Weekly preview

Market preview – week of Mar. 30, 2020

Summary The S&P500 index  is expected to end its short-term oversold bounce. The overhead resistance line at 2688-2700 zone could be the top for a second leg decline. Oil is expected to stay under $25 and continue fighting to hold above the $18.50 level. GOLD  is expected to stay under the $1700 level early in the week; later movement will depend on whether it can close above $1700 or not. If it can, a move higher should be expected. Full weekly preview width=100%]   Or … Continue reading

Market preview – week of Mar. 23, 2020

Summary The S&P500 index  is expected to have some short-term oversold bounce. But as long as index stays under 2700, the trend is down, and more selling should be expected after a good bounce. Oil  is expected to hold above $18.00-$16.50 this week. GOLD  is expected to stay under $1650.00 if there is a bounce early in the week and then form a daily bearish H&S pattern. Full weekly preview width=100%]   Or click the pop-out arrow in the top left corner of the image … Continue reading

Market preview – week of Mar. 16, 2020

Summary The S&P500 index has to repeat last Friday’s move first before it can make a substantial retracement. But a large consolidation range is expected to set up. The volatility could go relatively low into quadruple witching expiration day this week. Oil is expected to hold above last week’s low at $27.31 and continue to build support above it. GOLD  is expected to stay under $1600 level until Friday. Full weekly preview width=100%]   Or click the pop-out arrow in the top left corner of … Continue reading

Market preview – week of Mar. 9, 2020

Summary The S&P500 index  is expected to hold above the 2850 level, but if the bounce can’t get above 3150  a breakdown should be expected. Oil  is expected to have new lows first before it bounces. The bounce will likely remain below the re-test of the broken support around $49.50. GOLD  could whipsaw in both directions this week to trap both buyers and sellers. The direction of the next price move is uncertain. This week watch $1700 for a rally or $1635 for a decline. … Continue reading