11/01/2021
Weekly market outlook and analysis 11-15 Jan 2021
The studies shared below are our personal opinions and should not be used as advice to buy and sell in the stock market. Please take these as entertainment and feel free to have your own opinion.
New Year, New Highs! What do you expect? Things still remain the same craziness. We have mob attack on the Capitol then NFP results is negative. With the setbacks we still close at the high.
S&P 500
On the first day of the week, this index sold off and almost hitting our 1st support level. And then close at the level we expect the pull back will be. Then it rallies up to our target of 3800. Yay! So, what is next? We can have our next target of 4000 but that will take some time. We can expect the index to rally for another day, but that will stretch us too much. Expect another pull back to the level of 3725. If we close below this level, we might be able to see some more selling to 3634 again.
DJI
Though we closed at ATH again this week, we are now showing some signs of slowing down. We are still bullish as indicators are showing their bullishness. Again, for this week, expect pull back to the moving average of around 30390. If we close below the moving average, we will see at the level at 29933
Nasdaq
Not a bad read on this. We expected to pull back to around 12626 and so it did. Then it rallies up and close at all-time high. There is no way to stop a moving train. Just let it go to the next station. If you are trying to get on the train when the market is open, I advise not to. Please stand behind the yellow line. The next train will arrive
at around 12650. Standby when it reaches 12800.
Remember these tips: A dip to the moving average is a good opportunity to get on. Low can go lower and the high can go higher. Do not jump in front of the force when it is trending. Have a good week!