An early update, because of the importance. I have been advising my followers to short a downside break of 4134.37 This morning the S+P 500 "gapped" completely thru that support from yesterdays close 4154.52 OPENING at 4130.48 and triggering a short term "sell signal" Make no mistake. Buyers will be out today, trying to rally the market back to hold support...
This mornings low in the S+P 500 4134.49, was just above the 4134.37 Sell Signal Trigger Point that I have been writing to you about for days now. The continual nature of the re-test and re-test of that support speaks volumes about it's importance in S+P 500 trading. The technical "expectation" is that the more times a support level is tested, the greater the...
30 Minute Chart of the S+P 500 on Tuesday April 18, 2023 reveals two "key" technical identifications. First:. The Technical Pattern is one of a "rising triangle", almost perfectly symmetrical, off the March 13 Low of 3808.86, with the longer base trend line rising steadily higher, the longer line being the "dominant" line ...
Friday's late afternoon 25 point afternoon rally, and carrying forward into this morning's trading shows how important the market perceives the S+P 500 Support level of 4134.37 is right now. I have written about the importance of this level last week on tradingview.com Hers's the shot. And really don't overthink it, or downplay it's utter price simplicity. It...
Early update today, because of scheduling, the S+P 500 triggered a Short Term "Buy Signal" on April 13,2023 by rising above, and then closing above the "hang point" high of 4134.37 from April 12,2023. As long as the S+P 500 remains above 4134.37, the buy signal will remain intact. The upside advance is being confirmed by the KST Indicator, and the Decline of...
Looking for the VIX to support today's rally technically ? The answer is yes. It's trading down almost 5 % today, on the back of a "weaker than expected" Producer Price Index, down 0.5 % in March. Upon closer analysis, the VIX climbed to 19.98 on CPI Wednesday April 12 rising right up to the "Fear/Greed Median Support/Resistance Line of 20.00 Since then, however...
It appears that traders took the bait this morning, and jumped on the bandwagon all together now after the March CPI, came in at .1 % , a 5% annual increase, year over year. That still is well above the 2 % rate of inflation, that the Fed is trying to "get back" to by raising rates to catch up with 5 % "real " US inflation. But you see, the market knows all...
Positioning for tomorrow morning's release of the March Consumer Price Index, traders have "coiled" the S+ P 500 into a pattern in which price can break either way,on Wed April 12 Simply put.... There is a bullish "Triple Bottom" at the 4070 area on the 10 Day/ 30 Minute Chart and that is driving " money" to buy the market today. Conversely, there is a...
Short Term Pattern in play on the 30 Minute S+P 500 Chart reveals the "potential" for a bearish Head and Shoulder's" REVERSAL Short Term Pattern Support is clearly at the April 6 low, 4069.84. You can see the obvious upside breakout occurring in the KST Indicator ( Shown Here), so any bearish breakdown would be a considered a "counter trend" move in the...
For traders, this 3 Day holiday weekend brings an extra-degree of "risk" to the table. Stock Markets are closed for Good Friday, the same day that the March jobs report is released, promises to bring volatility to next Monday's stock market trading. This mornings S+P 500 low at 4069.84, could be an "important low" short term with it coming off a strong value...
The US stock market continues to lack follow thru. When an upside breakout is "threatened", sellers move in and push price right back down to support, where short term buyers step in, and try to push prices higher again. But little is accomplished. Trading volatility continues to rule the day. Nothing decisive in either direction. It appears the market is...
When observing financial markets, it is important and necessary to look across the globe every day for market developments that can materially effect world economies as a whole. Today's sharp continuation breakout in June 2023 Gold Futures, traded at the COMEX, New York Mercantile Exchange merits your attention. It's rise is reflective of "escalating" world...
S+P 500 has "continued " it's "rising trend triangle breakout this morning, although the rally is now being met with sellers. The upside move ,confirmed by the KST Indicator, (Shown) is sparked by the rise in crude oil US futures above $80 with money moving into the energy stocks today, after OPEC agreed to surprising production cuts their meeting this...
With the end of the month,and the end of the first quarter of 2023 today, just a simple glance at the S+P 500 Chart shows a distinctive "rounded bottom formation", traced out this month around the banking crisis, with a chart breakout of the "Triangle of Indecision" this morning above 4060, with the "bullish implication" that the S+P 500 could soon challenge...
I use the KST Indicator each day in my trading to either confirm, or get non-confirmation of trend bias. You can find the KST Indicator on most technical indicator platforms and importantly, it can adjusted to any time frame analysis you choose. The KST Indicator Chart for S+P 500 is included with my Daily Update,each trading day here on tradingview.com For...
Stocks gapped up this morning, with the SPX continuing the "banded back and forth chop" this time rising to challenge its 50 Day Moving Average at 4013.83, at the upper resistance point of the trading band. A couple of bullish "technical indicator " signals supporting those looking to "buy into" today's rally. 1.KST INDICATOR has "Crossed" on a negative...
Ever since the banking crisis earlier this month, the financial's, anything to do with measuring the "immediate intrinsic value" of cash and liquidity have become the end- all for US stock market, in lazar like focus. Two ETF's that completely illuminate on the above theme very closely and should be followed Daily for overall market clues. 1. PFF I-Shares...
Friday's March 24,2023 rally, off the opening low of 3909 , holding the 200 Day Moving Average at 3932, and then rallying back all the way back above SPX 4000, for an almost 100 point snap-back in just two days, has caught a lot of traders in an uncomfortable position of "not knowing what to do next". Certainly the rally "defined "a short term capitulation...