July 5 Market Update | Technical, Fundamental, News
Description:
An analysis for the week ahead.
Points of Interest:
Low-Volume Above $3,150; $3,200 Balance; Tech Overextension; Weakness In Financials, Energy.
Technical:
Broad-market equity indices one time framed higher last week, evidenced by the higher highs and lows on the daily time frame, and closed the week off near a resistive low-volume area.
Recapping last week’s action, on Monday, the S&P 500 established a higher low, above the year-to-date volume weighted average price, and squeezed on good delta, through resting liquidity at and above $3,020.
After Tuesday’s challenge higher, the S&P retested $3,100, a high-volume area, and balanced Wednesday, building value and acceptance of $3,100 as evidenced by the responsive participation intra-day.
On Thursday, the U.S. economy added greater than expected payrolls, driving prices higher at the open, before establishing excess and fading to close the gap below.
Overall, though extended, the market is at an important technical level. Breaking further into the prior low-volume resistance would point to a change in sentiment, quashing the initiative activity that drove prices lower in the first place.
Looking beyond the broad market indices, the innovation-driven, technology-based sectors are extended while relatively weak sectors, such as energy and financials, suggest bigger selling may be around the corner. For a continuation higher, buyers must step up on dips and increase participation in search of higher prices, helping ensure value follows closely behind.
Scroll to bottom of document for non-profile charts.
Key Events:
Non-Manufacturing Activity; Final Composite And Services PMI; Initial Claims; Wholesale Inventory; PPI; Consumer Credit; JOLTS.
Fundamental:
The Federal Reserve destroyed price discovery and delayed the inevitable. yhoo.it/38tsqv1
Boeing Co (NYSE: BA) placed final part orders for its 747 jumbo jets. fxn.ws/31LTyV1
BA
General Motors Company’s (NYSE: GM) China quarterly sales dropped 5%. fxn.ws/3f0Ocsx
GM
Global GDP to remain below pre-virus levels through most of next year. bit.ly/38scysV
The Federal Reserve looks to Australia’s central bank for rate strategy. on.wsj.com/2AwxAKh
Airbus SE (OTC: EADSY) close to slashing jobs as output may drop 40%. reut.rs/2ZKoeDw
EADSY
Democratic nominee Joe Biden to end most of President Trump’s tax cuts. cnb.cx/38vj423
Royal Dutch Shell plc (NYSE: RDS.A) to cut asset values by up to $22 billion. reut.rs/2VN8fTE NYSE:RDS.A
Lululemon Athletica Inc (NASDAQ: LULU) to buy Mirror for $500 million. bit.ly/2VI3oDt
LULU
By year end, corporate earnings may recover from the pandemic slump. bit.ly/2ZBlRTn
Key innovation principles for delivering net-zero emissions, per the IEA. bit.ly/3f2yT2K
Laying out the worst-case scenario, a collapse of the financial system. bit.ly/2DeXKT3
Q2 projections are miserable as average S&P 500 earnings may decline up to 45%. bit.ly/2O0hITi
The U.S. added 4.8M payrolls, while the unemployment rate shrunk to 11.1%. bit.ly/2ZHX7ZL
Global refinery utilisation rates in 2021-2024 may be 3% lower relative to 2019. reut.rs/3f6mydO
Tesla Inc (NASDAQ: TSLA) beat analyst estimates for Q2 vehicle deliveries. reut.rs/38xvJ4G
TSLA
Brazilian regulators halt Facebook Inc’s (NASDAQ: FB) payments service. bit.ly/2C2fFeV
FB
Large U.S. banks pass the Fed's stress test, but must submit new capital plans. bit.ly/2C2fFeV
XLF
ASEAN response mitigated economic damage, but unlikely to offset credit risks. bit.ly/2C2fFeV
Sentiment: 22.2% Bullish, 32.0% Neutral, 45.9% Bearish as of 6/27/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Lower) 3,223,157,668 as of 7/2/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Lower) 46% as of 7/2/2020. bit.ly/2UpgtRE
Product Analysis:
S&P 500 (ES):
SPX 
SPY
Nasdaq 100 (NQ):
NDX 
QQQ
Russell 2000 (RTY):
RUT 
IWM
Gold (GC):
GLD
Crude Oil (CL):
USO DBO USL
Treasury Bonds (ZB):
TLT
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
An analysis for the week ahead.
Points of Interest:
Low-Volume Above $3,150; $3,200 Balance; Tech Overextension; Weakness In Financials, Energy.
Technical:
Broad-market equity indices one time framed higher last week, evidenced by the higher highs and lows on the daily time frame, and closed the week off near a resistive low-volume area.
Recapping last week’s action, on Monday, the S&P 500 established a higher low, above the year-to-date volume weighted average price, and squeezed on good delta, through resting liquidity at and above $3,020.
After Tuesday’s challenge higher, the S&P retested $3,100, a high-volume area, and balanced Wednesday, building value and acceptance of $3,100 as evidenced by the responsive participation intra-day.
On Thursday, the U.S. economy added greater than expected payrolls, driving prices higher at the open, before establishing excess and fading to close the gap below.
Overall, though extended, the market is at an important technical level. Breaking further into the prior low-volume resistance would point to a change in sentiment, quashing the initiative activity that drove prices lower in the first place.
Looking beyond the broad market indices, the innovation-driven, technology-based sectors are extended while relatively weak sectors, such as energy and financials, suggest bigger selling may be around the corner. For a continuation higher, buyers must step up on dips and increase participation in search of higher prices, helping ensure value follows closely behind.
Scroll to bottom of document for non-profile charts.
Key Events:
Non-Manufacturing Activity; Final Composite And Services PMI; Initial Claims; Wholesale Inventory; PPI; Consumer Credit; JOLTS.
Fundamental:
The Federal Reserve destroyed price discovery and delayed the inevitable. yhoo.it/38tsqv1
Boeing Co (NYSE: BA) placed final part orders for its 747 jumbo jets. fxn.ws/31LTyV1
BAGeneral Motors Company’s (NYSE: GM) China quarterly sales dropped 5%. fxn.ws/3f0Ocsx
GMGlobal GDP to remain below pre-virus levels through most of next year. bit.ly/38scysV
The Federal Reserve looks to Australia’s central bank for rate strategy. on.wsj.com/2AwxAKh
Airbus SE (OTC: EADSY) close to slashing jobs as output may drop 40%. reut.rs/2ZKoeDw
EADSYDemocratic nominee Joe Biden to end most of President Trump’s tax cuts. cnb.cx/38vj423
Royal Dutch Shell plc (NYSE: RDS.A) to cut asset values by up to $22 billion. reut.rs/2VN8fTE NYSE:RDS.A
Lululemon Athletica Inc (NASDAQ: LULU) to buy Mirror for $500 million. bit.ly/2VI3oDt
LULUBy year end, corporate earnings may recover from the pandemic slump. bit.ly/2ZBlRTn
Key innovation principles for delivering net-zero emissions, per the IEA. bit.ly/3f2yT2K
Laying out the worst-case scenario, a collapse of the financial system. bit.ly/2DeXKT3
Q2 projections are miserable as average S&P 500 earnings may decline up to 45%. bit.ly/2O0hITi
The U.S. added 4.8M payrolls, while the unemployment rate shrunk to 11.1%. bit.ly/2ZHX7ZL
Global refinery utilisation rates in 2021-2024 may be 3% lower relative to 2019. reut.rs/3f6mydO
Tesla Inc (NASDAQ: TSLA) beat analyst estimates for Q2 vehicle deliveries. reut.rs/38xvJ4G
TSLABrazilian regulators halt Facebook Inc’s (NASDAQ: FB) payments service. bit.ly/2C2fFeV
FBLarge U.S. banks pass the Fed's stress test, but must submit new capital plans. bit.ly/2C2fFeV
XLFASEAN response mitigated economic damage, but unlikely to offset credit risks. bit.ly/2C2fFeV
Sentiment: 22.2% Bullish, 32.0% Neutral, 45.9% Bearish as of 6/27/2020. bit.ly/330VhEp
Gamma Exposure: (Trending Lower) 3,223,157,668 as of 7/2/2020. bit.ly/2UpgtRE
Dark Pool Index: (Trending Lower) 46% as of 7/2/2020. bit.ly/2UpgtRE
Product Analysis:
S&P 500 (ES):
SPX SPYNasdaq 100 (NQ):
NDX QQQRussell 2000 (RTY):
RUT IWMGold (GC):
GLDCrude Oil (CL):
USO DBO USLTreasury Bonds (ZB):
TLTDisclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
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