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Stocks & Equities

Stock Trading Alert: New Rally Or More Medium-Term Fluctuations?

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Posted by Paul Rejczak - Sunshine Profits

on Monday, 24 April 2017 06:44

Sent to subscribers on April 24, 2017, 6:57 AM.

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

The main U.S. stock market indexes were mixed between -0.3% and 0.0% on Friday, extending their short-term consolidation, as investors awaited quarterly corporate earnings, economic data releases, French presidential election outcome, among others. The S&P 500 index remained within its week-long consolidation along the level of 2,350, around 2% below the March 1 all-time high of 2,400.98. The Dow Jones Industrial Average closed below the level of 20,600 again, and relatively stronger technology Nasdaq Composite index remained above 5,900 mark, as it continued to trade close to its early April record high. The nearest important level of support of the S&P 500 index is now at around 2,350, marked by previous resistance level. The next support level is at 2,320-2,330, marked by previous short-term consolidation. The support level is also at around 2,270-2,280. On the other hand, the nearest important level of resistance is at 2,365-2,370, marked by some previous local highs. The next resistance level is at 2,380-2,400, marked by record high, among others. We can see some short-term volatility following five-month-long rally off last year's November low at around 2,100. Is this a topping pattern before medium-term downward reversal? The uptrend accelerated on March 1 and it looked like a blow-off top pattern accompanied by some buying frenzy. The S&P 500 index is trading below its medium-term upward trend line, as we can see on the daily chart:

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Expectations before the opening of today's trading session are very positive, with index futures currently up 1.0-1.2%. The European stock markets have gained 1.8-4.5% so far. Investors will now wait for more quarterly corporate earnings releases. The S&P 500 futures contract trades within an intraday uptrend following an overnight gap-up opening. The nearest important level of support is at around 2,365, marked by local low. The next support level is at 2,350-2,355, marked by recent consolidation. On the other hand, the nearest important level of resistance is at around 2,375, marked by recent local high. The next resistance level remains at 2,380-2,400, marked by March topping consolidation, and an all-time high slightly above 2,400 mark. Will the market break above almost two-month long consolidation? Or is this just another upward correction? We can see some medium-term negative technical divergences, but will they lead to a downward correction?



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Stocks & Equities

Chart of the Day - No Such Thing as a Quadruple Top

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Posted by Gary Savage - Smartmoneytracker

on Friday, 21 April 2017 07:08

When a resistance zone gets tested multiple times it usually breaks. It shouldn’t be long before the Nasdaq breaks through this resistance. After it does it will pull the rest of the market up with it.

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https://blog.smartmoneytrackerpremium.com/

...related:

What Just Took Place In Stocks Has Rarely Happened In The Past 117 Years



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Stocks & Equities

Stock Trading Alert: S&P 500 Broke Below Recent Lows, New Downtrend Or Just Correction?

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Posted by Paul Rejczak - Sunshine Profits

on Monday, 17 April 2017 07:14

Stock Trading Alert originally sent to subscribers on April 17, 2017, 6:56 AM.

Briefly: In our opinion, speculative short positions are favored (with stop-loss at 2,410, and profit target at 2,200, S&P 500 index).

Our intraday outlook is bearish, and our short-term outlook is bearish. Our medium-term outlook remains neutral, following S&P 500 index breakout above last year's all-time high:

Intraday outlook (next 24 hours): bearish
Short-term outlook (next 1-2 weeks): bearish
Medium-term outlook (next 1-3 months): neutral
Long-term outlook (next year): neutral

The U.S. stock market indexes lost between 0.4% and 0.7% on Friday, extending their short-term downtrend, as investors reacted to economic data releases, global politics news. The S&P 500 index got close to its late March local low above 2,320 mark. It is now around 3% below its March 1 all-time high of 2,400.98. Is this a new downtrend or just relatively shallow downward correction before another medium-term leg up? The Dow Jones Industrial Average closed below the level of 20,500, and the relatively stronger technology Nasdaq Composite index closed at around 5,800 mark, following its last April 17 move to new record high. The nearest important level of support of the S&P 500 index is at around 2,300-2,320, marked by previous short-term consolidation, among others. The next support level is at 2,270-2,280. The support level is also at around 2,250. On the other hand, the nearest important level of resistance is now at 2,350, marked by some recent local highs. The next resistance level is at 2,370-2,380, marked by the early April local highs. The resistance level is at also at around 2,400, marked by record high. We can see some short-term volatility following five-month-long rally off last year's November low at around 2,100. Is this a topping pattern before medium-term downward reversal? The uptrend accelerated on March 1 and it looked like a blow-off top pattern accompanied by some buying frenzy. The S&P 500 index is currently trading below its medium-term upward trend line, as we can see on the daily chart:

1



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Stocks & Equities

Economy Contracting but Expect Higher Stock Prices

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Posted by Chris Vermeulen - The Gold & Oil Report

on Thursday, 13 April 2017 10:24

The United States is the world's largest and most diversified economy! It is currently suffering through a protracted period of slow growth which has held down job creation and labor market participation. The Pew Research Center reported, in late 2015, that a mere 19% of Americans trust the government either always or most of the time.

The FED must print more money in order to keep the party going forward.

The bottom line is that this current bull market has been driven mostly by corporations which are buying back their shares, over the years. Individual investors have increasingly been moving out of equity mutual funds and into equity ETF's.

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Buying Opportunities Dead Ahead for Stocks!

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Posted by Mike Burnick via The Edelson Wavee

on Tuesday, 11 April 2017 06:34

A struggling global economy plus shaky governments around the world are triggering a massive flow of capital toward the best available opportunities.

Debt crises in Europe and Japan are driving capital flight out of bond markets in search of better investments.

And at the top of their list? You guessed it: U.S. stocks!

That’s why I’m not one bit surprised that over the past eight years, the Dow Jones Industrial Average has gone up a staggering 227%.

After all, capital is agnostic. It doesn’t care that governments are bankrupt or that their economies are struggling or that their currencies are deflating.

The thing is, regardless of world conditions, there are always people and companies that have enormous amounts of capital to invest. And capital always seeks the safest, best returns possible, no matter where they are in the world.

Larry Edelson accurately predicted this capital flight – away from the public sector (government bonds) into the private sector (stocks) – many years ago. He correctly explained that stocks represent assets that can outlast governments.

In fact, this is exactly what happened during the Great Depression – when the Dow rallied 372% from 1932 to 1937.

And it’s these powerful and undeniable global forces that are driving the bull market in U.S. stocks and will lift the Dow to 31,000.

That’s not a typo: 31,000 on the Dow.

But not without an occasional market correction.

In the long history of capital markets, nothing ever moves in a straight line either up or down – there are always minor corrections against the prevailing trends.

And fair warning, I see this dynamic setting up in U.S. stocks going into mid-year.

In the short-term – days and weeks ahead – the Dow Jones and S&P 500 Indexes could grind marginally higher on the back of strong first-quarter earnings season, but it won’t last.

While estimates have come down, the market is looking for first-quarter earnings growth of nearly 10 percent from the year-ago period – that’s a very tall order. And investors could be disappointed with actual results.

That’s just one of many catalysts that will trigger a healthy and much needed market correction lasting six to eight weeks …

ewave-april-7-chart



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