Market preview – week of December 23, 2019

Summary The S&P500 index has a very short-term overbought condition, and may start pulling back sometime this week. But the movement could be over very quickly: a fast drop and a fast bounce. Oil  is expected to retrace near the $57.50 area this week. GOLD  is expected to hold above $1445 level for the rest of year. Full weekly preview (free)   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 December 16, 2019

Summary The S&P500 index may test last week’s high, but the short-term overbought condition could lead to a pullback. Oil  is expected to hold up above the $57 level and go higher. GOLD  is expected to hold above the $1445 level for the rest of the year. Full weekly preview (free)   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 December 9, 2019

Summary The S&P500 index is expected to make new all-time highs early in the week and sell off after the 2:00 p.m. Wednesday FOMC announcement. Oil  is expected to hold up above 200-dEMA line and attempt to break overhead resistance at the $60.50 level. GOLD  is expected to move low first and make a small bounce after the FOMC announcement. However if gold price goes up before FOMC announcement, there is a big chance to sell off after it. The FOMC statement is often followed … Continue reading

Market preview – week of December 2, 2019

Summary The S&P500 index may continue pulling back on Monday, but expect it to bounce before the ADP employment report. Market will focus on Friday’s non-farm payroll report this week. Watch the 3100 support line; if it is broken, we are likely to see a re-test of the 3020 area. Oil is expected to hold above the $54 level for a small bounce that stays below the $58.35 line. The bounce should not last long. If price fails to hold above $54, the next downside … Continue reading