Weekly Stock Market Analysis - My Stocks Investing

Weekly Inter Market Analysis Oct 2-2016

Post author:Marubozu
Post published:October 2, 2016

See previous week Weekly Inter Market Analysis.

Original post from https://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

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

VIX

VIX stays below 15 – a complacent zone.

Sector Performance (SPDR Sector ETF)

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

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.

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.

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.

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.

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.

GLD (SPDR Gold Shares)

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

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)

Weekly Inter Market Analysis Sept 25-2016

Post author:Marubozu
Post published:September 25, 2016

See previous week Weekly Inter Market Analysis.

Original post from https://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

VIX

VIX retraces back to 12.3 – a complacent zone.

Sector Performance (SPDR Sector ETF)

Best Sectors: Utility (XLU)
Worst Sector: None
Note: Defensive sectors still lead the aggressive sectors.

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 week’s FOMC statement. Next FOMC statement on Nov 1/2.

FXE (Currency Shares Euro ETF)

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

XLE (SPDR Energy Sector ETF)

XLE broke down from the uptrend channel, rebounded and rejected at the 69.31 resistance. Short term XLE is bearish. Next support to watch is 64.74. This support is quite strong as it has been tested for 5 times.

USO (United States Oil Fund)

USO is still trading in a Symmetrical Triangle. Keep an eye on the next move when USO is trading closer to the apex of the triangle. Watch next Wednesday Sept 28 Crude Oil inventories report.

TLT (iShares 20+ Years Treasury Bond ETF)

TLT rebounded and currently testing support turned resistance at 137.51. If TLT is rejected as this level, it is a confirmation of trend reversal.

GLD (SPDR Gold Shares)

GLD rebounded from the support at about 125. This support has been tested 4 times previously. As the next FOMC statement only releases on Nov 1/2, there may be a potential for GLD to breakout from this rectangle consolidation to head towards 140.

Next Week Economic Calendar

Key events:

ECB President Draghi Speaks on Sept 26 Monday and Sept 28 Wednesday.
Fed Chair Yellen Testifies on Sept 28 Wednesday and Sept 29 Thursday.
China releases Manufacturing PMI on Sept 29 and Sept 30.

Weekly Inter Market Analysis Sept 18-2016

Post author:Marubozu
Post published:September 18, 2016

See previous week Weekly Inter Market Analysis.

Original post from https://mystocksinvesting.com

SPY (SPDR S&P500 ETF)

SPY rebounded from the resistance turned support zone. SPY is still trading in a Rising Wedge 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

VIX

VIX retraces after last week 40% spike but expect volatility in the coming week as FOMC releases statement on Sept 21.

Sector Performance (SPDR Sector ETF)

Best Sectors: Technology (XLK), Utility (XLU) and Healthcare (XLV)
Worst Sector: Energy (XLE), Financial Services (XLFS) and Financial (XLF)
Note: Defensive sectors outperforms aggressive sectors. XLK outperforms due to Apple (AAPL) which has very high weighting of 14.22%.

SUDX (S&P US Dollar Futures Index)

SUDX is currently trading within a Symmetrical Triangle and likely to be trading in a tight range until a breakout. Wait for Yellen’s speech on the interest rate hike confirmation.

FXE (Currency Shares Euro ETF)

FXE is curently trading sideway and range bound. Wait for Yellen’s speech on the interest rate hike confirmation before we can see the next big move.

fxe-sept-18-2016

XLE (SPDR Energy Sector ETF)

XLE broke down from the uptrend channel. Next support to watch is 64.74. This support is quite strong as it has been tested for 5 times.

USO (United States Oil Fund)

USO is currently trading in a Symmetrical Triangle. Keep an eye on the next move when USO is trading closer to the apex of the triangle. Watch next Wednesday Sept 21 Crude Oil inventories report.

uso-sept-18-2016

TLT (iShares 20+ Years Treasury Bond ETF)

TLT gapped down and broke the uptrend support. Next important resistance turned support at 132.49.

GLD (SPDR Gold Shares)

Gold is currently trading in a consolidation (Rectangle pattern) and still on uptrend. Currently GLD is just sitting on an important resistance turned support at about 125. This support has been tested 3 times previously. Can this support hold? If this support is broken, there will be a trend reversal as it is a Triple Tops chart pattern breakdown. gld-sept-18-2016

Next Week Economic Calendar

Key event:

Japan Monetary Policy & BOJ press conference on Sept 20 Tuesday and Sept 21 Wednesday
FOMC statement on Sept 21 Wednesday
Crude oil inventories on Sept 21 Wednesday

S&P 500 Earnings Dashboard | Sep. 27, 2016