The double bottom that the S+P 500 put in today near 4260, now opens the real possibility of a price breakout above 4300 and then above the 4325.28 Aug.2022 Monthly Chart High (Shown Here) Monthly Charts are most important (except for yearly charts) in determining genuine price breakout/breakdown. The famed technical analyst Martin Pring uses monthly chart...
A Double Top at SPX 4300. has reversed the stock market's rally, at very important intermediate chart resistance. Note the new Sell Signal in the 15 Minute KST Indicator, which is making new period lows today. The market is now probing for a potential double bottom near SPX 4260. Note; The blackened skies around New York/Connecticut this afternoon, ...
The breakout came to the upside. There were so many expecting it to collapse. And of course, to students of market history,.. it did the exact opposite. Some very smart people,who gathered all the evidence, were completely fooled It should not have been a surprise. Because you are witnessing a market that is a runaway train. Do you know what that means...
KST BUY SIGNAL ! @ SPX 4180 ( See 15 Minute Indicator Chart ) BULLISH REVERSAL ! WHIPSAW ! BEARTRAP ! VIX DOWN 13 % ! Bearish SPX Chart Breakdown MAY 31,2023 Now an Important Bottom 4166.15 The Market will mow down the "obvious" Trading ultimately is a very risky business. BUY STOP AND REVERSE to SHORT on a move back down thru 4180 ! 3PM SPX OPEN...
The bullish breakout in the S+P 500 on a potential US debt agreement rising above the Feb.2,2023 High of 4195.44, has turned bearishly "false", and price is now dropping sharply from the 4231 High at the Open on Tuesday May 30. This reversal of fortune has not surprised bearish traders who had compiled a list of bearish technical divergences on the rally from...
Traders took the very bearish looking15 Minute S+P 500 Chart, from earlier this week, ( Shown Here) and have turned it on it's head, sharply reversing price to the upside as I had advised you earlier was a real possibility. The stock market rally occurring over the last 48 hours, as a framework for a debt ceiling compromise by US legislators has been outlined...
The chart illustration is that of the 15 Minute S+P 500 Chart, real time. I wanted to show you this chart unabbreviated with no indicators for one reason. This is a classic textbook bearish rollover pattern unfolding before your eyes. Those who caught this pattern early have already reaped a handsome return. And the thing is,.. there's still time right now to...
Gaps have "significance". Technically they show that buyers, in this mornings case have lost price support, where they previously had made a stand, SPX 4180. This violation comes on the continued" stall" in US debt negotiations. The market is beginning to become impatient. Notable financial risk here is that someplace out there a financial crack could suddenly...
Pessimistic traders, along with the serious self appointed market experts who claim to know where the market is headed next, are finding their pessimistic and premature short positions beginning to go "seriously under water" that's what the market does, as the S+P 500 is threatening an "intermediate technical upside" breakout above 4200. With uncertainty...
Note the Short Term Rollover Sell Signal in the KST Indicator S+P 500 15 Minute Chart this morning. Home Depot's earnings shocker, has sent the Dow down 250, while the Nasdaq 100 continues to rise methodically in a perfect symmetrical triangle. Thus,a tale of three different markets, all acting in a way that causes traders the "most amount of second guessing...
This opening rally to SPX 4154.28 this morning on the better than feared CPI for April at 4.9 % Annual, has all the footprints of a "blowoff top". The S+P 500 Futures "Weekly Continuous Chart" that I keep going back to 1995, shows this mornings ES High of 4173.25 peaked right in the "significant" multi week resistance area on the long term chart. Be careful, as...
This commentary was posted by "Depth Charge" on wolfstreet.com May 8,2023 "Jerome Powell ( US Federal Reserve Chairman) is peddling a fantasy. Every single word out of his mouth about inflation has been wrong. He is a practiced liar,who is destroying the financial lives of all but the most wealthy. And he and his cohort continue unabated. The longer this...
This market commentary was penned by William Leake and posted today on wolfstreet.com "I am firmly ensconced in Treasuries,so this whole sh_tshow is entertainment. The twists and turns, experts talking like they know anything, the almost daily disasters, the liars, the idiots, the con men , the government bullsh_t As for Powell ( US Federal Reserve Bank...
With this morning's gap down, Monday's May 1,2023 entire trading range in the S+P 500 has become an "island". That includes all price between 4186.92 and 4164.42 ( See Chart) Technically that is a very bearish overnight occurrence, and it is revered to as an "island reversal" in technical analysis. Readers of my Daily Update on May 1,2023 Column were...
Note the "short term sell signal" rendered this morning by the KST Indicator on the 15 Minute S+P 500 (Chart Included Here ) Upon looking, you can "see" the KST crossing and then rolling over, PRIOR to the SPX price peak of 4182.74 this morning. You had a clue the rally might not last There was an obvious bearish divergence setting up in the...
Done around better than expected "high tech" earnings, from "fang" stocks like Facebook and Alphabet, the S+P 500 "bear trapped" traders who were looking for follow-thru on the triangle breakdown of 4100. Buying the dip just above prior triangle support at SPX 4070, traders have gunned price back above important prior resistance at 4134 this morning, which...
Note this mornings chart rollover" from 4134, the support area for the S+P 500 that I have been telling you about proprietarily seen here on the 15 Minute Chart. "Confirmation Signal" of the short term SPX drop is seen in the "Bearish Crossover "of the KST Indicator, which has also topped "below a previous top"and now has rolled over to confirm. (Note the KST...
In "very indecisive" trading around support at SPX 4134, the S+P 500 15 Minute Chart shows "clues" that point out out why the market is not falling hard yet, after a perceived "rising triangle breakdown" (Chart Shown Here) The 15 Minute KST Indicator has crossed to the upside, and is on a short term " buy signal." (Indicator Shown Here) And after having broken...