Stocks are staying close to highs at 4224, bounded below by 4188. We have seen a great consolidation of volatility and largely ranging behavior for the majority of last week. The Kovach OBV has been completely flat, suggesting that there is not enough momentum to break highs or even test them. Adding inflation fears might contribute to a bearish outlook for...
DLF - Double Inside bar formed in daily. take trade buy/ sell once crosses high / low of mother bar respectively.
Stocks caught a lift from 4188, testing 4214, as we said they would in the last report. The S&P appears to be making a run for highs, however these rallies are very weak with respect to what is needed to break the resistance we will see as we approach highs at 4245. If we do not see this momentum, we will likely retrace back down to 4144 or 4122 unless 4188...
After a brief stint at +$100 levels, this one has returned back to the uptrend line. The heavy sell off was after a once off event where the bankrupt Archegos Capital Management hedge fund was a forced seller. Online streaming services are out for the hunt and after the news broke of Amazon's buyout of MGM, content providers like Viacom CBS could become targets...
Stocks have retraced a bit after encroaching upon the 4214 level. We still believe they are gearing up for another breakout and that 4068 is a bottom for now. We are likely to see either continued ranging here or a further retracement before the breakout. This is supported by a waning Kovach OBV. The levels 4188 and 4178 are providing good support. If these...
Stocks have met resistance at 4214, another one of our levels. They have since leveled off and ranged a bit, finding support at 4188. It does look like we are forming a bull flag at the moment, but it could go either way. The Kovach OBV is still bullish, but has sloped off drastically. We will need another jump start in momentum to attempt higher levels like...
First target was reached 439 after the initial cup and handle formation (green). A flag was build and broke to the upside. Next target is 500.
Possible bear flag developing here. Still early days, but I would keep an eye on this pattern. If the flag breaks to the downside, 350 would be possible once again. I you are a current shareholder I would wait and just watch this pattern rather than pre-empt and sell.
The S&P keeps edging up to higher levels. We anticipated the next level at 4214, and that is exactly what transpired. Broadly, we anticipate some ranging between 4068 and 4245 as the S&P considers making a run for new highs, eventually. Watch for resistance at these upper levels including 4214, 4228, and highs at 4245. We will see support from 4188, 4178,...
Hey Traders so ocasionally I watch other markets related to the Forex and one of them is the S&P 500. I think this is good market to keep an eye on because it can influence other markets especially the dollar and pairs like USD/JPY. So I have noticed that the S&P 500 has been in a long term uptrend with no signs of stopping anytime soon. It looks like it's about...
Molecular Data has plenty of insider holdings, as well as institutional, signifying continued faith in the companies future prospects. The institutional shares at ~16% could pose a selling hazard eventually, as MKD doesn't have history of growth, if the company fails to deliver upon expectations. At the same time, such a large number shows obvious interest for a...
Stocks are finding resistance at 4188, exactly as we had mentioned. We appear to be seeing a sideways consolidation pattern as they potentially gear up for a breakout later. Watch the open, if we do not see momentum, the S&P will reject 4188 like it did last week. It will likely test 4068 if that is the case. we could be seeing a bull wedge forming suggesting...
Reviewing the S&P500 futures ES1! weekly chart... The candlesticks are suggesting some bullish upside to surprise as the tails are at the bottom, when prices are at the top/ATH. The tails keep the index bouyant above the support region (yellow rectangle). This is in contrast to the expectation for a retracement, and instead may extend higher. The volumes are...
Stocks have returned to 4178, exactly the level to which we alerted you yesterday. This and 4188 will provide resistance and the S&P is likely to range for a bit in a sideways correction after last month's rally. The range appears to be bounded from above by the levels just mentioned, and from below by 4068. Watch for it to form a consolidation pattern like a...
Stocks found support at 4068. The S&P made an attempt at a breakout but this was quickly thwarted by resistance at 4122. It looks like we finally found some stability around current levels and may be ranging or consolidating as we gear up for another attempt at a breakout. There is still a lot of down side risk, and the Kovach OBV is still pretty bearish. ...
Stocks found support at 4144, as we anticipated they would. They are currently testing 4178 and 4188, perhaps in the process of forming a bull wedge pattern before potentially breaking out to higher levels. Momentum at open will be critical to achieve higher levels. The Kovach OBV is still struggling to recover from the massive selloff, suggesting that we...
Stocks have recovered much of their losses from the selloff last week. We found support at 4040, over 200 points below highs. The S&P has retraced back to what appears to be a POC at 4188. We appear to be ranging just under this, and will find support from 4144. The Kovach OBV is gradually drifting up but the momentum here is paltry with respect to the...
This is an analysis for a client. Technical indicators showing room for further bearish momentum Bounce before chance of a further drop. Please do your own due diligence. Losses can happen so please understand your risks and investment objectives first.