No. of Recommendations: 1
I like his recaps because he uses stockcharts.com. In some cases he uses bar charts and others Japanese candlesticks. Still, easy to read if you know your T/A:

https://www.stocktrader.com/2019/07/07/weekly-stock-market-r...

The week ahead..

The Fed has been backed in a corner! Powell is going to testify in front of Congress Wed / Thu as well.

Fun fact: The Federal Reserve Bank of New York currently forecasts a 29.6% chance of a U.S. recession in the next twelve months. The bank’s model, based upon the spread between 10-year and three-month Treasury yields, has reliably predicted recessions once it has hit the 30% threshold, said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management.

Index charts:

Short term: the S&P 500 finally broke through old highs. Now we are waiting for the NASDAQ.

The Russell 2000 has been stuck in this range for a long time – other than a few months in latter 2018 and early 2019 it has been the laggard of the major indexes.

The NYSE McClellan Oscillator is back where bulls want it.

Long term: can’t complain.




Charts of interest / Big Movers:

Monday, Boeing (BA) dropped 7.5%. The company has been struggling with the grounding of its 737 Max jets, but also more broadly is vulnerable to tariff negotiations.

Coty (COTY) fell 13.5% Monday, after the beauty-products company announced a turnaround plan that will add $160 million in extra costs and involve a $3 billion impairment of its intangible assets.

Tuesday, Amarin (AMRN) gained 16%, after the pharmaceutical company raised its full-year outlook, while announcing plans to double its U.S. sales force to better market its Vascepa treatment for cardiovascular disease.

Symantec (SYMC) surged 14.6% Wednesday after a report of a potential buyout by chip maker Broadcom (BRCM).
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