Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
Oct 22, 2020
Weekly initial jobless claims dips below 800,000

Weekly initial jobless claims dips below 800,000

The number of Americans applying for initial jobless claims registered a decrease last week, falling below 800,000 for the first time since the COVID-19 pandemic began to hurt jobs market.

According to the Dept. of Labor, 787,000 Americans filed for initial jobless benefits for the week ended Oct. 17, compared to a revised 842,000 the week earlier. The latest week’s figure is also lower than the 895,000 expected by economists polled by FactSet.

Continuing claims, (the number of people filing and those staying on unemployment benefits) was 8.373 million for the week ended Oct. 10, revised downward from 9.397 million the previous week, the Labor Department said.

While the jobs market and real economy is yet to recover from the pandemic-induced losses,  Tickeron's analysis of stock market shows the following:

SPDR® S&P 500 ETF (SPY) 

SPY in upward trend: 10-day moving average broke above 50-day moving average on October 09, 2020

The 10-day Moving Average for SPY crossed bullishly above the 50-day moving average on October 09, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. In 11 of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 85%.

Current price $342.49 is above $332.29 the highest support line found by A.I. Throughout the month of 09/21/20 - 10/21/20, the price experienced a +5% Uptrend, while the week of 10/14/20 - 10/21/20 shows a -1% Downtrend.

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Indicator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.

The Momentum Indicator moved above the 0 level on October 01, 2020. You may want to consider a long position or call options on SPY as a result. In 49 of 71 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 69%.

The Moving Average Convergence Divergence (MACD) for SPY just turned positive on October 01, 2020. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in 35 of 49 cases over the following month. The odds of a continued upward trend are 71%.

SPY moved above its 50-day Moving Average on October 07, 2020 date and that indicates a change from a downward trend to an upward trend.

Following a +2.52% 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in 250 of 368 cases, the price rose further within the following month. The odds of a continued upward trend are 68%.

Bearish Trend Analysis

The 10-day RSI Indicator for SPY moved out of overbought territory on September 03, 2020. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 58 similar instances where the indicator moved out of overbought territory. In 27 of the 58 cases, the stock moved lower in the following days. This puts the odds of a move lower at 47%.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 50%.

SPY broke above its upper Bollinger Band on October 12, 2020. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for SPY entered a downward trend on October 05, 2020. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Related Tickers: SPY
Related Portfolios: Large-Cap Blended Equities (U.S.)
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 07, 2021
4 Tricks Hedge Funds Use to Get Ahead

4 Tricks Hedge Funds Use to Get Ahead

If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.
John Jacques's Avatar
John Jacques
published in Blogs
Mar 22, 2018
A.I. Stock Market Predictions: Head & Shoulders

A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I.  Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Jul 10, 2020
3 Stocks to Buy if Coronavirus Second Wave Hits

3 Stocks to Buy if Coronavirus Second Wave Hits

By analyzing market trends from the first wave, you can predict behavior for the second. Technology stocks have performed at historic levels this year, but the market is severely overbought.To compensate for that, look at performance during Q1 and Q2, the height of global Covid shutdowns.
Edward Flores's Avatar
Edward Flores
published in Blogs
Feb 06, 2021
How to Become the Millionaire Next Door

How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations.  As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.
Alla Petriaieva's Avatar
Alla Petriaieva
published in Blogs
Feb 23, 2021
Is Ethereum’s Bomb about to Explode?

Is Ethereum’s Bomb about to Explode?

Ethereum’s software is set for an update in October.Until it is finished, participants in the Ethereum blockchain must determine how to delay the difficulty bomb – code that necessitates a steadily increasing amount of computer power to mine blocks and unlock rewards – that is already in place.
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Aug 07, 2018
When Is the Next Recession Coming?

When Is the Next Recession Coming?

However, we also know that economists predicted 22 recessions out of 11 that took place since 1945. Are there real recession signs we should watch for?Indeed, the answer is yes, and here are a few very important ones: The first one is almost obvious and known to everyone – it is the Fed.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 22, 2020
Central banks have been buying $2.4 billion in assets every hour for the past two months

Central banks have been buying $2.4 billion in assets every hour for the past two months

Some $17.8 billion has been poured into  bond markets over the past week, the biggest move in more than three months.Around $3.5 billion has been invested into gold, the second largest on record. 
Rick Pendergraft's Avatar
Rick Pendergraft
published in Blogs
Feb 07, 2021
Mid-January Short Interest Report Shows 8 Stocks with Good Fundamentals and High Short Interest
Sergey Savastiouk's Avatar
Sergey Savastiouk
published in Blogs
Mar 10, 2021
How to Start Trading Penny Stocks

How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.
Abhoy Sarkar's Avatar
Abhoy Sarkar
published in Blogs
May 08, 2020
US unemployment rate jumps to 14.7%, the highest in series history

US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate.  Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.