With Oil Keep Looking at Trade Data and Newsby Stephen Pope WTI boosted by two clear driving forces trade and supply Any recovery in trade relations between the U.S. and China not until end of… [Read More...]
SPY Chart – 1 Year
The chart below shows the daily prices for SPY, an S&P 500 ETF, after closing the week at $294.35 on October 4, 2019. SPY has traded in a defined trading channel for the past year, except for the brief and harsh correction that hit stocks last December. Once stocks recovered from the panic selling, the large-cap index remained in a tight range for the next eight months and appears to have fought off the most recent attempt to push it below its trend line of higher lows. This trend line of higher lows closely follows SPY’s 200-day moving average, which aided in offering support for falling prices. After finding support and bouncing off the intraday low on Thursday morning, SPY charged past its 50 and 100-day moving averages … [Read More...]
Squawk: Equities march higher into earning season Continuing positive US economic…
Equities march higher into earning season Continuing positive US economic data into April was assisted on Friday as the US earnings season kicked off in earnest with the financial sector starting… [Read More...]
Squawk: Euro Technical Update and trading opportunity:: Eurusd currently trading at…
Euro Technical Update and trading opportunity:: Eurusd currently trading at 1.1370 with a day low at 1.1356 which the day could limit at 1.1340-50 downside. As shown in the chart we have had observed… [Read More...]
Squawk: US equities surge back higher A surge back higher for…
US equities surge back higher A surge back higher for the major US equity averages on Thursday with the S&P 500 and Nasdaq 100 hitting new 2019 peaks and five-month highs. This price action has… [Read More...]
Today’s Trade: Stock claw back early losses
The ASX 200 fell as soon as it opened pulled down by US trade fears but over the next hour seems to have cloawed some of those losses back. [Read More...]
Today’s Trade: Asia shares mixed despite above-target China GDP
Bourses across Asia put in a mixed performance Tuesday even though China’s Q1 GDP print came in at a bouncy 6.8% above the government’s 6.5% forecast. [Read More...]
Squawk: Elliott wave Analysis: GBPUSD and Crude oil Intraday View by…
Elliott wave Analysis: GBPUSD and Crude oil Intraday View by Gregor Horvat GBPUSD made a five-wave rally from the 1.240 level and ended it with an EW ending diagonal at the 1.28 level. Current… [Read More...]
Squawk: European and US index futures surge to new 2019 highs…
European and US index futures surge to new 2019 highs On Monday we looked at the re-energizing bull themes for the S&P 500 and the German flagship index the DAX. This bullish tone has been… [Read More...]
Options Expiration – September 2019
I had a busier options expiration Friday yesterday than I’ve had in a long time. I had four options make it all the way to expiration and all four went in my favor. Two gave me a full profit and two gave me a partial profit. I’ve been rolling a lot of my options before expiration over the past year, but short-term volatility is so high right now, I would’ve left a lot of time value on the table if I had rolled early, even as late as Thursday afternoon. My first trade was the easiest. I had one IWM September $158 covered call that was far enough out of the money that I was fairly certain it wouldn’t be assigned, so … [Read More...]