Weekly preview

Market preview – week of Jan. 14, 2018

Summary The S&P500 index is expected to have a decent retracement this week. A failure to hold above 2510-2500 zone could lead index to move down quickly. Oil is expected to pullback to retest $49.50-$50.00 zone, but as long as this zone holds up, a rebound should be expected. GOLD is expected to continue having a sideways move for consolidation until it gets ready for the next breakout. Full weekly preview (free) Or click the pop-out arrow in the top left corner of the image … Continue reading

Market preview – week of Jan. 7, 2018

Summary The S&P500 index is expected to continue the bounce for another week. The 2575-95 zone remains the target for a test of the high level – provided the index stays above the 2450 line. Oil is expected to go sideways for consolidation within the $50.50 to $45.20 range. GOLD had a reversal candle last Friday> It could start to have a small correction move and retest the $1264 area, the top line of longer-term rising uptrend. We expect this line can hold gold up. … Continue reading

Market preview – week of Jan. 2, 2018

Summary The S&P500 index has bounced about 7% from the December low. It could bounce a little more, but probably not much: lots of resistance areas ahead, and we probably have not seen the bottom of this decline yet. Oil has fallen from the 2018 high around $76 to a low last seen in 2017. There has been a little bounce, but we may see a re-test of the low to shake out over-optimistic buyers before there is any decent short-term rally. GOLD has broken … Continue reading