{"id":2386,"date":"2020-10-12T13:18:00","date_gmt":"2023-03-31T20:19:08","guid":{"rendered":""},"modified":"2024-05-29T08:07:27","modified_gmt":"2024-05-29T08:07:27","slug":"market-daily-outlook-equities-market-bullishness","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/ar\/market-daily-outlook-equities-market-bullishness\/","title":{"rendered":"Market Daily Outlook – Equities Market Bullishness"},"content":{"rendered":"

Markets had a solid performance in the previous week and it looks like most of the indices start equally positive on Monday too. US stimulus, companies’ 3rd quarter earnings, and the coronavirus pandemic status will drive the bias of the participants.<\/span><\/p>\n

CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

On major US news, the investors anticipate further updates on the probable and upcoming new COVID-19 package relief from the US Congress before the elections. Additionally, important economic data are expected including the inflation rate YoY on Tuesday, the Retail Sales MoM on Friday as well as earnings from big banks like Citigroup, JPMorgan, Bank of America, Goldman Sachs, Wells Fargo, and Morgan Stanley. <\/span><\/p>\n

On major EU-UK news, many EU countries (UK, Spain, Italy, and the Czech Republic) are preparing new and tightened restrictions for fighting the rising coronavirus spread.  Philip Lane, the ECB’s chief economist, <\/span>gave <\/span><\/a>an interview to The Wall Street Journal and said “The next phase is going to be tougher,”  while  “The current inflation level remains far away from our goal” of just below 2%. Eurozone inflation fell to minus 0.3% in September.”. According to <\/span>FT<\/span><\/a>, EU regulators are ready to introduce a “hit list” of up to 20 large internet companies implementing tougher rules in order to “contain” their market power.<\/span><\/p>\n

Reviewing the technical view, SPX500 is stepping higher within the rising channel and is ready to reach the 78.6% Fibonacci level. Likewise, NAS100 is heading to 78.6% while potential forms an ABCD pattern. GER30 is grinding higher just below the broken wedge which acts a resistance. UK100 is still moving within the long-term channel and it’s close to hitting the upper side of it. <\/span><\/p>\n

SPX500 Daily
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<\/span><\/p>\n

NAS100 Daily
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<\/span><\/p>\n

GER30 Daily
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<\/span><\/p>\n

UK100 Daily
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<\/span><\/p>\n

CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

XAUUSD performed a solid rally and currently is testing the 200SMA from above. If gold validates the current level then it may complete the potential ABCD pattern.<\/span><\/p>\n

XAUUSD 240min
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<\/span><\/p>\n

USOil failed to break out of the grey zone and retraced to 200SMA. The current level is critical for both sides, bulls, and bears. <\/span><\/p>\n

USOil 240m
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<\/span><\/p>\n

Disclaimer<\/strong><\/p>\n

The views expressed do not constitute investment or any other advice \/recommendation \/suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of<\/span> ZuluTrade Social Trading Platform<\/span><\/a> and do not constitute an offer or invitation to anyone to invest or trade.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Markets had a solid performance in the previous week and it looks like most of the indices start equally positive on Monday too. US stimulus, companies’ 3rd quarter earnings, and the coronavirus pandemic status will drive the bias of the participants. CopyTrade with ZuluTrade On major US news, the investors anticipate further updates on the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2386","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1716969906:4"],"rank_math_seo_score":["14"],"rank_math_og_content_image":["a:2:{s:5:\"check\";s:32:\"ed4aa648e0e06329479927a3c939bc92\";s:6:\"images\";a:6:{i:0;s:58:\"\/image.axd?picture=\/2020\/12102020\/SPX500Daily 12102020.png\";i:1;s:58:\"\/image.axd?picture=\/2020\/12102020\/NAS100Daily 12102020.png\";i:2;s:57:\"\/image.axd?picture=\/2020\/12102020\/GER30Daily 12102020.png\";i:3;s:57:\"\/image.axd?picture=\/2020\/12102020\/UK100Daily 12102020.png\";i:4;s:55:\"\/image.axd?picture=\/2020\/12102020\/XAUUSDH4 12102020.png\";i:5;s:58:\"\/image.axd?picture=\/2020\/12102020\/USOilSpotH4 12102020.png\";}}"],"rank_math_analytic_object_id":["154"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/comments?post=2386"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2386\/revisions"}],"predecessor-version":[{"id":3978,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2386\/revisions\/3978"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/media?parent=2386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/categories?post=2386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/tags?post=2386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}