Market preview – week of Feb. 18, 2019

Summary The S&P500 index is expected to have a bump and dump move this week to resolve short-term overbought condition. Oil is expected to have a breakout move first before rollover into April contract on Friday. GOLD is expected to continue rallying as long as price stays above $1316.50 line. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image to read it on this page. Best daily trade last week? Coming soon Previous Gold long last Monday … Continue reading

Market preview – week of Feb. 11, 2019

Summary The S&P500 index is expected to be relatively quiet toward the end of the week due to option expiration Wednesday. 2650 is a key line. A move below it will be very negative. Oil is expected to continue to pull back early in the week. But $50.25 is major support area. GOLD is expected to hold above $1290-$1300 zone and is struggling to move higher. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image to read … Continue reading

Market preview – week of Feb. 4, 2019

Summary The S&P500 index is expected to have a minor pullback, but 2696-95 will be a key area to watch. Failure to hold up this zone could lead to a move further down toward the 2670-65 area or lower Oil is expected to continue moving up first before it makes a retracement. $50 is a major support area. Any re-test of $52.50 is expected to see buyers enter. GOLD is expected to have a retracement to fill last week’s two unfilled gaps, but the support … Continue reading

Market preview – week of Jan. 28, 2019

Summary The S&P500 index is expected to continue its rally, but there is a lot of economic data due this week and a n abundance of external news events. All of this will affect the market. Oil is expected to attempt to break out from the overhead resistance zone around the $55-$54.50 zone this week. GOLD is expected to have a very small pullback first early in the week. But the rally is likely to continue later. Full weekly preview (free) Or click the pop-out … Continue reading

Market preview – week of Jan. 21, 2018

Summary The S&P500 index could go in either direction under the influence of external news events which this week may be more significant than technical indicators. Oil is expected to stall under $55.50-$57.50 zone and retrace a little bit. But we expect the $50.00-$49.50 zone to hold up . GOLD is expected to continue pulling back into the $1260 area. But if equity markets retrace early in the week gold may find support around the $1280-75 zone. Full weekly preview (free) Or click the pop-out … Continue reading