For FullyInformed Members here is the intraday chart analysis to 12:35 PM on Mar 14 2016.
A few things are weighing on Market Outlook this morning. Oil fell 2 per cent this morning after Iran’s oil minister Bijan Zanganeh smashed hopes that production levels would see a freeze. This pushed crude down 79 cents to $37.71. Brent Crude fell below $40 again, with futures contracts trading around $39.69. Iran is insistent on pumping 4 million barrels a day now that global oil export restrictions have been lifted on Iran. Although reports show that Saudi Arabia is continuing to stay within production ceiling guidelines they had previously established, the move by Iran will keep oil prices under pressure.
Market Outlook: Interest Rates Again
This week as well the Fed meeting on interest rates is held mid-week and will keep the market outlook murky to start the week. This will keep stocks in a bit of turmoil as well which should assist my trading, at least at the start of the week as uncertainly will keep trading volatile. Most analysts expect the Fed to hold on interest rates right until June. However unemployment numbers, wage gains and the participation rate are three numbers the Fed watches and all three are showing improvement.
Market Outlook: China and Japan
Other issues include China and ongoing turmoil over banking and stimulus policies and measures as China deals with an ever slowing economy. This too will have repercussions for many commodities. Meanwhile Japan may announce further stimulus measures and yet another decline in its interest rates to push them deeper into negative numbers to try to boost their economy further.
Market Outlook: Overbought Condition
Stocks are now overbought which also has the market outlook more difficult to predict. Overbought markets though can continue to rise in the face of being overbought. However as you saw in the market outlook last night, the Rate Of Change is rapidly reaching levels that almost always signal a pullback to reduce the overbought pressure on the market.
Today’s market outlook for midday looks at stocks to 12:35 PM and includes a number of trade ideas and trades done…………..This intraday chart analysis and trades discussion article is for FullyInformed Members.
Market Outlook: Intraday Chart Analysis – Midday – Mar 14 2016
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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