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 […]

Following a strong week for U.S. benchmarks, all three major indices turned lower today. Although talks of an additional stimulus package have begun making rounds, the latest economic data is illumining COVID’s impact on the economy and adding pressure to most sectors. This week, key earnings will be seen from IBM, Netflix, AT&T, and Intel. […]

RoboStreet – April 16, 2020 Market Moves Forward in Thick Fog  News of more extensions of COVID-19 shutdowns in London, New York and a spike in new cases in Italy has the market back on the defensive at mid-week. Investors were fully expecting dismal weekly jobless claims and industrial production data, but the opaqueness of […]

Markets are seeing a sharp decline following two straight sessions of trading higher as global COVID cases top 2 million. Weaker than expected economic data and corporate earnings are also adding pressure as concern regarding the continued impact of the virus mounts. Corporate earnings season kicked off this week with major banks as usual; Citigroup, […]