Monday, October 5, 2020
Saturday, October 3, 2020
Baltic dry index - 2020
Today, Friday, October 02 2020, the Baltic Dry Index climbed by 151 points, reaching 2020 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
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Related stock: Sembcorp Marine, Cosco & Pan ocean.
Friday, October 2, 2020
US ISM PMI analysis for September 2020.
The prices increased to 62.8 (+3.3) because the producers were in an inventory reduction phase (PPI < CPI) which we had discussed before. Furthermore, this also indicated that US inflation would continue unabated. The new order (60.2, -7.4) declined significantly because of a huge fall in the local new order (-8.4) due to a smaller pandemic relief aid and an increase in personal savings. The inventories had started to increase by 2.7 points and this would signify that there would be increases in production and customers’ inventories eventually. Overall, the PMI had declined slightly to 55.4 which meant that the US was still in an expansionary mode.
S&P 500 Technical analysis. - Part 4
http://sg-stock.blogspot.com/2020/09/s-500-technical-analysis-part-3.html
I was asked to give my opinion on the new resistance line. Here it goes!
The new resistance line will be the previous peak in Feb 2020 and I've drawn the line to show it. Coincidentally, the S&P also stayed below that new resistance line that I've drawn. Please bear in mind that the candlestick gap will provide a good support range unless the S&P crashes through the gap.
Thursday, October 1, 2020
Wednesday, September 30, 2020
Tuesday, September 29, 2020
S&P 500 Technical analysis. - Part 3
Let's continue our S&P 500 technical analysis.
The above chart showed that 2 positive signals had developed prior to the S&P rise. The candlestick had closed above the 5-day SMA and the stochastic had a bullish crossover.
If there were at least 2 positive signals, we could execute a trade with a calculated risk.
What's going to happen next?
A candlestick gap has occurred and this will provide a support level for the S&P. As long as the S&P doesn't fall below the gap, the S&P will continue to rise. Once the gap is breached, we will have to draw new resistance and support levels based on recent high volume days.
http://sg-stock.blogspot.com/2020/09/s-500-technical-analysis-part-2.html
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