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Technical Backdrops and Monetary Conditions Deteriorated

S&P could signal an extended downward trajectory, depending on how it closes over the next few days. Technical backdrops and monetary conditions are deteriorating, suggesting the index might have to go to a much lower level to attract new buyers. 2700 is the line in the sand. It held in the first down move that started earlier this month. A close below that level indicates a change in sentiment and increases the probability of a full blow correction

SPDRs Report

Good Morning. This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for October 23, 2018. Editor’s note: this column was originally published on Capital Essence’s CEM News. It’s being republished as a bonus for the loyal readers. For more information about subscribing to CEM News, please click here. Below, daily, weekly …[read more]

Market Internal Deteriorated as S&P Tests Key Support

the fact that the S&P is basing sideways near key support as it worked off the short-term oversold condition rather than bouncing higher, indicating an internal weakness. Several short-term indicators are pointing toward further weakness, suggesting that S&P’s 2700 might not hold for long. A failure to hold above key price level indicates a change in sentiment and a much deeper pullback should be expected

SPDRs Report

Good Morning. This is Capital Essence’s U.S. Market ETFs Trading Map – SPDRs Sector Report for October 22, 2018. Editor’s note: this column was originally published on Capital Essence’s CEM News. It’s being republished as a bonus for the loyal readers. For more information about subscribing to CEM News, please click here. Below, daily, weekly …[read more]

All Bets are off should S&P Falls below 2700

the near-term technical bias remains somewhat bearish as S&P’s testing key price levels. More backings and fillings would not be a surprise. S&P’s 2700 is the line in the sand. All bets are off should the bulls fail to secure this support

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