May 17 Market Update | Technical, Fundamental, News
Description:
A simplified analysis for the week ahead.
Points of Interest:
Monday High; Tuesday Spike, Wednesday LVNode; Thursday Low; Friday Value; Composite Profile; Balance.
Technical:
There is no clear direction in the market. Nasdaq relatively strong. Russell, Dow, and NYSE are weaker.
On Monday, we made it into the $2950 zone of resting liquidity, prior to putting in a weak double top.
Tuesday left value behind, liquidating and closing on the lows, which pointed to a continuation lower.
Wednesday and Thursday accepted the spike and built a base above the $2760 resting liquidity.
Thursday and Friday’s up-action was weak, relative to the earlier selling, and left value overlapping, in balance.
With these past developments in mind, the market has been coming into balance over the past few weeks, digesting information, building value, shaking out weak hands. Aside from remaining in balance, the market could extend directionally, or extend and return to balance quickly. Taking out Thursday’s low of $2760.25, my immediate targets on the downside include $2730 and $2630. Upside targets include $2910 and $2950.
Scroll to bottom of document for non-profile charts.
Fundamental:
Key Events: Earnings; Housing Starts; Existing-Home Sales, Housing Market Index, FOMC Minutes; Initial Claims.
Detailed look at April job losses. bit.ly/2Z9XUUl
Georgia’s early reopen has not resulted in a surge of hospitalizations or death. bloom.bg/2WALzXQ
NYSE to reopen trading floor, dampen intraday volatility. on.wsj.com/2zH5zyU
Demand shock to take the upper hand over supply shock, depressing inflation pressures. bit.ly/36a94tN
May to join March and April as best months for investment-grade bond issuance. bit.ly/36a94tN
Telemedicine popularity means growth for prescription delivery. bit.ly/365p2FD
Money managers expect Trump to retake White House in November. bit.ly/3dRAG9F
Slump in aviation hit
GE harder than other suppliers. bloom.bg/3dStHNK
Canada to extend wage subsidies. reut.rs/3cDxkHp
High-growth companies target America’s heartland. bit.ly/36a8cW3
Puerto Rico’s economy to benefit if pharma returns. bit.ly/2Tsw8PB
High technology North America’s biggest corporate borrower. bit.ly/3bHXV4t
Auto sales are resilient despite coronavirus. bit.ly/2TsygXB
Low cost, laid-back lifestyle has tech flocking to Texas. bit.ly/3cH8eHm
FFCAU in talks over 6.8B state-guaranteed loan. reut.rs/2y9s6UL
UBER, GGRUB eye merger. bit.ly/2TeeoHn
Consumer confidence signals cognitive dissonance. bit.ly/2Lynevn
Fitch expects record downgrades in 2020. bit.ly/2X21uxf
More than one-third of the workforce was damaged by the crisis. bit.ly/3cCmcdC
Oil market pricing in tighter supplies due to production cuts, rising demand. reut.rs/3fXqNJq
Recovering oil demand could drive the market into deficit by July. reut.rs/2X79AVi
FDX CEO more optimistic than most on industrial rebound. bloom.bg/3dPrPFB
Full Saudi Arabian tankers steam towards the oversupplied United States. bloom.bg/3dTmqgQ
Though overall economic well-being improved, financial well-being widened. bit.ly/2zLtVHE
ABBV closes Allergan acquisition, increasing leverage. bit.ly/367DP2M
Columbia’s higher fiscal deficit limit points to fiscal deterioration. bit.ly/367DP2M
Sentiment: 23.3% Bullish, 26.1% Neutral, 50.6% Bearish as of 5/16/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Lower) 951, 835, 268 as of 5/16/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Higher) 48.4% as of 5/16/2020. bit.ly/2UpgtRE
Product Analysis:
ES:
SPX, 
SPY
NQ:
NDX, 
QQQ
RTY:
RUT, 
IWM
YM:
DJI, DIA
NYA:
NYA
GC:
GLD
CL:
USO, DBO, USL
NG:
UNG
ZB:
TLT
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
A simplified analysis for the week ahead.
Points of Interest:
Monday High; Tuesday Spike, Wednesday LVNode; Thursday Low; Friday Value; Composite Profile; Balance.
Technical:
There is no clear direction in the market. Nasdaq relatively strong. Russell, Dow, and NYSE are weaker.
On Monday, we made it into the $2950 zone of resting liquidity, prior to putting in a weak double top.
Tuesday left value behind, liquidating and closing on the lows, which pointed to a continuation lower.
Wednesday and Thursday accepted the spike and built a base above the $2760 resting liquidity.
Thursday and Friday’s up-action was weak, relative to the earlier selling, and left value overlapping, in balance.
With these past developments in mind, the market has been coming into balance over the past few weeks, digesting information, building value, shaking out weak hands. Aside from remaining in balance, the market could extend directionally, or extend and return to balance quickly. Taking out Thursday’s low of $2760.25, my immediate targets on the downside include $2730 and $2630. Upside targets include $2910 and $2950.
Scroll to bottom of document for non-profile charts.
Fundamental:
Key Events: Earnings; Housing Starts; Existing-Home Sales, Housing Market Index, FOMC Minutes; Initial Claims.
Detailed look at April job losses. bit.ly/2Z9XUUl
Georgia’s early reopen has not resulted in a surge of hospitalizations or death. bloom.bg/2WALzXQ
NYSE to reopen trading floor, dampen intraday volatility. on.wsj.com/2zH5zyU
Demand shock to take the upper hand over supply shock, depressing inflation pressures. bit.ly/36a94tN
May to join March and April as best months for investment-grade bond issuance. bit.ly/36a94tN
Telemedicine popularity means growth for prescription delivery. bit.ly/365p2FD
Money managers expect Trump to retake White House in November. bit.ly/3dRAG9F
Slump in aviation hit
GE harder than other suppliers. bloom.bg/3dStHNK Canada to extend wage subsidies. reut.rs/3cDxkHp
High-growth companies target America’s heartland. bit.ly/36a8cW3
Puerto Rico’s economy to benefit if pharma returns. bit.ly/2Tsw8PB
High technology North America’s biggest corporate borrower. bit.ly/3bHXV4t
Auto sales are resilient despite coronavirus. bit.ly/2TsygXB
Low cost, laid-back lifestyle has tech flocking to Texas. bit.ly/3cH8eHm
FFCAU in talks over 6.8B state-guaranteed loan. reut.rs/2y9s6UL
UBER, GGRUB eye merger. bit.ly/2TeeoHn Consumer confidence signals cognitive dissonance. bit.ly/2Lynevn
Fitch expects record downgrades in 2020. bit.ly/2X21uxf
More than one-third of the workforce was damaged by the crisis. bit.ly/3cCmcdC
Oil market pricing in tighter supplies due to production cuts, rising demand. reut.rs/3fXqNJq
Recovering oil demand could drive the market into deficit by July. reut.rs/2X79AVi
FDX CEO more optimistic than most on industrial rebound. bloom.bg/3dPrPFB Full Saudi Arabian tankers steam towards the oversupplied United States. bloom.bg/3dTmqgQ
Though overall economic well-being improved, financial well-being widened. bit.ly/2zLtVHE
ABBV closes Allergan acquisition, increasing leverage. bit.ly/367DP2M Columbia’s higher fiscal deficit limit points to fiscal deterioration. bit.ly/367DP2M
Sentiment: 23.3% Bullish, 26.1% Neutral, 50.6% Bearish as of 5/16/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Lower) 951, 835, 268 as of 5/16/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Higher) 48.4% as of 5/16/2020. bit.ly/2UpgtRE
Product Analysis:
ES:
SPX, SPY NQ:
NDX, QQQRTY:
RUT, IWMYM:
DJI, DIANYA:
NYAGC:
GLDCL:
USO, DBO, USLNG:
UNGZB:
TLTDisclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
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