Summary US markets are closed Jan. 20 for the Martin Luther King holiday. Globex markets are open but expect light volume. US markets resume normal trading Jan. 21. The S&P500 index is too hot in the short term, and the overvalued market may surprise some investors. However the favorable season (for stocks) suggests the rally may carry on for a little while, especially if there is a minor pullback this week. Oil is at a critical price level which will determine the direction it should … Continue reading
Category Archives: Free Weekly Preview
Summary The S&P500 index is expected to have a minor short-term pull back as long as the index stays under the 3285 line early in the week. Oil is expected to hold price above $57.85 in the early week to facilitate a bounce under the $64 line. GOLD is expected to hold above $1500 level and rebound later. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image to read it on this page. … Continue reading
Summary The S&P500 index is expected to retest the low 3205-3200 zone. If this support zone holds there is a chance for the index to bounce back near last Friday’s high area. Otherwise this week the index can go lower near the 3150 area for testing. Oil may go higher first if more external war news continues goosing the price. Any minor early pull back near the $60.50 area could be seen as a buying opportunity by the long side. GOLD is bullish. We expect … Continue reading
Summary The S&P500 index has a very short-term overbought condition, volume could be the same as last Friday, the price is expected to have a pullback into the 3210-12 zone. But holiday emotion will help to hold the price up until next week. Oil is expected to retrace near $59.50 area if it fails to move above $62.25. GOLD is expected to hold above $1495 level for rest of week. If there is a decent retracement it will be seen as an opportunity by the … Continue reading
Summary The S&P500 index has a very short-term overbought condition, and may start pulling back sometime this week. But the movement could be over very quickly: a fast drop and a fast bounce. Oil is expected to retrace near the $57.50 area this week. GOLD is expected to hold above $1445 level for the rest of year. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image to read it on this page. … Continue reading