Market preview – week of September 14, 2020

Summary The S&P500 index  is expected to hold above the 3300 line before the Fed policy announcement on Wednesday. After that, quadruple witch day Friday could lead to big swings in the index. Oil  is expected to hold under $40.52 line for further downside move. GOLD  price could go in both/either direction based on the Fed policy statement Wednesday. Full weekly preview   Scroll down to see full analysis. Or click the pop-out arrow in the top left corner of the image to read it … Continue reading

Market preview – week of September 7, 2020

Summary U.S. markets are closed Monday, open Tuesday. The S&P500 index  is expected to hold price under 3500 to search for an ultra-short-term bottom around 3300-3285 this week. Oil  is expected to hold under $42.52 to enable a further downside move. GOLD  is expected to hold above $1900. Full weekly preview   Scroll down to see full analysis. Or click the pop-out arrow in the top left corner of the image to read it on this page.   … Continue reading

Market preview – week of August 31, 2020

Summary The S&P500 index  is expected to search for its ultra-short-term top this week and pull back to retest the 3400 level at some point. Oil  is expected to make a breakout move above $43.52 – the 200-wEMA line —  this week. GOLD  is expected to pull back to retest the $1950 line this week. Full weekly preview   Or click the pop-out arrow in the top left corner of the image to read it on this page.   … Continue reading

Market preview – week of August 24, 2020

Summary The S&P500 index  is expected to test the psychological resistance at the 3400 level this week. The trading toward the end of the week (and end-of-month window dressing the following Monday) will indicate if the market can break through and maintain a higher level. Oil  is expected to stay under $43.52,  the 200-wEMA line, this week. GOLD  is expected to have one more profit taking move early in the week and bounce from that retracement around the end of the week. Full weekly preview … Continue reading