The Market’s Slow Dance: What Comes Next?

[] next week, things could heat up [] [] [] [] Yesterday, we talked about [the key level to watch]( on the S&P 500 — specifically the 38.2% Fibonacci retracement level (about 5339), and how it could serve as a pivot point for the market's next move. Well, as predicted, the market bounced back up to that level by the end of yesterday’s trading session, and we saw it waffle around there overnight. As I write this, the market is starting to peek just above it. So, where do we go from here? Eyeing the 50% Level Yesterday, I talked about how I like to use Fibonacci retracement levels to help identify potential areas where the market might reverse its trend. After hitting that 38.2% level, the next target is the 50% mark, which is the halfway point between the high the S&P hit back on July 16 and the low it hit just before this past Monday’s open. If we start to creep towards it — and especially if we break out above it — it could indicate that the market is trying to regain some strength. But remember, this is a slow week for news. We didn’t see a lot of economic data or major events, so the market is, and h as been, trading on its own merit this week. That means it’s moving based on sentiment, technicals, and whatever news trickles in. Next week, though, things might start to heat up again. We’ve got some big reports and events on the horizon, including: Monday: • World Agricultural Supply and Demand Estimates Tuesday: • Producer Price Index (PPI) • Home Depot (HD) earnings Wednesday: • Consumer Price Index (CPI) • Crude Oil Inventories • Cisco (CSCO) earnings Thursday: • Retail Sales numbers • Initial Jobless Claims • Philadelphia Fed Manufacturing Index • Earnings for Walmart (WMT), John Deere (DE), Applied Materials (AMAT) and Alibaba (BABA) earnings (and those are just the “big ones”) As you can see, we’ll be going from a lazy news week to one where there are plenty of potentially market-moving pieces of news coming out. So, what does all this mean for us as traders? If the market continues to push through that 50% Fibonacci level, it could be a sign of strength. But with all the data coming out next week, the market won't be trading on its own merit anymore — any one of those reports could send the market flying in one direction or the other. So staying up-to-the-minute and flexible will be key. While the market’s movement this week (not counting Monday) may have been like watching paint dry, next week could give us more excitement. Keep watching those key levels, and be ready for whatever the market throws our way. Stay tuned! — Geof Smith P.S. Weekly income from targeting one of the most stable assets in the market? [See what I’ve discovered here!]( [] [] Yesterday, we talked about [the key level to watch]( on the S&P 500 — specifically the 38.2% Fibonacci retracement level (about 5339), and how it could serve as a pivot point for the market's next move. Well, as predicted, the market bounced back up to that level by the end of yesterday’s trading session, and we saw it waffle around there overnight. As I write this, the market is starting to peek just above it. So, where do we go from here? Eyeing the 50% Level Yesterday, I talked about how I like to use Fibonacci retracement levels to help identify potential areas where the market might reverse its trend. After hitting that 38.2% level, the next target is the 50% mark, which is the halfway point between the high the S&P hit back on July 16 and the low it hit just before this past Monday’s open. If we start to creep towards it — and especially if we break out above it — it could indicate that the market is trying to regain some strength. But remember, this is a slow week for news. We didn’t see a lot of economic data or major events, so the market is, and h as been, trading on its own merit this week. That means it’s moving based on sentiment, technicals, and whatever news trickles in. Next week, though, things might start to heat up again. We’ve got some big reports and events on the horizon, including: Monday: - World Agricultural Supply and Demand Estimates Tuesday: - Producer Price Index (PPI) - Home Depot (HD) earnings Wednesday: - Consumer Price Index (CPI) - Crude Oil Inventories - Cisco (CSCO) earnings Thursday: - Retail Sales numbers - Initial Jobless Claims - Philadelphia Fed Manufacturing Index - Earnings for Walmart (WMT), John Deere (DE), Applied Materials (AMAT) and Alibaba (BABA) earnings (and those are just the “big ones”) As you can see, we’ll be going from a lazy news week to one where there are plenty of potentially market-moving pieces of news coming out. So, what does all this mean for us as traders? If the market continues to push through that 50% Fibonacci level, it could be a sign of strength. But with all the data coming out next week, the market won't be trading on its own merit anymore — any one of those reports could send the market flying in one direction or the other. So staying up-to-the-minute and flexible will be key. While the market’s movement this week (not counting Monday) may have been like watching paint dry, next week could give us more excitement. Keep watching those key levels, and be ready for whatever the market throws our way. Stay tuned! — Geof Smith P.S. Weekly income from targeting one of the most stable assets in the market? [See what I’ve discovered here!]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub](