UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Sunday, November 17, 2019
Monday, November 04, 2019
FNGU is an exchange traded note that tracks 3x the daily price movements of an index of US-listed technology and consumer discretionary companies...the index is highly concentrated and equally weighted.
The next major resistance level is around 47.34 (61.8% Fibonacci Retracement level).
Sunday, November 03, 2019
R3 = 3117.67
R2 = 3085.67
R1 = 3074.33
PP = 3053.67
S1 = 3042.33
S2 = 3021.76
S3 = 2989.67
Weekly VWAP = 3068.22
Monthly VWAP = 3056.45
50 MA = 3046.43
200 MA = 3025.14
All of these levels represent short-term support and resistance levels.
The following monthly chart of the S&P 500 Index (SPX) contains a Fibonacci channel which begins at the March 2009 lows.
Its next Fib target sits around the 3125 level (1.618% external Fib level), which happens to coincide with Monday's R3 Pivot Point level.
Inasmuch as the Balance of Power lies currently with the bulls on this timeframe, we may see this level hit, if not on Monday, then perhaps sometime this week...particularly if 3050 (or, at least, 3040) holds as near-term support.
Finally, the following daily ratio chart of the SPX:VIX ratio shows that a bullish moving average Golden Cross has just reformed on rising RSI, MACD and PMO indicators...hinting of lower volatility and higher SPX prices.
If these hold, I expect that the SPX may just reach 3125ish in short order.