Our models are projecting the SPY to trade between $270-$330 level and it is our opinion the market remains overbought. We will continue monitoring VIX, as the market can overshoot support and resistance levels when VIX is trading near $30 level, and we will be buyers into any short-term corrections. While the spread of COVID in […]
RoboStreet – June 25, 2020 Rising Virus Numbers Put Brakes on Rally The rally of the past two weeks came to a sudden halt Wednesday as reports that the U.S. tallied its highest count of new daily coronavirus cases yet. Following a broad sell-off in all 11 sectors, the market found a bid yesterday by […]
Markets are continuing to trade lower this week as all three major U.S. indices booking losses of at least 2% today while all 11 S&P sectors finished lower. With notable surges throughout the U.S., COVID concerns are once again impacting U.S. stocks; the latest data shows an increase of cases in several states that have […]
Tech-stocks are helping push markets higher as all three major U.S. indices closed in the green today. Last week, markets were assisted by positive payroll and retail data while this week’s focus turns towards consumer spending, inflation, and housing data. Several speeches from Fed District Presidents are scheduled for this week as well as the […]
RoboInvestor – June 18, 2020 Market Hits Pause As Virus Numbers Rise Certain states are seeing COVID-19 caseload and hospitalization numbers rise as a byproduct of the reopening of economic activity. While it was fully expected that this would be a given, there are some hot spots in Texas and Florida that have investors viewing […]
After trading higher for several sessions, including earlier today, U.S. stocks traded lower to close the day. Both the Dow and S&P saw gains turn red in the final hour of trading while the Nasdaq held on to modest gains. Continued coronavirus fears are once more impacting markets both in the U.S., with several states […]
Our models are projecting the SPY to trade between $270-$330 level in the next 2-3 weeks while the market is unlikely to retest $260 SPY level at this time. All three major U.S. indices traded higher today following comments from the Federal Reserve which promised to expand its emergency corporate debt loaning program. Global stocks […]
RoboStreet – June 12, 2020 Good Time To Hedge With Gold Big losses from fresh fears of new spikes in COVID-19 cases and hospitalizations triggered a widespread equities sell-off in what was already grossly overbought market. Traders just needed an excuse to book short-term gains and they certainly got one. The S&P 500 dropped 5.9% […]
Today, most U.S. stocks traded lower with the S&P and Dow closing in the red while the Nasdaq was able to hold on to modest gains. Fed Chair Powell met with the press following the conclusion of the two-day Federal Open Market Committee meeting this afternoon and announced the Feds intention to keep interest rates […]
Our models are projecting the SPY to trade between $270-$330 level in the next 2-3 weeks and the likelihood for the market to retest $260 SPY level remains low. U.S stocks extended last week’s rally as all three major U.S. indices traded higher today with many stocks nearing intraday records. The rally looks to be […]
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