The Weekly Markets Analysis - Summer time, Summer trading
The Fed didn’t provide any news and left confusion and uncertainty levels high as we enter summer vacation.
$SPX continues to range between 2120$ and 2060$, staying close to the top of the range as investors take the Fed’s hesitations as dovish sign.
The odd thing about it all is that stocks are falling due to probably one of the worst earnings seasons in years. We saw $AAPL continues its decline and reaching my target level, $FB, $TWTR and $LNKD all falling following their earnings report and yet, $QQQ remained higher. I guess its another signal that the market cares only about the Fed and it is heading for a sleepy summer towards September’s FOMC.
This week’s Requests Zone pick is $PCLN which will have its report later this week.
In Forex despite some intra-day up and down swings, the USD and the majors stayed pretty much where they have been stuck for a long time now and with $EURUSD below 1.1 again, the bearish potential is still that $EURUSD will head towards 1.07 to complete a daily bullish Gartley pattern.
$AUDUSD and $GBPUSD, both covered in this week’s Forex newsletter, are heading towards rate decisions and I have several interesting scenarios to for you to check out and monitor.
Summer time isn’t the best time to trade so take things lightly, reduce your exposure and focus on training. The Elite Zone is a great place to learn more about the markets and I’ll be glad to see you take the next step and join the Elite members - Press here to join.
Here’s this week’s newsletters links:
The Weekly Markets Analysis - Stock Markets - 2/8/2015
The Weekly Markets Analysis - Forex - 2/8/2015
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Tomer
The MarketZone
Notes