ($JPM), Bank of America ($BAC), Wells Fargo ($WFC), Morgan Stanley ($MS) and Goldman Sachs ($GS) reporting later in the week. It is also a relatively busy week ahead on the economic data front with inflation driven US Consumer Price Index report (Wednesday) for September will will be...
Data released last Friday reflects a faster pace of growth than expected in September for US Manufacturing and ISM Manufacturing PMIs. However, it’s likely that investor focus will return to worries about inflation, along with Federal Reserve tightening on the horizon. This Friday’s monthly US employment report will be adding to the potential market jitters,...
Expect markets to remain at last week’s levels of raised volatility for the final week of the third quarter with investors keeping an eye on fresh economic data for the US including the ISM Manufacturing PMI and PCE inflation. Fed Chair Powell will also testify on Coronavirus and CARES Act before the Senate and lawmakers will try to pass a funding plan to avoid a...