In today’s briefing:
- Rally Continues Following Breaks in USD & 10-Yr Yield; Buy Ideas in Energy & Consumer Discretionary
- Oracle Corporation (ORCL US): TSS < 10 - Target Tactical 4.0% to 5.5% Decline
Rally Continues Following Breaks in USD & 10-Yr Yield; Buy Ideas in Energy & Consumer Discretionary
- Our Russell 2000 (IWM) and S&P 500 targets for this rally have been the 200-day MAs, coinciding with YTD downtrends.
- The Russell already hit this target while the S&P is closing in, less than 1% away.
- Still, the vast majority of signals point to further upside ahead for the market indexes, and a possible end to the bear market.
Oracle Corporation (ORCL US): TSS < 10 - Target Tactical 4.0% to 5.5% Decline
- Oracle Corporation (ORCL US) has rallied 30% in October/November 2022.
- A new 2 month high of 79.53 was produced on Monday 14 November amid extreme bearish ST momentum failure.
- Our TSS methodology triggered a Trend Sustainability Score (TSS) < 10 at the high and justifies a further 4.0% to 5.5% decline in the coming 1-2 weeks.
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