A hawkish FOMC announcement from Yellen & co wrapped up the last major risk event of the year, and it sent US Dollar and yields soaring higher to yet another high of the year. To recap, the Fed raised interest rate for the 2nd time post crisis as expected, though the highlight was the new… Continue reading Daily Commentary – Pricing in the Dots
Quick update today as markets likely chop sideways heading into FOMC meeting on Wednesday. Dow remains on a mission to 20000 while SPX and Nasdaq were in the red. The 3 asset classes we ought to watch for potential major reversal with similar bottom patterns are 1) Gold (GLD) Marginally lower lows with improving technicals… Continue reading Daily Commentary – The Big 3
Just 3 more weeks before 2016 draws to a close with only one major event ahead of us, which is none other than the FOMC announcement this coming Wednesday. US equities remain unstoppable since the breakout move last Wednesday and finished green the rest of the week to finish at the highs, as the SPX… Continue reading Weekly Commentary – The Grand Finale
Boom. An explosive move to the upside for US equity markets with the SPX up the most (+1.3%) since the beginning of the Trump Rally, and fresh new ATHs with the Dow less than 500pts away from 20000. Notably, the SPX converged with the Dow to break above ascending wedge and is now in escape… Continue reading Daily Commentary – Another Early Xmas Present
Another positive market reaction in equity markets following a populist movement in the world. Brexit, Trump and Italy referendum. In other words, a 100% record that the stock market would rebound strongly after the initial panic move lower. By the time markets opened, futures were already solidly in the green, as SPX closed up 13pts… Continue reading Daily Commentary – 3 Out of 3
First Brexit, Then Trump, Now it was the Italians who voted resoundingly against the status quo in a referendum and yet another victory for the populists’ movement across the globe. Consequently, “Italy’s main opposition parties called for early elections as soon as Italian Premier Matteo Renzi conceded defeat in Sunday’s key referendum vote, announcing he… Continue reading Weekly Commentary – The Year of Populists
The astonishing month of November finally ended. Based on how much the world has changed during that span, it did felt a lot longer than a month. Indeed, 30 days ago, few imagined the possibility of a Trump presidency. 30 days later, most are now embracing the fresh, bright future for America, including the politicians… Continue reading Daily Commentary – Honeymoon Rally
On the heels of better than expected GDP number, US markets opened with a positive sentiment before grinding sideways to close slightly up on the day with SPX +3pts while the Dow +23pts. Quite simply, from technical perspective no new development in the daily charts for the major indices. Though worth noting for the SPX,… Continue reading Daily Commentary – Monthly Charts at Critical Juncture – Part 2
US markets had a slight holiday hangover though damage was limited, with SPX down 11pts but held above the milestone mark of 2200 while the Dow dropped by only 54pts and remains firmly above 19000 and breakout area from ascending wedge. More noticeable weakness in the top momentum plays since Trump’s victory, including Russell 2000… Continue reading Daily Commentary – Monthly Charts at Critical Juncture
Hope those in the US had a fantastic Thanksgiving holiday. The US markets certainly had a festive week with all 4 trading days in the green, though obviously on light volume given the holiday schedule. Whether this breakout has conviction hinges on if there is follow-through this coming week. Technically, the Dow did cleanly broke… Continue reading Weekly Commentary – Digesting the Rally
WingCapital Market Blog 