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stock market review
Happy Sunday to you! Markets finally broke out of Augusts ~5% consolidation between 2,800 and 2,945 (S&P 500 futures) to the upside closing the week at 2,983 thanks to positive trade hype that US-China trade talks are now going well again, and with the possibility of both countries continuing negations later on this month.
I hope you have been well, and enjoyed the long holiday weekend with your friends and family. This week I’m back with my stock market reviews as volatility looks to continue in the market thanks to the US-China ongoing trade war, President Trump’s tweets about the US-China Trade War and stance on Fed Chair Powell’s monetary policy, fresh new economic data and if the Federal Reserve is to cut interest rates.
Man did a lot happen last week in the stock market albeit nothing positive for equities between UK's Prime Minister May resigning, US-China trade tensions growing stronger on Trump's call to ban all connections with the Chinese company Huawei, and crude oil selling off over 6%.
The equity market is continuing to grind higher thanks to strong Q1 GDP numbers (3.2% actual where forecast was 2.2%) and strong earnings reports from major tech companies like Facebook, Amazon, Microsoft and even Twitter.
Happy Easter! Enjoy this blessed day with your family and friends. I haven't started to search for any eggs that the Easter bunny most likely is hiding around my house. But plan on doing so right after I share this breakdown on what to watch for this week in the stock market.
Let's review the markets and plan ahead to continue crushing the month of April while everyone is out enjoying their Sunday Funday at the bars :). I’m going to take a look at /ES, /NQ, /YM, /RTY, /GC, /CL, $DXY, AAPL, BA, DIS, JPM and SQ.
Let's review the markets and plan ahead to continue crushing the month of April while everyone is out enjoying their Sunday Funday at the bars :). I’m going to take a look at /ES, /NQ, /YM, /RTY, /GC, /CL, $DXY, AAPL, BA, DIS, JPM and SQ.
Good afternoon and happy Sunday Funday to everyone! This will be the first of many stock market reviews on my blog so I can keep you all informed each week on what is happening with the markets.
This past week was mostly a consolidation week with a little bit of selling due to the Turkish Lira taking a plunge. This same scenario happened in late 2018 causing the markets to sell a bit more violent. However the dip was bought both times. 2800 on /ES acted as strong daily support with Friday rallying into the close.
Tomorrow is April 1st so let’s start off this new month in spectacular fashion!
