Stocks rallied all last week, in the proverbial 'Santa Claus Rally'. The S&P 500 bottomed out at lows at 4545, and spanned almost two full handles since then. Currently, we are ranging just below highs. The Kovach OBV has completely flattened. The fact that we are near highs, have little momentum, are close to the end of the year, and are still grappling with...
Stocks have sold off hard, as we warned yesterday. This is a typical risk as stocks had just barely eeked out highs, and more momentum was necessary to sustain the rally. We have retraced significantly, but still within our projections from yesterday. The S&P 500 has given up the 4700 handle, and is currently seeing support from a cluster of levels in the mid...
Stocks showed weakness going into the FOMC meeting, but despite the hawkish outlook: tapering and 3 rate hikes in 2022. The markets have totally priced this in, and as a result stocks rallied to new highs. We anticipated stocks to rally for this reason, but the extent of the rally was formidable. We have punched through 4729, and are heading toward our next...
Stocks dipped further into negative territory as we antipated yesterday. The S&P 500 briefly dipped into the vacuum zone we identified between 4632 and 4580, but it was able to recover quickly, and is currently clinging to support at 4632. We are seeing several green triangles on the KRI, suggesting support is forming. We anticipate stocks to range a bit before...
Stocks took a sharp dive from highs as we predicted yesterday. We anticipated this because the S&P 500 was maintaining an extremely narrow range at highs, from which we would have required significant momentum to break out. We simply didn't see that, and the risk sentiment turned south later in the day, hence the selloff. We first saw support from 4668, then...
Stocks have edged up to highs, hitting our exact level at 4729. The level 4668 provided good support on Friday's small retracement. The Kovach OBV is drifting higher, but this indicator seems weak with respect to the rally, and so we anticipate some resistance at these highs. If we do retrace then 4693 and 4668 should provide support. If we are able to break...
Apple had a flag breakout on Friday as the price closed at new highs. The move also triggers the breakout from the cup formation which was ongoing since many days if seen with another perspective. With equities getting sold quite sharply in the last week a bounce is expected along side the technical breakout.
Netflix has been moving in a channel lately. It has hit the bottom of the channel and is expected to move back towards the top again giving a long opportunity.
Stocks have been subtly trending downward after topping off just under highs at 4729. The 4700 handle did not hold very long and we quickly declined back to comfort in the 4600 handle. We are currently seeing support at 4668, and have a long way to go to retrace this rally, should momentum peter out. The Kovach OBV has flattened as we await CPI data. Watch out...
Stocks seemed to have topped off just below highs. Persistent risks like the impending Evergrande default, Fed tapering, and Omicron seem to be completely shrugged off. However we do appear to be in a sideways correction between 4668 and 4729. We are seeing both green and red triangles on the KRI corresponding to the upper and lower bounds of this range and...
Trend Analysis The main view of this trade idea is on the 4-Hour Chart. The S&P 500 Index is now 9.6% higher off the 4300 lows in early October 2021. Currently the index is in a rangebound movement between the 4630 and 4718 price levels. Expectations are for the index to breakout. Given the width of the rangebound movement, the S&P Index should rally towards...
Paypal has been trending on the downside since last many days, it has finally given a flag breakout. With equities getting the interest back as the new variant concern fades Paypal looks a good buy at these levels.
Stocks have rallied for two straight days, breaking through several levels of resistance. We have spanned almost two handles, from 4500 to 4600, and are facing resistance just below 4700. In particular, we are starting to see the price action round off around resistance at 4693. The Kovach OBV has turned up notably, but appears to be rounding off with the price...
Hi everyone: Tesla broke all time highs and hits $1000. In June I posted and mentioned about the next bullish impulse phase is likely to happen once a continuation correction is finished. Price indeed impulse up after, and now it above all time highs. This is good for further upside potential. What the market is likely to do now is fall into another...
Stocks got a lift yesterday as investors turn hopeful again after Omicron fears subside. We broke resistance at 4580, and crossed the vacuum zone after that to 4632. Currently, we are testing higher levels, 4652 in particular. This is a relative high, and area with which the S&P has had some trouble in the past. The Kovach OBV has picked up notably, however. ...
Stocks are edging lower in a zig zag pattern as every rally seems to get sold off. We have more risk off sentiment in the markets as Evergrande takes its turn as the center stage of fear stoking news. Evergande shares have tumbled as another debt payment deadline looms. We saw strong resistance from 4580, but rejected this, as confirmed by a red triangle on the...
Stocks have attempted a meager rally, as news of the Omicron strain and Fed tightening seems to have been digested by the markets. We do have non farm payrolls data coming in at 8:30 AM EST, which is one of the biggest trading data points, so stocks are likely to hold off in anticipation of the results. This is a particularly meaningful reading, as investors...
As forewarned, the Leading Indicators were previously pointing to a burn out, and now half of the leads are burnt. JNK and VALUG are bearish, as are TLT and VIX indicating bearishness. IWM, TIPS, and DJT have failed any bullish indication, skewing towards bearishness. The S&P500 futures are at support now... likely to break down, even for the beginning of a...