(Ming Jong Tey – Independent Analyst)
The market breadth thrust indicator have hit the critical overbought level at 90. Is the current rally a bull run or a bear rally that you need to watch out for?
Click and watch the video below to find out where the market is heading and how can we combine the seasonality chart of the mid term election to anticipate the market direction.
The bullish setup vs. the bearish setup is 388 to 27 from the screenshot of my stock screener below. There are more bullish setups showing up, which is an encouraging sign of a healthy rally.
S&P 500 broke out of the resistance zone 4100–4200 as anticipated because of the tell-tale signs as explained last week. The next resistance level at 4300–4400 is where we could anticipate a pullback to happen. Watch out for the first critical support level S&P 500 needs to hold as shown in the video if there is any pullback.
UK CPI preview [Video]
(Anthony Cheung – Amplify)
– Overview of main headlines in play (00:00).
– S&P closes above key technical area (00:55).
– China cuts rates as the economic slowdown continues (3:37).
– Oil extends losses on China outlook and Iran supply (5:01).
– UK CPI preview (6:46).
– US Retail Sales preview (8:16).
– FOMC minutes preview (8:47).
– German economic pressures worsen (9:22).
– Australian and Japanese data and RNBZ rate decision (10:54).
– 13F filings and US retailers release earnings (11:46).
– China’s Xi to meet Saudi Bin Salman this week (12:29).
Read Gold Price Forecast: The bright metal is losing its shine sub-$1,800
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