$CFLT bounced off a significant price support, an area of value with significant buying interest. this would be the 3rd time $58 held through the 3 period of market weakness (Oct'21, Dec'21 and now)
$NVDA a semicon darling, transited to a descending triangle pattern over the week. relative weakness to price action, and broken down 50MA completely. importance of having sell rule, and executing the sale if things are not working.
$FXLV broke above its VWAP anchored from a high established prior to Q3 earnings sell down. 1-month RS. higher lows in price action, trading above a potential rising 10 and 20MA. daily price range remains volatile at 6.49% to price. $11.85 would clear 3 weeks high
$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.
$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)
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. $RSP broke out...
The big story on the emergence of a new strain of COVID-19 in South Africa caused Wall Street’s three main indices ($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...
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....
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...
This Wednesday’s Fed policy announcement will be the main directional driver for equity markets as investors will be expecting to hear if the central bank will begin withdrawing stimulus this year. Several policymakers have been calling for early tapering despite the recent slowdown in inflation numbers. On the economic data front, notable publications include...
All eyes will be on Federal Reserve’s annual Jackson Hole symposium’s speech by Fed’s Chairman Powell on Friday, with investors hoping for indications on when the Fed will begin tapering the monetary stimulus that has powered stocks to record highs since the COVID-19 pandemic. The economic calendar also features a string of economic data, including US personal...