Upcoming Earnings Season to Provide a Spring Spark?
Today’s Spotlight Market
As the first quarter draws to a close this week, many investors are looking ahead to the upcoming corporate earnings season to provide some direction. The first quarter of 2016 has seen extremely volatile markets across a wide spectrum. Equity markets, gold, oil, and currencies have been on a roller coaster ride throughout the past three months as markets reacted to the Federal Reserve?s first interest rate rise in December 2015, slowing growth in China, a glut of crude oil supply, and the possibility of the United Kingdom leaving the European Union.
Fundamentals
As the first quarter draws to a close this week, many investors are looking ahead to the upcoming corporate earnings season to provide some direction. The first quarter of 2016 has seen extremely volatile markets across a wide spectrum. Equity markets, gold, oil, and currencies have been on a roller coaster ride throughout the past three months as markets reacted to the Federal Reserve?s first interest rate rise in December 2015, slowing growth in China, a glut of crude oil supply, and the possibility of the United Kingdom leaving the European Union.
Technical Notes? -? View Today’s Chart
Turning to the 6 month continuation chart for the e-mini S&P 500, we see a moderately bullish trend. The e-mini has rebounded since the double bottom near the 1800 level. The 200 day Simple Moving Average (SMA) is providing support, the e-mini crossed above the 200 day SMA in mid-March, the 200 day SMA was previously providing resistance and this previous resistance level is now providing support. 14 day RSI is a moderately bullish 64.41.
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