Nasdaq – potential bearish head and shoulders formation in the making? (29 Sep 19)

September 29, 2019 el15

With reference to my earlier write-up (click HERE) titled “S&P500 at 2,979 – limited potential upside (8 Sep 19)”, S&P500 touched intraday highs of 3,021 – 3,022 on 12 Sep 2019 and 19 Sep 2019 but it was still lower than the record intraday high of 3,028 on 26 July 2019. S&P500 closed at 2,962 on 27 Sep 2019. Hang Seng and STI touch one-month intraday highs on 13 Sep 2019 before profit taking sets in. October is likely a volatile month ahead given (just to cite a few examples) more news on trade talks (e.g. U.S vs China; U.S. […]

S&P500 has jumped 10.6% since 26 Dec! Should we chase the rally? (12 Jan 2019)

January 12, 2019January 12, 2019 el15

Dear all Since my write-up on 23 Dec 2018 (see HERE), S&P500 has jumped approximately 7.5% since then. In fact, S&P500, after touching an intraday low of 2,347 on 26 Dec 2018, it has risen 249 points or 10.6% to close 2,596 on 11 Jan 2019. Is this the start of another upcycle in equities? Should we chase the rally? Below are some of the positive and negative points which readers can take into consideration before we can arrive to a well thought out answer. Potential positive points supporting the continuous rally a) Fed may acknowledge rising risks to […]