Weekly Inter Market Analysis Nov 6-2016

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See previous week Weekly Inter Market Analysis.

Original post from https://mystocksinvesting.com

SPY (SPDR S&P500 ETF)

SPY has broken the resistance turned support zone. Currently SPY is testing the 200D SMA support. Keep an eye this coming week (also the US Presidential Election week) to see whether this 200D SMA support hold.

  • Resistance turned support zone: 211-213 Broken
  • Rising Wedge immediate support: about 210 Broken
  • 200D SMA support: about 208.5 Testing
  • Previous Head and Shoulders neckline support: about 204.

spy-nov-6-2016

VIX

VIX spiked to 22.5 when getting nearer to US Presidential Election day. Stock market is expected to sell down if Donald Trump wins.

vix-nov-6-2016

 

Sector Performance (SPDR Sector ETF)

  • Best Sectors: None
  • Worst Sector: Technology (XLK)  -2.66%

sector-performance-nov-6-2016

SUDX (S&P US Dollar Futures Index)

SUDX is currently retracing back to the support around 127-128. If SUDX rebounds from this support zone, this breakout of symmetrical triangle is valid for SUDX to start a confirm uptrend.

sudx-nov-6-2016

FXE (Currency Shares Euro ETF)

FXE rebounded from the critical support (red zone) and is currently testing the previous wedge support turned resistance.

fxe-nov-6-2016

 

XLE (SPDR Energy Sector ETF)

XLE is currently testing the up trend channel support. Keep an eye on the current support and 200D SMA support.  Coincidentally USO is also trading the support level.

xle-nov-6-2016

 

USO (United States Oil Fund)

USO is currently testing the critical horizontal support and also the symmetrical triangle support. A pause of the recent sell down for USO after forming a long legged doji candlestick pattern. Wait for bullish candle for reversal confirmation rebound from this support level.

uso-nov-6-2016

 

TLT (iShares 20+ Years Treasury Bond ETF)

TLT is currently trading below 200D SMA and forming a Falling Wedge. Technically TLT is trading in a bearish down trend. This means there is a sell off in Treasury Bond. Something for the investors to pay special attention to because it is not normal for both Treasury Bill and Equity sell off together.

tlt-nov-6-2016

 

GLD (SPDR Gold Shares)

GLD rebounded from the 200D SMA support but is currently facing the previous support turned resistance at about 125. GLD has to clear this 125 resistance in order to continue the long term new up trend.

gld-nov-6-2016

 

Next Week Economic Calendar

Key events:

  • US Presidential Election Nov 9 (Wednesday)
  • Crude Oil Inventory on Nov 10 (Wednesday)
  • US Unemployment Claim  on Nov 10 (Thursday)

economic-calendar-nov-6-nov-12-2016

 

See other Events here. https://mystocksinvesting.com/events/

 

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