Market Outlook: November 2015

Thursday, November 19, 2015

11/18/15

Markets have had a nice rebound after selling off Thurs, Fri, and then opening down Sunday after the Paris attacks.

Econoday Economic Report: Market Reflections November 18, 2015

/ES has a vW to 2094.75 triggered, which is at a GAP fill at 2093.25. It has also back above it's 10ma.

/TF has similar setup as /ES

Nikkei 225 hit vW19912

Sunday, November 15, 2015

11/13/15

Stocks sold off this week with several days down over 1%. All indexes except the Nasdaq are below their 200ma's.

Econoday Economic Report: Market Reflections November 13, 2015

/ES was down over 1.3% and sitting just above a gap at 2011.25 and a vM to 2011. It could not find support and its 200ma. The 50ma is at 2000.

/ES larger time frame has a huge vM to 1571.5, and vW to 2345.75 that have formed. If the /ES can hold 8\24 crash levels and make new highs, the vM to 1571.5 will be nulled. If the /ES does break below crash levels, the vM to 1571.5 will be triggered.

The Russell closed below its 50ma. 200ma is converging towards the 252ma. vM to 1038.1 is triggered, which if hits will have triggered 849.1

The Nasdaq is still above its 50ma.

Dow

Nikkei 225 just above 200ma

IBB tanked Thursday afternoon, printing a huge candle, hitting 311.64, then rebounding.

XLF

Bonds trying to regain 10ma.

Gold fell into vM target price of 1075.7 this week. See if can hold 1072.3

Oil likely to dip below $40 towards $39.02. Next support is the gap at $36.25, then vM to $33.07, then $18.93 if cant hold $33.

Copper well below 8\24 crash levels.

Thursday, November 12, 2015

11/12/15

Stocks were down, except in Asia. Bonds gained .5% against the dollar. Gold was flat after a whipsaw a.m. session likely from Yellen speaking. Oil was down 3%, breaking below $42.58. Copper fell below 8/24 crash levels on heavy volume.

/ES was down 1.38% hitting vM 2044.5. Has balanced targets 20 2038.75 and 2037.5 remaing. If cant hold those, expecting to hit vM2011 which will be at gap fill(2011.25).

Copper

Oil

Wednesday, November 11, 2015

11/11/15

Markets were down slightly with the Russell leading the way down 1.08% v.s. .32%

Copper dipped below 8/24 crash levels. 2.117 on the radar. Oil was down over 2.5% and testing the $43 level.

Copper dipped below 8/24 crash levels. 2.117 on radar.

Oil was down over 2.5% and testing the $43 level. Needs to hold $42.58 to avoid further selling below $40.

Tuesday, November 10, 2015

11/10/15 - AAPL

Markets were pretty flat across the board.

/ES below 10ma. Has bearish patterns to 2040 area.

/TF filled gap at 1198.3 and has so far rejected it.

The $ looks headed above 1.0

Bond daily chart looks bearish but intraday looks like could migrate back towards the 200ma.

Daily

Intraday

Gold has vM to 1075.7 which could be a good entry point, putting a stop just below the 7/23 low at 1072.3

Copper is near 8/24 crash levels at 2.1985

If oil cant hold 42.58, sub $40 likely up next.

AAPL fell over 3%

Sunday, November 8, 2015

11/6/15 Mnst

Indexes were mixed Friday with the Russell up .76% and the S&P was flat. The dollar jumped 1.25% while bonds, oil, and gold were down about 1.5%.

Econoday Economic Report: Market Reflections November 6, 2015

/ES testing its 10ma. Has vM to 2070.75 inside a larger vW to 2127, as long as can hold 2064.25

/TF broke 9/17/15 Fed announcement levels, and filled a gap at 1198.3

Then Nasdaq is testing its 10 ma after making new highs earlier in the week.

The dollar has vW's to 100.02 and 100.52. See if can make new highs and null vM to 86.37.

Bonds fell 1.27% against the dollar. See if can hold 154'16, if not low 150's next stop the needs to hold for bond bulls.

Gold futures need to hold vM 1072.3 to avoid nulling vW's above 1200.

Oil

Copper filled a gap and is just above a 5+ year low at 2.1985, which it needs to hold avoid nulling vW's. If breaks the low, see if can hold 2.16 area, if not 1.84 on the radar.