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...
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...
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...
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,...
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...
LSE:JET2 Jet2 like the rest of the aviation market had a terrible time performance wise due to covid and lock downs, price now at a long term support, i expect it to be respected and bounce from here, perfect place for a buy, fundamentals for Jet are great as well as the technicals which i have indicated in my TA.
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...
The S&P 500 has completely retraced the small rally we saw at the beginning of October as sobering reality smacks down hopeful exhuberance. The markets are pricing in more hawkish rhetoric, and bracing for CPI on Friday. We made a valiant attempt to hit 3800, but quickly rejected the move all the way back to lows at 3584. We are seeing some support from green...
LSE:HL. 1d candle chart, 4 year downtrend, short for me, maybe 2026 this thing will turn around, support and resistance marked, for sensible entry and exits.
Germany's largest carmaker and DAX40 group Volkswagen did not perform well on the stock market in recent months and the share price went south. Since the beginning of the Ukraine war, the price lost slightly over 50% or 126€. On the overarching chart picture, however, this sell-off is only part of an overarching correction according to my assessment. The market...
Stocks have wavered as the markets digest higher weekly unemployment rates and new statements from the Fed. The Fed remains unconvinced at how effective the 'Inflation Reduction Act' will be and Kashkari has stated that the Fed has 'more work to do' to bring down inflation. The S&P 500 has topped out at 3810 with multiple red triangles confirming resistance. ...
As mentioned in our report yesterday, stocks have edged higher but are facing resistance at 3792. A red triangle on the KRI confirms resistance here. We are seeing support at 3749, after the pullback. The Kovach OBV has gained strength but has receded. If we can see another burst of momentum, we may make a run for the 3800's. If not, expect further support at 3714.
US OIL still has a correction of at least 30% ahead of it. According to the Elliott Wave calculations, we have seen the end of the correction of the superior 2 in April 2020. Since then, US OIL has risen almost 20000% to the top. Those who were invested then have been able to take good profits. Unfortunately, these times are over. We saw the top at the beginning...