Weekly preview

Market preview – week of October 19, 2020

Summary The S&P500 index We think that last week’s high is the top for the short term. Any early bounce will meet sellers. 3415 is the control key for any downside move; if it is broken a further decline is likely. Oil is expected to continue inside its range from $43.50 to $36.50 GOLD is expected to struggle to hold the price above the $1875 key line. If it succeeds an attempt to move back up is likely. Full weekly preview   Scroll down to … Continue reading

Market preview – week of October 12, 2020

Summary The S&P500 index is expected to go up first and retrace later this week. 3400 is the key line controlling a downside move and 3445 is the key line controlling an upside move. A move beyond either one is likely to become a break-out. Oil is expected to stay inside the range from $43.50 to $36.50; sell the top and buy the bottom. GOLD is expected to struggle to hold above the $1912.5 key line and then attempt to go higher. Full weekly preview … Continue reading

Market preview – week of October 5, 2020

Summary The S&P500 index is expected to go down first and bounce later in the week. The 3298-3295.50 zone is the control key for any downside move and 3350 is the key to control any upside move. Oil is expected to go down further. The short-term outlook is bearish. GOLD is expected to hold the price above the $1885 key line and attempt to go higher. Full weekly preview   Scroll down to see the full analysis. Or click the pop-out arrow in the top … Continue reading

Market preview – week of September 28, 2020

Summary The S&P500 index  is expected to go up first and pull back later this week. 3325 is a control key for any upside move and 3235 is a key to control any downside move. Oil  is expected to have a sideways movement around the 50-200-dEMA lines first and later in the week chop around to shake out the weak hands. Swings in both directions are possible. GOLD  is expected to hold the price above the key line at $1850. But the overhead resistance line … Continue reading