In the short term, the market is overbought. Although the bottoming process started, the market remains susceptible to a 10-20% selloff from the current SPY levels. Consider hedging your portfolio into the rallies until the market breaks through the $263 SPY level. Today, markets rose impressively with all three major U.S. indices trading higher; leading the […]
RoboStreet – April 2, 2020 Retest For Market Underway After hitting up against near-term overhead resistance, stocks are retreating as the data from the spread of coronavirus and weaker-than-expected unemployment claims data sparked a new round of selling that is shaping up as a meaningful retest of recent low over the next 2-10 days. Markets […]
Last week, most sectors were able to sustain multi-day rallies indicating the bottoming process has started. Following a strong start to the week, markets sharply fell with the Dow, Nasdaq, and S&P down over 3% for the day. Until the market breaks through $263 SPY level, consider hedging your portfolio into the rallies as the […]
Today, all three major U.S. indices were able to record solid gains of over 3% while oil and gold saw continued pressure. COVID-19 developments are likely to continue impacting markets as last week’s massive economic stimulus plan goes into effect and global efforts are made towards slowing the spread. Overseas, Asian markets closed in the […]
RoboStreet – March 26, 2020 Three-Day Snap Back Rally A Most Welcome Event Stocks continue to rally sharply on the heels of the $2 trillion fiscal stimulus package approved by the Senate this week along with the Fed’s “unlimited QE” mandate, fueling strong fund flows back into equities. The S&P hit a correction low of […]
As details of the U.S. stimulus package circulated today, with expectation the bill will be signed soon, markets maintained gains throughout the day following all three major U.S. indices recording gains yesterday. Although the deal did not get done during the trading session, markets finished higher, though slightly off today’s highs. Dow led the pack […]
Markets broke through their December 2018 lows and are susceptible to another 10-20% selloff. VIX, GLD, DXY, and TLT are stabilizing and the bottom could be near. With this in mind, we could see the market reaching its low point by the first week of April and we will wait for the market to close with […]
RoboStreet- March 19, 2020 Looking For Any Signs Of Market Green Shoots Following the daily dose of Coronavirus news conferences by President Trump and his healthcare-crisis team, the is some fresh and more optimistic chatter about treatments and therapies that are on all-out fast forward development. At the same time, Congress has approved up to […]
Stocks and futures are seeing continued pressure as Coronavirus spread and concern grows. Overnight, futures hit the limit-down halt while stocks hit the 15-minute halt midday following a 7% drop by the S&P. Following the Fed’s decision to slash rates this weekend and re-open their crisis credit-facility, the White House signaled its intent to support […]
Markets hit the 7% circuit breaker this morning shortly after the opening bell only to continue trading lower following the 15-halt. All three major U.S. indices are down over 8% today with the global impact of the Coronavirus continuing to be felt. On Friday, markets saw decent gains as the Fed announced $700 billi0on in […]
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