1. Shanghai SSE Composite Index surge and consolidate this morning.
Refer to MP Trader's chart and Trendlines early forecast resistance of 2700.
2. S&P500 broke 1120 resistance and closed at 1125.86, and trending towards overbought. Professional chartists project 1150 as the next hurdle. Surge will continue to mid week before consolidate/mild correction (watch trend from here). Copper consolidating and Gold mix signals.
3. CBOE Option Future Volume - Put/Call on 2nd August closing - Ratio is around 2:1. "Meat" is here!
View : Neutral near SSE 2700 and S&P500 1150 resistances likely mid/late week.
Fundamental Trend
PMI may hit cyclical bottom for China, US and EU (Germany & UK better than June). May peak at Q4 2010 for both EU and US, and China February 2011. US pondering 2nd stimulus ... Watch US job data (cyclical?) improvement from here if no mishap!
View : Next pull back August/September - use technical indicators to track closely.
US PMI chart for reference. Details refer to economic calendar.
Market Headlines
Last week positive trend but early this week conflicting signals.
Above information are for sharing only. Do your own homework.
No comments:
Post a Comment