03.05.2023 | Weekly Market Newsletter | Vol. 2 Issue 9
Market Trader's Weekly Newsletter brings potential swing setups with a time horizon from days to months depending on price action. The following research is based on Fundamentals & Technical Analysis.
What is included in this week's edition?
WEEKLY REVIEW & LOOKING AHEAD - An overview of current market standing, fundamental matters with implications upon the market, and general sentiment regarding the major US indices. Key takeaways to be mindful of as we look forward to the upcoming trading week.
FUTURES MARKETS - A technical review of the major indices and futures that represent the market's overall health.
STOCKS - Trends, key levels, and trade targets are identified for individual names presenting potential opportunities in the market.
Weekly Review
The stock market broke its losing streak this week, supported by technical buying interest and a drop in market rates by the end of the week. The market may have been oversold on a short-term basis, driving this week's gains. Concerns about sticky inflation were stoked this week by data releases, including the February ISM Manufacturing Index, the weekly initial jobless claims, and the revised Q4 productivity. Despite the rising market rates, most of the S&P 500 sectors logged a gain this week led by materials, communication services, and industrials, while the only sectors to decline were utilities and consumer staples. The U.S. Dollar Index fell for the week, and WTI crude oil futures rose, while natural gas futures surged.
Weekly Performance Heatmap
Overall Stock Market Heatmap
Sector Performance
Looking Ahead
Next week, there will be a significant amount of U.S. market data, including January's factory orders, durable goods orders, and the U.S. trade balance, as well as February's updated jobs data. Many countries will also release multiple inflationary readings throughout the week. The Chinese government's National People's Congress will begin on Sunday, while in the central bank space, Fed speakers are heading into their blackout period ahead of the March 22 Federal Open Market Committee meeting. ECB President, Christine Lagarde, is scheduled to speak early Wednesday morning. Fourth-quarter earnings season will also continue to wrap up with only a couple of big-name companies reporting.
Earnings Calendar
Economical Events
Future & Commodities Markets
So, now the question is that the upward trend now confirmed with this higher low pivot? Below are the levels for this upcoming week - updates will be provided throughout the week in the discord if the levels are reached throughout the week.
/ES - Emini S&P 500
Upside: If we hold and stay above the 4030, we could expect to test of 4075-4090 and if we manage to break above that, then next stop is 4110.
Downside: If we fail to hold 4030, then we could go down to test the 4000 but failure to hold that level as support will open a test of 3975.
/NQ - Emini Nasdaq 100
Upside: If we hold and stay above 12250, then we can test 12400-12500 (back into the consolidation zone) and the next level up would be near the top of the range at 12700.
Downside: If we fail to hold 12250, then we could go down 12150-12000 (critical level) then test the critical support (recent low) at 11750.
Stocks
Updates on the stocks will be provided in the discord throughout the week (link is below) 👇
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Disclaimer: This newsletter is not trading or investment advice, but for general informational purposes only. This newsletter represents our personal opinions that we share publicly for educational purposes. Futures, stocks, and bonds trading of any kind involves a lot of risks. No guarantee of any profit whatsoever is made. In fact, you may lose everything you have. So be very careful. We guarantee no profit whatsoever, You assume the entire cost and risk of any trading or investing activities you choose to undertake. You are solely responsible for making your own investment decisions. Owners/authors of this newsletter, its representatives, its principals, its moderators, and its members, are NOT registered as securities broker-dealers or investment advisors either with the U.S. Securities and Exchange Commission, CFTC, or with any other securities/regulatory authority. Consult with a registered investment advisor, broker-dealer, and/or financial advisor. By reading and using this newsletter or any of my publications, you are agreeing to these terms. Any screenshots used here are the courtesy of Briefing.com, ForexFactory, Finviz, Tradytics, Wells Fargo Advisor, and/or Tradingview. We are just end-users with no affiliations with them.
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