S&P All Time High

On Friday the S&P 500 managed to print a new all time high on the back of decent earnings reports and a positive underlying sentiment to risk.

There are a lot of events this week for investors and traders to take on board:

*EU Business & Consumer Surveys out this morning.

*U.S. Inflation report this afternoon.

*EU Employment and GDP report on Tuesday, gives us latest info on growth status.

*U.S. consumer confidence on Tuesday.

*Fed rate announcement, with press conference. Market looking for clues on possible rate cuts.

*Companies that will report this week  include: Apple, Alphabet, GE, BP, Royal Dutch Shell and McDonald’s to mention a few.

* Oil traded up to $75 last week and retraced to $72.  Interesting to see if Saudi Arabia reacts to President Trump’s call for action.

*China/U.S. trade talks will come center stage as The U.S. sends top negotiators to Beijing looking to agree a deal in the next few weeks.

*Watch for developments regarding European elections which will take place in less than a month.

*We are watching developments in the Uber IPO.

              Uber lost 1.13 in the first 3 months of 2019 (unaudited)

              In 5 years since 2013, cumulative loss is $12.1 billion

              Revenue is falling, YOY growth on quarterly basis has dropped each of the past 5 quarters

*Bank of England announces interest rates Thursday, with highlight being statement on UK economy.

*Friday is the U.S. jobs report and ISM manufacturing reading.

*Japan is closed all week and will affect liquidity in the Asia markets.

*In addition we have Italy back in the news as there is talk of troubles in the coalition government.

Given all of the above, we will have a pretty good picture if we are headed to a “MELT UP” in stocks or something else.

Oil is at the lower end of its rising wedge formation and 71.00 is a key level to monitor.

Dollar index has broken above resistance.  The Fed comments on Wednesday may take some shine of the greenback, but we expect it to continue higher.

EURNOK holding in it’s recent range.  We expect the cross to continue range trading .

The VIX index is holding at the 14 level, and with the amount of market moving news releases this week we expect this level to hold into Fridays employment report.

Contact us if you are interested in receiving real time trading signals. In doubt? Check out our track record below!

TickerDate OpenedEntry PriceStopTarget PriceCurrent Price% Change
Long Call Option XAUUSD18/0313.090.11-99,16%
Short Call Option XAUUSD18/035.111.10+78,47%

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– Mark W

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