Summary The S&P500 index has a major option expiration this week. A whipsaw movement could be seen in the early week days with lower volatility at the end of week. Oil is expected to hold above $53.50 to move back up to the 20- and 50-dEMA line area. GOLD is expected to stay under $1535.50-30 zone and attempt to go lower or retest the $1485-80 zone. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image to … Continue reading
Category Archives: Free Weekly Preview
Summary The S&P500 index is expected to have a continuation rally early in the week and retrace later. China will finish the “golden weekend” holidays on Tuesday, and China trade-deal news will then begin to influence the US market. Oil is expected to have a sideways move this week. The major resistance zone should hold the price down. GOLD is expected to stay below $1535.50-$1545 and retest the $1485-80 zone. Full weekly preview (free) Or click the pop-out arrow in the top left corner … Continue reading
Summary The S&P500 index is expected to stay under 2995 and go lower. The long-term rising trend line at 2980 was broken. If the resistance prevents the market from advancing, the index is likely to retest the 2950-45 zone and perhaps move lower towards 2938-20. Oil is expected to retest $52.50 – the bottom of the established triangle range – but remain inside that range. GOLD is expected to break below the neckline of a short-term H&S pattern absent some external news that reverses the … Continue reading
Summary The S&P500 index is expected to have a continuation low movement first before it is likely to bounce later in the week. For the longer term the rising trend line at the 2980 area will be a key line. A break below it could push price down toward 2950 or lower toward 2938-06. Oil is expected to hold above $56.60 and go sideways this week. GOLD is expected to hold under $1540, absent external news affecting the price. On the downside, we expect the … Continue reading
Summary The S&P500 index is expected to build a short-term double top pattern with new all-time highs. But the FOMC rate policy announcement Wednesday is key to the outcome. A 0.5% rate cut may push the index to new highs; if not, a sell-off should be expected. Oil is expected to have a spiking breakout move early this week, but later may go back into its triangle pattern again. GOLD is expected to hold above the $1485 zone if the Fed cuts interest rates as … Continue reading