75% of WYNN revenue has exposure to China.
With the recent political news we are getting on "partial trade-deal", WYNN is up over 7% with above average volume.
Could be a good opportunity. Great risk reward ratio. (Check chart).
Trump has said many times before, he did not want a "partial" trade deal.
There seems to be real volume and buying, sending the whole market to highs.
There is a possibility that this "partial deal" is just a delay of tariffs (october 15th, and December?) and buying of agricultural products (soybeam, pork). Which we have seen before, unfortunately, to mean...
Back in the middle of June, we jumped over $182 to $185 approximately.
We are in a short-term bull trend, a support at the 200SMA.
If we can fill the gap (check chart), we could see a rally up to $200.
Today's market showed some breath, specially for software. Which is normally a growth>value story.
$118 is the closing gap resistance.
Important market sentiment:
Tomorrow October 4th will be a deciding move, as we get the employment report before the open (8:30am ET).
With recent continued weak manufacturing data, this employment data could tell us if a...
OBV keeps a steady uptrend, surprisingly... Since its price has dropped about 40%.
Fibonacci retracement has its 61.8% line at $102.
We are at a SMA(100) support.
Market moving out of growth, into value.
Moving market news
Pivotal research downgrades to $60 (SELL).
Comcast (CMCSA) is gifting its streaming box, it was selling it...
BABA is breaking an important resistance, tested 4 times since late July.
It Opened above resistance, and is growing with above daily average volume.
Great risk reward ratio entering position entering a position at $181, sell around $195.
HEI has been on a steady uptrend since late May 2019.
On September 9th, It dropped 20%+ aggressively in 3 days. To land on the 61.8% fibonacci retracement line. (Pullback?)
It is currently breaking the 50% level with above average volume....
Using the FOMC tool, we see a:
25 basis points rate-cut --> 58.8%
NO rate-cut --> 41.2%
To get these rates:
Tomorrow's volatility will surely grow, even if the FOMC cuts rates; with these percentages, we can expect J. Powell to suggest no more cuts in the future.
You can also expect Trump...
As the market uncertainty is growing, and with the Fed meeting tomorrow Wednesday September 18th.
Investors rotated out of growth, to value stocks. But paying about $100 for OKTA shares might be an excellent option, with a RRR of 5:1.
We see a divergence between the OBV indicator with a downtrend since august. (short-time bear)
Heavy resistance will probably be tested soon around $90. / check chart for more details
On a daily chart, the Russell is looking great, however, on the weekly chart shown above. The Russell is reaching a resistance on what we can see is a downtrend of lowers highs, and lower lows.
Take profits and protect your gains. This is a very bearish flag.
As shown in the chart, we are testing a heavy resistance tested multiple times.
Technical indicators are showing mostly consolidation.
If I were thinking of getting into a position, I would wait. If I had Alibaba stock, I would strongly consider taking profits (selling 50% +)
Obviously breaking this resistance would be an important step towards a strong uptrend.
On June 20th, we started and important channel, and we are back at this level at $55.5
Since this date, we have a slight RSI upward trend, with an even bigger OBV uptrend.
Fibonacci retracement level at 50%
Earnings will be announced Thursday September 12th, after the close.