Weekly Inter Market Analysis Oct 2-2016

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See previous week Weekly Inter Market Analysis.

Original post from http://mystocksinvesting.com

SPY (SPDR S&P500 ETF)

SPY rebounded from the resistance turned support zone. SPY is still trading in a Rising Wedge pattern and on uptrend after forming “higher high, higher low” chart pattern. Keep an eye on on key supports:

  • Resistance turned support zone: 211-213
  • Rising Wedge immediate support: about 210
  • Previous Head and Shoulders neckline support: about 204.
  • Rising Wedge next support: about 200

spy-oct2-2016

 

The following is the S&P500 Q2 2016 Earning Dashboard.

  • Close to 100% has released earning.
  • 71% have reported earnings above analyst expectations, 11% reported earnings in line with analyst expectations and 18% reported earnings below analyst expectations.
  • 53% have reported Q2 2016 revenue above analyst expectations, 0% reported earnings in line with analyst expectations and 47% reported earnings below analyst expectations.
  • S&P 500 Earnings Dashboard | Sep. 27, 2016

    2016q2_sp500_earningsdashboard_160927

 

VIX

VIX stays below 15 – a complacent zone.

vix-oct2-2016

 

 

Sector Performance (SPDR Sector ETF)

  • Best Sectors: Energy (XLE)
  • Worst Sector: Utility (XLU)

sector-performance-oct2-2016

 

 

SUDX (S&P US Dollar Futures Index)

SUDX is still trading within a Symmetrical Triangle and likely to be trading in a tight range until a breakout. No rate hike from last FOMC statement. Next FOMC statement on Nov 1/2.

sudx-oct2-2016

 

 

FXE (Currency Shares Euro ETF)

FXE is curently trading sideway and range bound. No rate hike from last FOMC statement. Have to wait till next FOMC statement on Nov 1/2 before we can see the next big move.

fxe-oct2-2016

 

 

XLE (SPDR Energy Sector ETF)

Uptrend channel redrawn. XLE moves above 69.31. Critical support at 64.74 which has been tested for 5 times.

xle-oct2-2016

 

 

USO (United States Oil Fund)

USO is still trading in a Symmetrical Triangle. Currently testing the triangle resistance at about 11.00. Watch for the breakout.

uso-oct2-2016

 

 

TLT (iShares 20+ Years Treasury Bond ETF)

TLT is just resting on the 137.51 support. If the support is broken, TLT may continue to move downward.

tlt-oct2-2016

 

 

GLD (SPDR Gold Shares)

GLD looks like forming a Descending Triangle (in green). Expect GLD to trade in a range until breakout.

gld-oct2-2016

 

 

Next Week Economic Calendar

Key events:

  • US releases ISM Manufacturing PMI on Oct 3 (Monday)
  • Crude Oil Inventory on Oct 5 (Wednesday)
  • Non Farm Payroll & Unemployment Rate on Oct 7 (Friday)

economic-calendar-oct2-oct-8-2016

 

 

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