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 […]
RoboStreet – June 4, 2020 Dollar Down – Emerging Markets Up The rally has broadened out to include domestic mid-caps, small-caps, and now the emerging market sectors. Weakness in the dollar is pushing investor interest into liquid Chinese stocks and other Asian equities where they have lagged the U.S. rally for weeks. But that is […]
Markets moved higher today with all three major U.S. indices recording gains as the Nasdaq finished near the all-time closing high. As the country continues to reopen, markets are responding positively to the latest economic data and earnings while, for the most part, not seeing a negative impact from the recent protests. ADP Employment data […]
In the short term, we still believe the market is overbought. Our models are projecting the SPY to trade between $270-$310 level in the next 2-3 weeks and the potential for the market to retest $260 SPY level is unlikely – as most sectors have already broken through their recent overhead resistance levels. With this […]
RoboStreet – May 28, 2020 S&P Makes A Breakout Move Another good week for stocks is shaping up. The S&P 500 extended the sharp rally to trade above the 3050 levels. The Dow Jones Industrial Average and Nasdaq Composite are up comfortably, too, while the Russell 2000 continues to lag behind the other major averages. […]
Currently, our models are projecting the SPY to trade between $270-$310 level in the next 2-3 weeks. The potential for the market to retest $260 SPY level is unlikely as most sectors have already broken through their recent overhead resistance levels. All three major U.S. indices opened and traded higher today as sentiment continues turning […]
RoboStreet – May 21, 2020 Bulls Embracing Reopening With Open Arms News of all 50 states in the U.S. moving ahead with various phases of reopening their places of business and public facilities have been very well received by the stock market this past week. The timing of the passage in the House of Representatives […]
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