We have adjusted our “worst-case” short-term scenario to $296 as our models are projecting the SPY to trade between $296-$330. As long as the market trades above the $323 level for the SPY, Market Commentary readers can consider adding to their positions using market pullbacks. All three major U.S. indices closed in the green today […]
After trading impressively higher last week, U.S. stocks added to their gains this week as all three major U.S. indices closed in the green. Strong performance from the tech sector and the latest positive economic data released, including earnings, are helping markets trade higher. This week, stimulus talks resume in D.C. with Treasury Secretary Mnuchin […]
RoboStreet – July 16, 2020 Rotation Into Value Looks Legit Without question or argument, mega-tech, biotech, and leading high-PE growth stocks have led the rally, taking the Nasdaq to a series of new all-time highs. Coming into the month of July those stocks got over-extended, over-owned, and over-valued – triggering a pause in what has […]
Our models are projecting the SPY to trade between $296-$330 level; we are raising our “worst-case” short-term scenario to $296 as sector leadership widens and China continues to break out from their recent trading channel. All three major U.S. indices traded higher Tuesday and Wednesday following positive news regarding a COVID vaccine from Moderna. Corporate […]
Markets started off the week with mixed results as the Nasdaq and S&P closed lower while the Dow held on to small gains. News of two vaccines receiving the “fast track” status by the Food and Drug Administration supported U.S. markets in early morning trading while the continued rise of reported cases provided additional pressure. […]
RoboStreet – July 9, 2020 Alert! Golden Goose Lays Another Egg Cross-currents are forming within the market internals that have traders and investors are having to factor in and weigh out. Earnings season is just around the corner with literally 80% of all S&P 500 companies offering no guidance, the $600 per week federal assistance […]
Until the market reaches $320 level for SPY, aggressive traders can consider adding to their positions. Our models are projecting the SPY to trade between $285-$330 level. We are raising our “worse case” short-term scenario to $285 with China clearly breaking out from their recent trading channel as sector leadership remains narrow. Following a dip […]
After the holiday weekend, markets held onto their gains with all three major U.S. indices trading significantly higher. Tech and finance shares booked sharp gains while global markets also saw impressive growth- as both European and Asian markets closed in the green. Earnings remain light this week with reports from Walgreens, Shaw Communications, Paychex, and […]
RoboStreet – July 2, 2020 Watch Out For Falling Junk In the Bond Market Back on March 20, right before the market bottomed, S&P Global Ratings put out a dire forecast that high-yield default rates would likely rise to 10% over the next 12 months because of the coronavirus crisis. This would represent a tripling […]
Today, impressive manufacturing and employment data supported markets as all three major U.S. indices are on track to finish in the green. U.S. stocks continued trading modestly higher this week behind the latest earnings and economic reports that have topped expectations; Constellations Brands and FedEx saw shares impressively rise following their positive earnings while General […]
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