Stock Market Analysis

Monday, July 24, 2017

Will the US Market Continue Rally This Week?


US Market last week closed positive exactly how I predicted it to last Monday morning with the S&P500 gaining 25 points or 1.05%, bring the prepositioned SPY call options that me and my Master's Stock Options Picks subscribers took more than 40% into profit so far. (Did you miss profiting from last week's move? Profit with me for just $1 now!)

This was what I said last Monday:
"With economic data and the S&P500 returning back to an all out bullish trend from a short term neutral trend, this week continues to be bullish inclined"

So, the question that begs answering is, will the US market continue to rally this week? (that's what you guys came here to find out right? :) )

Well, after 2 weeks of strong rallying with a total of over 60 points and over 2.5% gained on the S&P500 in just 2 weeks, the market has come to a point of being short term overbought and is now in a place where the inclination would be sideways, a very small positive week or a very small negative week. Basically a sideways week that is more inclined to see some profit taking on Monday and Tuesday early in the week.

The only big releases this week would be Wednesday's FOMC announcement, which is not expected to change anything, and Friday's GDP which is expected to beat, which may be the impetus to take back some early week losses in order to close the week somewhat sideways.

However, with nothing in the fundamentals nor technicals to suggest that this bull trend is over, I expect the bullishness to recover over the next few weeks just like how the S&P500 did back in November 2016 and would in fact be taking this opportunity to preposition for the next move... preposition with me now!

For now, the market remains in short term, intermediate and primary bull trend.

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