Despite the weakness on Tuesday to start the week, the index is still overbought.
Tonight’s market direction outlook is shortened as I am spending my time on outlining trades planned for today for members.
Support and Resistance Levels To Be Aware Of:
3250 is resistance
3200 is light support
3100 is light support
3075 is light support
3030 is light support
3000 is support
2960 is light support
2950 was light support
2900 is light support
2860 is light support
2840 is support
2800 is strong support
Stock Market Outlook for Tomorrow – Wed Jan 22 2020
For Wednesday we will continue to see weakness develop and dips are likely as the market works out being heavily overbought.
The morning could see a dip following rather ho-hum earnings from Netflix. However overall the dips remain opportunities to setup trades as the bias is still higher for the market. Wednesday should see a higher close.
Stock Market Outlook Archives
On Friday the S&P started the day with a promising higher open but sellers took charge and the index fell. During the lunch hour the ....... Read More
On Thursday the S&P tested 3330. The dip at 3:00 PM found buyers but the close was weak as it rose higher to 3357. The ....... Read More
For FullyInformed Members here are the morning investing strategy notes for Thu Sep 17 2020. As well there is some information on a potential trade ....... Read More
Tuesday’s market reacted positively at the initial release of the Fed’s decision on interest rates and within 40 minutes of the announcement, the S&P was ....... Read More
For FullyInformed Members the morning investing strategy notes for Wed Sep 16 2020 touch on a couple of topics. There are no trades outlined for ....... Read More
Tuesday’s market started off strong with the S&P above 3400. By 1:30 the index was still holding above 4100 but was unable to make any ....... Read More
For FullyInformed Members the morning investing strategy notes for Tue Sep 15 2020 cover a number of topics including further upgrades done to two of ....... Read More
Monday’s market saw the anticipated bounce following the last week’s selling. All 3 indexes climbed including the S&P which reach 3383.54, up 1.2% on the ....... Read More