Weekly outlook for Jan. 28 Feb

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Rodger Morton
5 years ago
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Weekly outlook for Jan. 28 Feb. 1 2019 Summary The S&P500 index is expected to continue its rally, but there is a lot of economic data due this week and a n abundance of external news events.

1 Weekly outlook for Jan. 28 Feb Summary The S&P500 index is expected to continue its rally, but there is a lot of economic data due this week and a n abundance of external news events. All of this will affect the market. Oil is expected to attempt to break out from the overhead resistance zone around the $55-$54.50 zone this week. GOLD is expected to have a very small pullback first early in the week. But the rally is likely to continue later. Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 1 of 8

SP500 index (ES mini, and SPY): INTERMEDIATE-TERM TREND DIRECTION: neutral Trade strategy: The SP500 index closed slightly below the 20-wEMA line last Friday.

2 SP500 index (ES mini, and SPY): INTERMEDIATE-TERM TREND DIRECTION: neutral Trade strategy: The SP500 index closed slightly below the 20-wEMA line last Friday. The weekly PMO has turned up and still looks bullish in the intermediate-term. But this week external news will largely influence the market. In addition it is also the end of the month, with the usual window dressing and adjustments. Anything could happen. Go step by step to follow the price moves. Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 2 of 8

3 SHORT-TERM TREND DIRECTION: up Trade strategy: The SP500 index travelled inside the rising wedge pattern (light green lines on the chart). Now the top of the rising wedge at 2700 overlaps with the 200-dEMA line at Together they form an overhead resistance zone likely to slow down the current rally. On the downside, the 50-dEMA line at 2624 and the 20-dEMA line at 2604 should act as support to help hold the index up. The short term price action may test both support and resistance, with an abundance of external news events to stir the pot. If the index breaks below the 2600 level, then the declining could resume again. Weekly Option Strike price 2725 Expiration Date Strike price Meanline /28/2019 **** 2550 **** see daily trading plan Expiration Date Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 3 of 8

4 2. Oil ($WTIC, CL) INTERMEDIATE-TERM TREND DIRECTION: down with oversold condition Trade strategy: Buy on dip The 200-wEMA line at $52.33 needs to be held up this week to help oil break through the neckline ($55-$54.55) of the bullish inverted H&S pattern. The weekly PMO indicator continues to rally and looks positive. The slow STO indicator is rising. Both suggest this is a chance for oil to break through the neckline and continue to the upside. Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 4 of 8

SHORT-TERM TREND DIRECTION: neutral Trade strategy: buy on dip Oil seems to have formed its right shoulder last week. The neckline of the inverted H&S pattern (a bullish pattern) is lying at $55-$54.

5 SHORT-TERM TREND DIRECTION: neutral Trade strategy: buy on dip Oil seems to have formed its right shoulder last week. The neckline of the inverted H&S pattern (a bullish pattern) is lying at $55-$ The daily PMO keeps rising. As long as oil stays above $53, a retest of the 200-dEMA line at $60 could be the next upside target, provided that oil breaks thrpugh the neckline zone sucessfully. Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 5 of 8

3. GOLD (GC, GLD) INTERMEDIATE-TERM TREND DIRECTION: up Trade strategy: buy on dip Gold seems ready to resume its current rising trend. The weekly PMO rises above the zero line and looks great.

6 3. GOLD (GC, GLD) INTERMEDIATE-TERM TREND DIRECTION: up Trade strategy: buy on dip Gold seems ready to resume its current rising trend. The weekly PMO rises above the zero line and looks great. As long as gold price stays above the $1275 level, the next intermediate-term upside target will be near $ Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 6 of 8

SHORT-TERM TREND DIRECTION: up Trade strategy: buy on dip Gold had a small breakdown last Thursday, but it managed to hold above $1280 and bounced from it.

7 SHORT-TERM TREND DIRECTION: up Trade strategy: buy on dip Gold had a small breakdown last Thursday, but it managed to hold above $1280 and bounced from it. The price also broke $1300 during intraday trading last Friday. The daily PMO has turned up, and Friday's rally could continue. Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 7 of 8

does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment.

8 WEEKLY ECONOMIC REPORTS Copyright 2019 by Ltd. All rights reserved. Photocopying and further distribution of this newsletter are strictly prohibited. Information, opinion, research, and commentary contained herein is document should be construed as a solicitation to buy or sell any security. Ltd. does not act as an investment advisor, or individually advocate the purchase or sale of any security or investment. In making any investment decision, you will rely solely on your own review and judgment. Past performance is not an indication of future performance. Ltd. shall have no liability of whatever nature in Page 8 of 8

Weekly outlook for May 28/9 - June 1, 2018

Weekly outlook for May 28/9 - June 1, 2018 Summary The S&P500 index is expected to be dull due to the short week, barring major news. A minor pullback maybe seen, but it should be a very short-lived. It