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Us500analysis

SP500 LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on SP500 as price rejected an important are of ,, support,, bullish orderblock area on H4 + imbalance fill. Price made the expansion move and right now should go for a correction to fill the price inefficiences, another confluence that i see there is that VIX made a double bullish GAP that wasn't filled and price should go for it for today. VIX DOWN means STOCKS UP market correlation What do you think ? Comment below..
ULong
by AnonimFXRO
1
us500 long positionus500 still bullish What happened? H4 timeframe: - bearish setup complete - -27% , -61,8% and fib extension complete. Daily timeframe: - 120% Retest happened with bullish variation (always wait for h4 candle). price could go 4349.50 to test the weekly trendline as final touch - Price "seen" to push below market structure - Liquidity pushed price to get collect pending sell orders and stop out those who had long positions open - Tp @ -27% and -61,8% respectively.
ULong
by motheomabudusha
S&P500 Long and Short SetupS&P 500 Weekly Plan Long Setup: 🔵 Entry Level: $4598.0 🟢 Take Profit: $4645.3 (2.05 R) ⛔ Stop Loss: $4574.9 Short Setup: 🔵 Entry Level: $4651.8 🟢 Take Profit: $4599.4 (1.59 R) ⛔ Stop Loss: $4684.7 Reasons: 1) A clear setup would be opening a long position at what was recently resistance, as it is likely to be turned into support. However, this is too obvious of a setup and I believe a lot of traders will place buy orders there, so I believe there may be a fake-out. As such, I will be waiting for a retest of that level and if it holds, I will open a long order. I am mapping this level at the moment, so that I am prepared. 2) The short order is placed at the upper trend line of the ascending channel. It has already been respected 5 times, so I will keep opening short orders until it either fails (price goes through it) or we stop testing it. With that being said, the entry may move up depending on how the price reacts in the next couple of days
CAPITALCOM:US500Long
by Quant_
SPX finds floating ground for nowHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The S&P 500 index traded below its 50-day moving average, its first major breach in more than six months. The S&P 500 was able to find a floating ground after teetering developer China Evergrande said it would pay some bond interest due on Thursday. Removing fears of a big and messy collapse that had scared investors. The Index price has dropped 2.6% in the last couple of days but now the market seems to be stabilizing and an increase in value might start bringing the SPX back into the Ascending Channel range. Possible Scenarios for the market if the China situation was resolved : Scenario 1 : If the Bulls were able to gather the force need to gain control then we will see an increase in the market that would reach the 4452.57 resistance level where we might have a small correction that will bring the price near the 4405.15 level before the index goes back into the Ascending Channel range. Scenario 2 : After a drop like that it could take a bit of time for the Bulls to go in and push the market up, in that time we will see the price reach the first support level located at 4308.11 where most likely the buyers will go in, but if they failed to support that line then we might see a bigger drop reaching the 4258.49 or even the 4211.07 support before going back up. Technical analysis show : 1) The market is below the 5 10 20 50 MA and EMA (Bearish Short-Term Trend) But still above the 100 and 200 MA and EMA (Bullish Long-Term Trend) 2) The RSI is at 33.48 it hasn't reached the overbought zone yet and its showing Weakness in the market 3) The ADX is at 22.13 showing that the market is trending with a Negative crossover between DI+ (10.06) and DI- (34.68) Daily Support & Resistance points : support Resistance 1) 4308.11 1) 4405.15 2) 4258.49 2) 4452.57 3) 4211.07 3) 4502.19 Weekly Support & Resistance points : support Resistance 1) 4409.33 1) 4475.22 2) 4385.67 2) 4517.45 3) 4343.44 3) 4541.11 Fundamental point of view : Bloomberg reports that Hengda Real Estate - the main unit of troubled Chinese property developer Evergrande - will make its Thursday bond coupon payment. This hardly means Evergrande is out of the woods - indeed a restructuring at some point still remains likely - but a disorderly unwind seems off the table at the moment. Concerns over China Evergrande Group have put investors on edge and added to recent worries over economic growth from the Delta variant. Persistent default fears overshadowed efforts by Evergrande's chairman to boost confidence in the firm on Tuesday, while Beijing showed no signs it would intervene to stem any effects across the global economy. Investors are waiting for the end of this week's Fed meeting that may shed light on when its massive purchase of government debt will begin to ease. According to Reuters This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
SP:SPX
by GabiDahduh
US Market Technicals Ahead (20 September – 24 September 2021)This Wednesday’s Fed policy announcement will be the main directional driver for equity markets as investors will be expecting to hear if the central bank will begin withdrawing stimulus this year. Several policymakers have been calling for early tapering despite the recent slowdown in inflation numbers. On the economic data front, notable publications include building permits and housing starts, the flash Markit PMI survey, new and existing home sales. Several other central banks will also hold meetings in the week ahead, including the Bank of Japan and the Bank of England. Meanwhile, embattled Chinese property developer Evergrande (HK:3333) faces the prospect of defaulting on its debts, stoking fears of contagion that could spread to markets outside of China. Here’s what you need to know to start your week. S&P500 (US Market) With stocks struggling in this seasonally weak month for the market, all three major averages are negative month to date , but still sit less than 3% below their all-time highs. The benchmark index $SPX ended with week on consecutive losses, posting a further loss of -0.97% (-43.3 points). The Federal Reserve’s highly anticipated September meeting is set to occur this week. Fed Chair Jerome Powell will hold a press conference Wednesday at the conclusion of the two-day meeting. Investors are awaiting for more specifics about the Fed’s tapering of its easy monetary policy, particularly after mixed economic data released over the past weeks. $SPX breached its 20DMA and 50DMA support, currently trading at the support zone of its medium term trend channel. This is the 7th occurrence since 25th March 2021, where $SPX would rebound in the immediate week and swing towards another all time high. The immediate support to watch for $SPX this week is at 4,375 level; a significant 2ATR breakdown from its current up trend channel, a first sign of weakness in this mid-term rally. Federal Reserve meeting The Fed will begin its two-day policy meeting starting Tuesday ahead of its policy announcement on Wednesday afternoon and investors will be on the lookout for any details of the central bank’s plans to start paring back its $120 billion a month emergency stimulus program. The Fed’s timeline for scaling back economic stimulus is important as it represents a first step towards eventual interest rate hikes. Several Fed officials have said tapering should start this year, a view Fed Chair Jerome Powell may echo, while stressing a rate hike is still way off. The Fed may stick to a cautious approach giving economic uncertainty due to rising COVID-19 cases and a weak jobs report for August. Economic data The U.S. data calendar for the week ahead is centered around housing figures, which are set to stabilize after a slight uptick in mortgage approvals for home purchases in recent weeks. Data on housing starts and building permits data are due out on Tuesday, followed by figures on existing home sales on Wednesday and data on new home sales is due for release on Friday. Market watchers will also be looking at Thursday’s report on initial jobless claims amid concerns over the hit to the economic recovery in the current quarter from the spread of the Delta coronavirus variant, especially among people who are hesitant to take vaccines. Central bank meetings Besides the Fed, several other major global central banks are also holding meetings in the coming days. The Bank of Japan, which also meets on Tuesday and Wednesday, is widely expected to keep policy steady but may warn about growing risks to exports from supply disruptions. On Thursday, Norway’s central bank is set to become the first from the developed world to hike rates since the pandemic, likely raising its main 0% rate to 0.25%. The Bank of England is unlikely to change policy at its Thursday meeting but may indicate whether it still views inflation as transitory. Crunch time for Evergrande Indebted Chinese property developer Evergrande has a bond interest payment of $83.5 million due on Thursday, with investors pricing in a high likelihood of default. That such a tiny amount could be the tipping point for a $355 billion behemoth with more than 1,300 developments across China and over $300 billion of liabilities shows how bad things are. China’s second largest developer has been scrambling to raise cash, with fire sales on apartments and stake sales in its sprawling business network, but with little success. Concerns that Evergrande could default on its debts is spilling over into China’s financial markets and even risks contagion that could spread to markets beyond China.
ULong
by jfsrevg
1
US Market Technicals Ahead (13 September – 17 September 2021)It is a relatively busy week ahead in the US on the economic data front. This Tuesday’s U.S. inflation numbers could help dictate market direction in the coming week amid concerns that persistent rising inflation could prompt the Fed to roll back emergency stimulus measures. The timing of when central banks choose to scale back economic stimulus has been a key driver of market sentiment amid concerns over rising inflation. Elsewhere on economic data, US retail sales and industrial production numbers for August are seen pointing to a decline in domestic trade and modest factory activity growth. Numbers will be out on Thursday. The UK is also due to release what will be closely watched inflation data, along with updates on employment and retail sales. Appearances by European Central Bank officials may shed more light on last week’s decision to scale back bond purchases. Meanwhile, data from China is likely to underline that the pace of the recovery in the world’s number two economy is slowing. Here’s what you need to know to start your week. S&P500 (US Market) The benchmark index $SPX ended the week off its longest daily losing streak since February (-1.58%), posting five straight days of losses. Fears over slowing economic growth and rising inflation have weighed on the market. $SPX medium term trend channel remains intact, with no violation of its upper and lower bound trendline since the Bullish Reversal supported by its 50DMA highlighted in the earlier weeks. $SPX is now trading below its 20DMA after the failure of its Bullish Pennant consolidation, spiraling down towards its 50DMA that has pivoted the index since November 2020. The immediate support to watch for $SPX this week is at 4,425 level; a break down of 50DMA along with its short term support level. U.S. inflation Tuesday’s data on consumer price inflation will be the highlight of the economic calendar amid an ongoing debate over whether the current spike in inflation is likely to fade as the imbalance between supply and demand causing price increases in recent months eventually eases. In July, price increases slowed but remained at a 13-year high on a yearly basis amid tentative signs inflation has peaked. Market watchers will also be looking at Thursday’s figures on retail sales, which are expected to decline for a second straight month. UK data Last week Bank of England governor Andrew Bailey warned that the economic rebound in the UK is slowing, so this week’s data on inflation, employment and retail sales will be closely watched, particularly ahead of the Bank of England’s upcoming policy meeting on Sept 23. July data showed that inflation slowed to 2%, while retail sales fell 2.5% month-on-month. Tuesday's jobs data will also be in focus amid labor shortages and a record 8.8% increase in wage growth in June. The end of furlough schemes may push people into the jobs market, but skills shortages risk fueling price pressures driven by supply bottlenecks and commodity prices. ECB speakers In the euro zone, ECB Chief Economist Philip Lane and Bank of Finland Governor Olli Rehn are both due to make appearances, with investors hoping for more insights into last week’s decision to pare back emergency bond purchases over the coming quarter. The move is a small first step towards unwinding the emergency stimulus the ECB deployed to bolster the euro zone economy during the coronavirus pandemic. ECB President Christine Lagarde was eager to stress that the move wasn’t the start of tapering. The move by the ECB to trim bond purchases is expected to be followed by the Fed later this year, despite the disappointing August U.S. jobs report. China data China is to release data on industrial production, retail sales and fixed asset investment on Wednesday, which will show the economic impact of a widespread Covid outbreak in August, which saw Beijing partially close the world’s third-busiest container port and impose fresh restrictions across some areas of the country. While the latest outbreaks have been largely contained the Chinese economy is still facing headwinds. While exports have remained strong, boosted by robust global demand domestic demand has faltered amid virus containment measures, supply bottlenecks, tighter measures to tame property prices and a campaign to reduce carbon emissions.
ULong
by jfsrevg
US Market Technicals Ahead (26 July – 30 July 2021)The earnings season is gathering pace as it enters into the busiest phase this week. Investors will be closely watching earnings from tech heavyweights with Apple ($APPL), Facebook ($FB), Microsoft ($MSFT), Alphabet ($GOOGL) and Amazon ($AMZN) are reporting quarterly results. US Federal Reserve will also be meeting this week, and more details will likely emerge on the tapering discussions that started in June. On the economic data front, the US is releasing the first estimate of Q2 GDP which is expected to be the peak of the post-pandemic recovery. Other data includes durable goods orders, and personal income and outlays. Here is what you need to know to start your week. S&P500 (US Market) All three of the major averages finished at record closing highs last week after the markets tumbled at the start of the week on concerns about the spread of the delta variant of Covid and how it would potentially hinder the economic recovery. The uncertainty briefly sent bond yields lower, and investors jumped into tech stocks. Both bonds and equities rebounded quickly by the end of the week. The benchmark index $SPX rallied +1.84% (+79.5 points), including an intraweek move of +4.18% from its week low during the week. $SPX is currently back trading above its multi-month long trend channel that was earlier highlighted. Every break out of $SPX trend channel resistance has been met with a rejection (6 times since 2021). The immediate support to watch for $SPX this week remains at 4,285 level; the 20DMA short term support level. Fed taper talk The Fed wraps up its two-day meeting on Wednesday and its statement will be scrutinized for any mention of the timeframe for tapering its asset purchase program, although Chairman Jerome Powell made it clear in his recent testimony to Congress that the U.S. economy still needs the central bank’s full support. In June, policymakers began debating when to start cutting monthly purchases of $120 billion of Treasuries and mortgage-backed securities. Powell may indicate that while a discussion on tapering has started, there is still time before officials reach a conclusion on what they will do. Policymakers are expected to highlight the risk from the rapidly spreading Delta variant, which investors worry could derail the economic recovery. Most analysts expect the Fed to give a clearer indication of its plans for scaling back its quantitative easing program at its annual conference in Jackson Hole, Wyoming, in late August, before a formal announcement on tapering later in the year. Data dump Aside from the Fed meeting, investors will get an update on the strength of the U.S. economy with an end-of-month data dump. Monday sees figures on new home sales, which are expected to hit new highs, followed by durable goods orders and consumer confidence on Tuesday. The highlight is on Thursday with a first look at second quarter GDP and while expectations have been trimmed back in recent weeks, growth is still expected to be strong at 8.6% annualized. This would mark the recovery of all the lost output caused by the pandemic and could be the peak of the post-pandemic recovery. Figures on personal income and spending are due Friday, which include the Fed’s rumored favorite measure of inflation – the core personal consumer expenditure price index. Earnings deluge U.S. earnings are kicking into high gear and investors will be watching the largest tech names to gauge whether a recent shift away from reflation trade and into growth stocks that led markets for the last decade will continue. Earnings from Apple ($AAPL) and Alphabet ($GOOGL) on Tuesday, Facebook ($FB) on Wednesday and Amazon ($AMZN) on Thursday could accelerate a shift back into growth. FAANG stocks – Facebook, Amazon, Apple, Netflix ($NFLX), and Google parent Alphabet – are usually known for delivering stellar stock market returns. But only Facebook and Alphabet have beaten the S&P 500 so far this year as investors piled into financials, energy firms and other companies that should benefit from the post pandemic economic rebound.
U
by jfsrevg
US Market Technicals Ahead (17 May – 21 May 2021)Focus this week for investors will be on the minutes from the last Federal Reserve's last policy meeting that are due on Wednesday. There will be hopes that they might provide some clarity on policymakers' next moves. Last month, the Federal Reserve left monetary policy unchanged, despite acknowledging a "temporary" rise in inflation and an improvement in the economic outlook. Additionally, with a strong U.S. Q1 reporting season winds up; retailers are getting started - Walmart ($WMT), Target ($TGT), Home Depot ($HD), Lowe's ($LOW), L Brands ($LB) and Ralph Lauren ($RL) release results this week. The numbers will show how consumer spending is shaping up as the economy rebounds from the coronavirus. And after U.S. consumer prices rose by the most in nearly 12 years in April, investors will want to see whether price pressures are building for companies. Also, the CDC said fully vaccinated people can stop wearing face masks and end physical distancing in most settings. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) erased all gains for the month of May, losing -1.31% (-55.4 points), with trading floors awashed with red after a higher-than-expected reading on US inflation fuelled bets of potential tapering of the Federal Reserve’s bond-buying before year’s end.  $SPX is currently trading below its 20DMA, along with an failure attempt to break its minor classical support level of 4,110 highlighted last week. It is also worth to note that $SPX ATR-14 have rebounded from its year low level of 40 points/day, with a 20% increment towards 50 points/day during the week. Trading volume resumption back to its normalcy is also witnessed on 13th May, the day of the rebound.  The immediate support to watch for $SPX remains at 4,110 level, a minor support turned major support level, coinciding with its 50DMA.
ULong
by jfsrevg
US Market Technicals Ahead (10 May – 14 May 2021)It is a relatively busy week ahead in the US on the economic data front, as investors will turn their attention to U.S. inflation figures in the coming week after Friday’s surprisingly disappointing April jobs report. Signs of rising inflation pressures could reignite the debate over how soon the Federal Reserve may begin to tighten monetary policy. Energy traders will be monitoring the shutdown of the largest U.S. fuel pipeline leading to an increase in gasoline and oil prices.. The tug of war between value and growth will likely continue in the equities market as earnings season winds down. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) traded higher with a gain +1.08% (+45.2 points), recovering most of the week losses with a single Friday session as disappointing payroll report eased worries about Federal Reserve reducing its support anytime soon. $SPX is currently at all time high of 4,236 level. $SPX daily price action have successfully broke out of its consolidation highlighted, with implied volatility remains stabilized from its low of 40 points/day that was highlighted last week. The immediate support to watch for $SPX remains at 4,110 level, a minor classical support level turned trend channel support. Inflation fears Wednesday’s consumer price index figures for April get top billing on the U.S. economic calendar this week amid concerns among investors that rising price pressures could prompt the Fed to start scaling back monetary support measures sooner. While inflation is on the rise, Fed policymakers have repeatedly said the increase is due to temporary factors. The inflation numbers are coming in the wake of data on Friday showing U.S. job growth slowed sharply last month, with the economy adding just 266,000 jobs, far short of forecasts for 978,000. The unexpectedly weak data raised doubts over the expectations of some investors that the Fed could start tapering stimulus measures later this year. Pipeline shutdown Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network, without saying when it would reopen, after a cyber-attack involving ransomware on Friday. Colonial is the main source of gasoline for the East Coast and also serves some of the largest U.S. airports. The incident has highlighted how vulnerable U.S. energy infrastructure is to hackers. A prolonged outage of the network could trigger price increases at gasoline pumps ahead of peak summer driving season, a potential blow to U.S. consumers and the economy as pandemic restrictions are eased. The outage could also potentially affect oil refineries on the Gulf Coast if refiners are forced to reduce crude processing because part of the distribution system is offline. Stocks tug of war While some tech stocks got a boost Friday in the wake of the disappointing jobs report, some portfolio managers say that blow-out earnings from several large tech companies over the last few weeks are not enough to keep making outsized bets on the sector. Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks - whose fortunes are closely tied to economic conditions - in anticipation that the economic recovery will be longer and more gradual than originally anticipated. That trend looks set to continue and investors will also be looking at quarterly results from companies such as Disney ($DIS), Marriott ($MAR), Airbnb ($ABNB) and Tyson Foods ($:TSN), as a first-quarter earnings season which has been notable for far higher-than-expected profits winds down.
ULong
by jfsrevg
SPX500: Will price finally DROP harder?Hey tradomaniacs, It is getting a little bit tricky now for the stockmarket with the so called "stagflation" showing higher prices for assets and consumer goods (inflation) while the economy stagnates. 👉 An example is the yesterdays weak U.S ISM Index while prices generally rise (Wood,Wheat,Coffee,Gas etc.)❗️ So the question is: How can the central banks continue with an ongoing inflation in order to support the economy to stop the stagnation? Is more stimulus possible even though prices seem to explode? Or is the bubble ready to pop soon and we see a correction and a strong US-Dollar? The mood is overall upbeat in terms of corona as the investment rate in the USA is really high indicated by a margin-debts but the U.S.-Stockmarket is overall not really moving upwards anymore, which could be a typical "buy the rumor sell the fact" scenario. Also keep in mind that many private-investors are currently invested providing a great opportunity for biggies to take profits / distribute volume. Is the best of all possible worlds price in? However, I will be very cautious right now and watch the market carefully and focus in short-term-opportunities. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
OANDA:SPX500USD
by Trading2ez
1
US Market Technicals Ahead (19 Apr – 23 Apr 2021)Investors will look for further confirmation of the private sector’s recovery from the pandemic as the earnings season gathers pace, with dozens of companies from a wide range of industries will report quarterly results this week. So far with one week in, companies are beating earnings estimates by a wide margin of more than 84%, according to Refinitiv. Meanwhile, U.S. economic data will remain in focus as investors watch for further signals on the strength of the economy, with the latest reports on home sales and manufacturing activity topping the agenda. Elsewhere, in Europe, markets are keeping an eye on the European Central Bank’s monetary policy meeting for further guidance on interest rates and stimulus. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) increased 1.41% (+58.3 points) to another record close, extending its weekly rally into its 4th consecutive session. The newly established all time high is now at 4,191 level for $SPX. US 10-year rates extended 5-week lows of 1.566%, despite strong inflation and employment data last week. In addition, housing starts rose to the highest level since 2006 last week, pointing to a strong rebound in both consumer spending and the jobs market. The previously highlighted Bearish Divergence of $SPX remains valid, as sessional volume remains below its 50 days average range for the past week without any committed buying pressure reflected in this rally. A price retracement upon a eutrophic rally beyond the structure of a technical trend channel is always imminent on such scenario. However, the hypothesis of a short term correction for $SPX would remain healthy and strong for the bullish sentiment of the index. The immediate support to watch for $SPX is now at 4,060 level, a break of the two weeks low. Earnings Step Up into High Gear There are about 80 S&P 500 companies reporting earnings in the week ahead, including 10 Dow stocks, in what will be the first big week of the first quarter earnings season. In addition, this week’s earnings calendar also includes high-profile names like Coca-Cola ($KO), Johnson & Johnson) ($NJ), Procter & Gamble ($PG), Intel ($INTC), and IBM ($IBM), Snap ($SNAP), AT&T ($T), Verizon ($VZ), Lockheed Martin ($LMT), Halliburton ($HAL), Honeywell ($HON), and American Express ($AXP) Most of the focus will be on Netflix ($NFLX), which is due to report its latest financial results after the closing bell on Tuesday. The streaming giant is forecast to report adjusted earnings per share (EPS) of $2.97 on revenue of $7.14 billion, according to estimates. NFLX shares hit a record high on Jan. 20, right after Q4 results, but has since slipped back. Options markets are pricing in a post-earnings move of 7% in the stock. Earnings from battered airlines American Airlines ($AAL), United Airlines ($UAL), and Southwest Airlines ($:LUV) are also on the docket. Flash U.S. PMIs IHS Markit’s composite flash U.S. Purchasing Managers’ Index (PMI) for April is due on Friday, amid expectations for an increase to 59.9 from a reading of 59.7 in March The index, which measures the combined output of both the manufacturing and service sectors, is seen as a good guide to overall economic health. In addition, this week’s rather light economic calendar also features the latest data on initial jobless claims, which fell to a new pre-pandemic low last week. European Central Bank Policy Meeting The European Central Bank is all but certain to keep interest rates at their current record low levels at the conclusion of its monetary policy meeting on Thursday. President Christine Lagarde will hold a closely watched press conference 45 minutes after the rate announcement as investors seek further clues on central bank’s future pace of bond purchases. The ECB has boosted its bond buying program to prevent a rise in borrowing costs from derailing the region’s economy, however recent signs of a swift recovery could raise questions over when it will start to withdraw support.
ULong
by jfsrevg
US Market Technicals Ahead (12 Apr – 16 Apr 2021)Price volatility is expected to pick up this week. First-quarter earnings season gets underway with updates expected from major banks such as JPMorgan Chase ($JPM), Citigroup ($C) and Wells Fargo ($WFC). While results are expected to be fairly strong, most will be watching to see what companies say about the outlook for the current quarter and the rest of the year, given expectations for faster economic growth. On the economic data front, U.S. consumer price inflation (Tuesday) and retail sales (Thursday) will be the biggest data points of the week. Global financial markets will also pay close attention to comments from a Fed Chair Jerome Powell at the Economic Club of Washington on Wednesday, for additional insight into the outlook for monetary policy in the months ahead. Elsewhere, in Asia, China will become the first major economy to report first-quarter growth data when it publishes highly anticipated GDP numbers. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) furthered its ascend with a gain of +2.12% (+85.5 points) for the week, establishing an all time high closing of 4,122 level. This was aligned with our weekly market analysis highlighted last week. It is important to note that the past week of daily incremental price action on $SPX has reflected a clear Bearish Divergence with its transactional volume. A price retracement upon a eutrophic rally beyond the structure of a technical trend channel is always imminent on such scenario. However, the hypothesis of a short term correction for $SPX would remain healthy and strong for the bullish sentiment of the index. With price volatility expected to pick up this week due to the series of major economic events, the immediate support to watch for $SPX is at 4,030 level, a trendline resistance turned support level. U.S. 1Q Earnings Season Kicks Off The first quarter earnings season on Wall Street will kick off in the coming week, with banking giants JPMorgan Chase ($JPM), Goldman Sachs ($GS), and Wells Fargo ($WFC) all set to release their latest quarterly results on Wednesday. Earnings from Bank of America ($BAC), Citigroup ($C), and Blackrock ($BLK) are then due on Thursday, followed by Morgan Stanley ($MS) on Friday. Overall, Q1 earnings are expected to have jumped nearly 25% year-over-year, according to Refinitiv. That would be the biggest quarterly gain since 3Q 2018, when tax cuts under former President Donald Trump drove a surge in profit growth. Financials are expected to show one of the biggest earnings gains, up 75.6% year-on-year, while materials are seen up 45.4%. U.S. Consumer Price Inflation (CPI) CPI is expected to have risen 0.5% last month and 2.5% over the prior year, according to estimates. If confirmed, it would mark the fastest increase in eight months. Excluding the cost of food and fuel, core inflation is projected to climb 0.2% from a month earlier and 1.6% on a year-over-year basis, a tad faster than the 1.3% increase registered in February. Rising inflation expectations helped spark a first-quarter selloff in Treasuries that drove yields to pre-pandemic highs in recent sessions. U.S. Retail Sales The consensus forecast is that the report will show retail sales jumped 5.5%, rebounding from February’s steep decline of 3%, which was the biggest drop since April 2020. Excluding the automobile sector, sales are expected to rise 4.8%, snapping back from a drop of 2.7% in the preceding month. Fed Speakers A number of Fed speeches will get market attention in the week ahead, as traders watch for further clues on interest rates. Topping the agenda will be remarks from Fed Chair Jerome Powell who will be speaking on Wednesday at an Economic Club of Washington event. The Fed chair has reiterated lately that any emergence of inflation should be temporary and that the central bank will keep its accommodative policies in place for a long time. China 1Q Gross Domestic Product (GDP) China will post its first quarter gross domestic product (GDP) on Friday morning. The data is expected to show the world’s second-largest economy grew 18.8% in the first three months of 2021 when compared to the year-ago period, accelerating from the previous quarter’s 6.5% pace. Besides the GDP report, the Asian nation will also publish data on March trade balance, industrial production, retail sales, unemployment, and fixed asset investment. China’s economy has shown signs of improvement in recent months, with activity rebounding to pre-pandemic levels thanks to a resurgence in global manufacturing and a sharp recovery in domestic spending.
UShort
by jfsrevg
1