Weekly Inter Market Analysis Dec 4-2016

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See previous week Weekly Inter Market Analysis.

Original post from http://mystocksinvesting.com

 

SPY (SPDR S&P500 ETF)

Profit taking after SPY broke the all time high resistance at 219.31 and entered into uncharted territory.  A healthy retracement is needed for SPY to move higher. Take note that the bullish between Nov to April seasonal cycle is going to start.

  • Immediate resistance – 221.50
  • Immediate support: about 219-220. (have to turn to support for SPY to move higher)
  • Resistance turned support zone: 211-213.
  • Rising Wedge immediate support: about 210.
  • 200D SMA support (trending up): about 211

spy-dec4-2016

 

VIX

VIX continues to stay within the complacent zone. No fear when Santa Claus is coming to town.

vix-dec4-2016

 

Sector Performance (SPDR Sector ETF)

  • Best Sectors: Energy (XLE) +2.09% due to a huge spike in Crude Oil price.
  • Worst Sector: Technology (XLK)  -2.68%.

sector-performance-dec4-2016

 

SUDX (S&P US Dollar Futures Index)

SUDX is currently facing resistance and due for a correction. SUDX has moved too high too fast and definitely need a pause or retrace before moving higher.

sudx-dec4-2016

 

FXE (Currency Shares Euro ETF)

FXE looks like finding a support at around 103 and is currently rebounding.

fxe-dec4-2016

 

XLE (SPDR Energy Sector ETF)

XLE is currently facing the previous support turned resistance, and also the uptrend channel resistance.

xle-dec4-2016

 

 

USO (United States Oil Fund)

USO rebounded from the Symmetrical Triangle support and currently testing the resistance. Expect USO to trade within the range until breakout.

uso-dec4-2016

 

TLT (iShares 20+ Years Treasury Bond ETF)

TLT is find support at 118. Wait for the reversal and re-look at the bond market for bargain hunting. Some of the bonds can be very attractive after the recent sell off.

tlt-dec4-2016

 

GLD (SPDR Gold Shares)

GLD looks like finding support at about 112. Will it rebound from here?

gld-dec4-2016

 

Next Week Economic Calendar

Key events:

  • Crude Oil Inventory on Dec 8 (Thursday)
  • ECB Press Conference on Dec 8 (Thursday)
  • US Unemployment Claims  on Dec 8 (Thursday)

economic-calendar-dec4-dec11-2016

See upcoming Events here. http://mystocksinvesting.com/events/

 

Weekly Market Summary.

 

 

 

 

 

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