Conclusion.
The S&P 500 index is expected to open 0.4% higher today following the Consumer Price Index release which was slightly higher than anticipated at +0.5% m/m. The broad stock market will retrace more of the recent decreases. We may see a profit taking action later in the day.
Heres the breakdown:.
The S&P 500 extended its short-term uptrend the other day. It might be still a correction within a downtrend or some further combination along the 4,700 level.
In our viewpoint no positions are currently justified from the risk/reward point of view.
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Paul Rejczak,.
Stock Trading Strategist.
Sunlight Profits: Effective Investments through Diligence and Care.
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Upgraded on Jan 12, 2022, 2:56 pm.
Stocks backtracked some more of their recent decreases on Tuesday. Will the marketplace continue greater following todays consumer inflation data?
The broad stock markets gauge extended its advance following Mondays upward turnaround from the regional low of 4,582.24. The broad stock market continues to trade within an over two-month long debt consolidation. Last week, Apple stock broke below its two-month long upward trend line after reaching the brand-new record high of $182.94 on Tuesday. The broad stock market will retrace more of the recent declines. Subscribe for our everyday newsletter today, and youll get 7 days of FREE access to our premium daily Stock Trading Alerts as well as our other Alerts.
This Odey Funds Six Biggest Longs Were Its Worst-Performing Positions In 2021Odeys LF Brook Absolute Return Fund was down 4.6% for the fourth quarter, bringing its full-year performance to 9.9% for 2021. The fund, managed by James Hanbury and Jamie Grimston, has actually taken pleasure in a 12.9% compound annual growth rate because creation in May 2009. Q4 2021 hedge fund letters, conferences and more Another Strong Year For Read MoreThe S&P 500 index acquired 0.92% the other day, as it got back above the 4,700 level. The broad stock exchanges gauge extended its advance following Mondays upward reversal from the regional low of 4,582.24. It was a dip-buying opportunity, however the short-term advance still appears like an upward correction within a new downtrend. The broad stock exchange continues to trade within an over two-month long debt consolidation. Late December– early January consolidation along the 4,800 level was a topping pattern and the index was up to its previous trading variety.
On Dec. 3 the index fell to the local low of 4,495.12 and it was 5.24% listed below the previous record high. So it was a pretty mild down correction or simply a combination following last years advances.
The nearest essential resistance level is at 4,700-4,720 and the next resistance level is at around 4,750. And the crucial assistance level is now at 4,580-4,600, marked by Mondays day-to-day low.
Apple Bounced From the $170 Price Level.
Last week, Apple stock broke below its two-month long upward pattern line after reaching the brand-new record high of $182.94 on Tuesday. Far, it looks like a downward correction and the nearest essential support level is at $165-170, marked by the previous highs and lows. The stock trades within an over month-long debt consolidation of around $170-180.
Is this a medium-term topping pattern? Its getting very hard to essentially validate the Apples current market capitalization of around $3 trillion.
