Today, markets traded lower as Fed Chair Jerome Powell provided uncertainty regarding the projected length of an economic recovery and stated additional government aid could be “worth it.” Similarly-discouraging comments from Dr. Fauci on Tuesday and the latest batch of underwhelming economic reports are also pressuring markets, with all three major U.S. indices down over […]

Based on our models, the SPY will trade between $270-$295 level in the next 2-3 weeks. Several sectors have already broken through their recent overhead resistance levels, eliminating the potential for the market to retest $260 SPY level, in our opinion. We will be a buyer into any short term corrections but will continue monitoring […]

RoboStreet – May 7, 2020 Bumping Up Against Resistance…Again Rising hopes of the economy getting back on good footing by mid-summer has the broad market making another attempt at challenging overhead resistance for the SPY at the $290-$295 level where the bearish camp is putting up a good fight. The rally back towards the psychological […]

Following several sectors breaking through their recent overhead resistance levels, we no longer believe the market will retest $260 SPY level and we will be a buyer into any short term corrections. Today, markets remained mixed with the Dow lowering nearly 1% while the Nasdaq is up 0.5%. High unemployment data is pressuring U.S. stocks today […]

Based on our models, SPY will trade between $270-$295 level in the next 2-3 weeks. The market can overshoot support and resistance levels when VIX is trading near $40 level. Today, markets are trading modestly lower, continuing last week’s end-of-week selloff, with the Dow and S&P trading in the red while the Nasdaq holds on […]

RoboStreet – April 30, 2020  Great Finish To A Wild Month  After the month of March was the worst for the market since 2014, the month of April will turn in the best performance since 2014. It’s been the shortest recession in history as the S&P 500 is now only 14.7% off its all-time high, […]

Ahead of today’s FOMC announcement, U.S. stocks saw sharp gains with several positive reports regarding government-run clinical trials coming out. The latest news was able to counter the expectedly underwhelming GDP report, which saw a 4.8% loss in Q1, as well as the hit-and-miss nature of the latest earnings season. With most companies reporting slowdowns […]

Today, several sectors were able to break through recent overhead resistance, such as small-cap stocks and homebuilders. As mega-cap technology stocks are set to announce earnings, this week will be crucial in deciding if markets will pull back to $260-270 level or if markets will retest 200 days MA at $300 level for the SPY. […]

RoboStreet – April 23, 2020  Selling On Earnings News Could Paint Tape  First-quarter earnings season is in full swing and giving investors some clues as to what to expect over the next two to four weeks. Heading into the front end of the reporting period, the market has enjoyed a 23% rally off the March […]

After three sessions of trading lower, U.S. benchmarks rebounded today behind the news of an additional stimulus package and stabilizing oil markets. On Tuesday, Congress passed another economic relief bill which added nearly $500 billion towards small businesses and an additional $100 billion aimed at health care. Elsewhere, corporate earnings continue to underwhelm amid COVID […]