26 – 30 October 2020 Trading week preparation

Every week I share a bunch of stuff.
– Daily signals for MA Crosses and MA breakouts
– Market Reports
– Consolidated market data and more.
https://eod-notes.com/shared-content/


From last week:
Crazy week, SP500 making huge intraday swings, uncertainty reigns in the markets, and huge earnings blow out.

I am still for the major side on the sidelines, there’s too much I don´t “understand” so I prefer to be conservative. I know I am missing on huge returns, but I prefer to sleep without the worry of a market meltdown.
And there are other ways to keep investing. I recently added Masterworks.io painting shares to my portfolio, If there’s interest in it, I will make a post about it.

I am still long $AG , $LVO.MI and Gold CFD.

Next Week:
More earnings ahead, last week was pretty good earnings wise. Intel was a huge upset and Southwest Airlines a huge surprise.
I don´t really know what to think about Tesla, I sort of believe everything is a big scheme, but who knows…

The week ahead:

Earnings Whispers

I will be watching Flastly, It will be interesting to see what happens after last week’s disappointment on US and Bitedance (China /TikTok rivalry).
Microsoft is almost a certain beat with a rally, same as Apple and Amazon.
Curious about how Jetblue is doing, I wasn´t expecting the $LUV earnings.
Facebook will be a huge upset, in my opinion, the ad´s revenue ll be very bad,
The last ones are the big pharma, Pfizer, Moderna, and Gilead

WTI
WTI keeps inside the trading channel/trend lines.
I already explained my narrative, there´s no demand for the excess supply.
I think oil is heading lower, probably retest of – $30.

Oanda WTI CFD daily
Market Gauge Crude Dashboard

Gold
The yellow metal It´s trapped on the current level.
My reading is that every move is dependant on how the dollar is moving, and the uncertainty of the US elections is making gold numb.

Fun fact $GVC, gold volatility, is approaching Its lows of $20.
Technically, gold broke out a bull pennant and should be up, the failure to push through $1900 cloud be a warning.

I am still watching the $1800 level to add to my position with size (yellow area).

Oanda Gold CFD daily
Market Gauge Gold Dashboard


SP500
This big boy, the choppiness is unreal…
Last week’s swings were between a 79 points range, with intraday drops of 30-40 points. That´s huge money on the table.

SPX cash session

Technically looks like we are revisiting the 3500 level, again before a drop.

Oanda CFD SP500

To be fair, the market is holding nicely, the 250DMA is above 62%.
One thing to have in consideration, the impact of the US elections on the dollar and therefore on the stocks. Stocks are a huge yield provider for many investors in the US and If USD is no longer appellative, they will look somewhere else for that yield.

Themes
We are at that time that the “manias” will start moving again.
My special candidates are $AVO, Mission Produce, an avocado producing company.

Avo daily

$TLRY, Tilray a cannabis producing company, just broke out and could eye $11.

TLRY daily

The last mania is guns, after US elections, doesn’t matter which side wins, there will be a huge blowout. Guns will be back again with full force. I am eying $RGR Rugger and $SWBI Smith and Wesson.

SWBI and RGR daily

Other Notes
FX is going insane, CAD and AUD look very vulnerable.

Market Gauge FX

Interesting Articles

Events:
Check the full calendar here:
https://www.investing.com/economic-calendar/

Special notes on:
– EUR German Ifo climate / Cash rate / Jobs
– USD Durable goods / GDP / Chicago PMI
– CAD Cash rate / GDP
– CNY PMIs

Leave a Reply

Your email address will not be published. Required fields are marked *