Primary Chart: S&P 500 (SPX) as represented by SPDR S&P 500 ETF (SPY)
1. SPX and Recession
A recession is exceedingly likely in the near future. It could officially begin next month or in 4 months. But does that mean bears should be rewarded by a straight-line decline to new lows? Sadly not.
Unfortunately for market participants, the S&P 500 S&P 500 (...
Primary Chart: AAPL's Four-Month Triangle with Various Trendlines and VWAPs
SUMMARY:
AAPL's longer-term charts show a symmetrical triangle arising from the convergence of a down trendline from January 2022 (dark blue) and an up trendline from March 2020 lows (also dark blue). This triangle appears to be in the process of breaking on arithmetic charts.
When...
Primary Chart: Several NDX / QQQ Trendlines and Multi-Year Support Zone at $254-$267
SUMMARY :
The downtrend has resumed since the consolidation pause in the days leading up to the FOMC presser on September 21, 2022.
Shorter-term targets include June lows at $269-$270, and if June lows are violated, the next target range is $254-$267 on QQQ, which equates...
Primary Chart: NDX's Critical Support Levels Include a Two-Month Upward Trendline, Fibonacci Levels, and a Key Price Zone (Teal Box)
The Nasdaq NASDAQ:NDX approaches critical support this week as indices give back gains from the recent rally. The most immediate support has already been reached—see the teal-blue rectangle showing a major zone of price support...
