Weekly preview

Market preview – week of Dec. 11, 2017

Summary The S&P500 index could hold above 2625 level until Fed rate announcement. Later in the week moves will depend on the Fed statement and Yellen’s press conference. Wednesday.  Quadruple witching expiration on Friday may lead SP500 index to have a big swing. But we still expect 2600 major support line will hold up. Oil:  a major pullback could be completed soon.  $55-54.75 zone is expected to hold up and allow oil to make a double top pattern. GOLD could stay under $1265-70 zone until … Continue reading

Market preview – week of Dec. 4, 2017

Summary The S&P500 index is expected to repeat last Friday’s range in the early days. The futures roll over to the next contract on Friday. 2600-2575 will be the support zone and we expect it to hold up this week. As long as 2575 holds up the short-term trend remains up and buyers will continue to enter on dips. Oil is expected to have a major pullback soon. The $55-54 level could be the downside target if/when a pullback occurs. Friday’s bounce didn’t change the … Continue reading

Market preview – week of Nov. 27, 2017

Summary For the ES we expect a minor pullback in the early part of the week, followed by a rally into the weekly close. There are four option expirations this week that will affect trading, and the GDP report on Wednesday will more or less determine how far the price can dip and then bounce. Oil broke last week’s high and made the highest high since 2015, to establish a new intermediate-term uptrend. $58 was a breakout point last week and it may pull back … Continue reading

Market preview – week of Nov. 20, 2017

Summary The S&P500 index is expected to repeat last week’s range move. The 2550-35 zone is likely hold up again for short-term pullback. Because of the Thanksgiving holiday most of the action will be concentrated in the first three days. Expect buying on dips as shorts stranded last week cover losers. Oil is expected to go up first and pullback later. But $52.86 breakout point needs to hold up to prevent oil from falling.The December contract will expire this week, and the price on the … Continue reading