Market preview – week of Nov. 2, 2020

Summary The S&P500 index is expected to hold above 3165 as we wait for the results of the US election. There may be a brief short-term relief bounce but for the longer term the index could go lower into the end of year. Oil is expected to continue going down after a possible attempt to bounce early in the week. GOLD is expected to hold above the $1850 key line waiting wait for the election result. After the results are known, gold is expected to … Continue reading

Market preview – week of October 26, 2020

Summary The S&P500 index is expected to stay under 3350 and go back down near its 20-dEMA line to wait for the election result Nov. 3. Oil is expected to continue inside its range from $43.50 to $36.50 GOLD is expected to hold above the $1885 key line and fight to move above the overhead resistance at $1925 and move higher. Full weekly preview   Scroll down to see the full analysis. Or click the pop-out arrow in the top left corner of the image … Continue reading

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