Commentary: Paul Ebeling on Wall Street
$DIA, $SPY, $QQQ, $RUTX, $VXX
- Monday, earnings season starts in earnest
For now traders are playing an oversold bounce. But, if this is a relief move, the later you enter, the worse risk/reward. So, be selective if you are adding more bounce plays.
Also, look at some areas receiving money before the bounce. If they hold up in good tests, and if the bounce does not hold and extend they will get more money. Meaning, gold, other precious metals, select retail stocks
Always play what the market gives.
If this bounce does not hold, rolls over, tests and bounces again there will be good plays on the big names. If not, there will be plays on the areas that got money as the big names sold off and we will see more action to the Southside again.
That is what I see in here now.
All of the talking head talk is noise and means nothing. But, the Fed’s is not a talking head, and owing to its history always over does things.
President Trump’s comments last week have hobbles Chairman Powell somewhat. The Fed is a market and economy killer, and if that holds, and this move stalls, then I look for a bigger move beginning in November into year’s end.
Pay attention, remember it is your money and your responsibility.
The Bulls Vs The Bears
The Bulls are at: 56.3 Vs 61.8 Last
The Bears are at: 18.5 Vs 18.6 Last
Support and Resistance
HeffX-LTN’s Major US Stock Market Indexes Technical Analysis for the Week Ended 12 October 2018
Have a terrific week
Latest posts by HEFFX Australia (see all)
- New Resort Tees Off with Golf Course to Unveil ‘Stay and Golf’ Experience - October 22, 2020
- Introducing Vietnam’s Coast With the Most - October 22, 2020
- Tesla (NASDAQ:TSLA) Drops a Huge Bombshell with Q3 2020 Results - October 22, 2020