WadeYendall

WadeYendall Updated 

Summary • Bias remains Bearish • Enter the week after broad market sell off after CPI print. Higher than expect inflation #s • S&P finished last week down 5.03% dropping 115 points on Friday • Weekly narrative will be dominated by Fed rate decision Wed • China locking down again. • Oil holding in the 120 range • All asset classed now showing weakness. Stock,...

WadeYendall Updated 

Summary • Bias remains Bearish • Enter the week after broad market sell off after CPI print. Higher than expect inflation #s • Nasdaq finished last week down 5.44% dropping 683 points on Friday • Weekly narrative will be dominated by Fed rate decision Wed • China locking down again. • Oil holding in the 120 range • All asset classed now showing weakness. Stocks,...

WadeYendall Updated 

Here are the levels for the Nasdaq 100 going into the trading week of June 6th - June 10th. Levels above current price act as resistance. The level below current price are support. Currently price is consolidating above the 9/21 ema cloud just below the Neutral box. If price breaks back into the Neutral box expect first resistance at the 55 ema. Above that the top...

WadeYendall Updated 

Here is a look at the key levels for the S&P going into the trading week of Jun 6th - June 10th. The levels above the current price are expected levels of resistance. The levels below current price are expected levels of support. Price starts the week inside the Neutral and just below the 55 ema. If price can move above the 55 expect move up the top of the Neutral...

WadeYendall Updated 

Here is the weekend look at the Nasdaq 100 going into the trading week of May 30th - June 3rd. Switching to a point form format to speed up the posting process SUMMARY • Positive 7.0% move last week • 1st Weekly close above the previous week’s high in 8 weeks • Move made on relatively low volume. • Move made at the long term 382 Fib Retracement level and...

WadeYendall Updated 

Here is the weekend look at the S&P 500 futures going into the shortened trading week of May 31st - Jun 3rd. I have switched it to a point form format to speed up the posting process. The overnight session has shown some weakness going into the cash session. Potential pull back to the bottom of the Neutral and 21 ema. Use last week's close as the bull/bear line....

WadeYendall Updated 

The S&P 500 closed down 2.99% last week for the 7th consecutive time, but price did not make a lower weekly low for the first time in 7 weeks which may be significant. The S&P flushed below the previous week’s low but managed to rally 90 points on Friday. Price opened the week approximately 2.2% off the May 20th low and 18.9% off the ATH which kept the S&P above...

WadeYendall Updated 

Last the Nasdaq closed down 4.38% from the previous week’s close. This was the 7th weekly negative close, but it is worth noting the weekly close did not make a new weekly low closing approximately 137 points above the May 12th low. This kept the double bottom pattern intact to close out the week which may prove to me significant. My bias remains bearish,...

WadeYendall Updated 

The Nasdaq closed down for the 6th consecutive week dropping another 2.47%. At one point the Nasdaq had dropped almost 8 % from the previous week’s close when it made a low on Thursday dropping as low as 11689. The week closed on a positive note, however, rallying 435 points (3.65%) on Friday. The bottom on Thursday reversed almost exactly at the 1.618 fib...

WadeYendall Updated 

The S&P closed down for the 6th consecutive week. It closed on Friday down another 2.4% and is now 16.4% off the ATH. The S&P dropped almost 6% at one point during the week making a low of 3855 on Thursday. Priced closed the week on a positive note, however, bouncing 2.36% on Friday. Price now sits 4.1% off the recent low, but still below the 9/21 ema cloud and...

WadeYendall Updated 

Here is a quick look at the S&P going into the week of May 9-13. This is short write up as I have a busy schedule right now. The S&P rallied into and right after the FOMC meeting, but reversed hard the following day after traders fully digested the reality of the Fed no longer having their backs. The S&P closed down for the 5th consecutive week. On the positive...

WadeYendall Updated 

Quick look at the Nasdaq 100 for the Week of May 9-13. Just a limited write up this week as I have a busy schedule right now. Last week the Nasdaq rallied into and immediately after the FOMC meeting on Wednesday, but the initial positive reaction was reversed on Thursday as reality set in that the accommodative Fed was gone. The Nasdaq closed once again at the...

WadeYendall Updated 

Last week the Nasdaq finished the month of April down 13.56% after closing 3% or more lower for four consecutive weeks in a row. The Nasdaq closed on Friday 141 points below the March 15th low at 12802.5 dropping 602 points on the final trading day of April. This marked one of the worst monthly losses for the Nasdaq on record. Price made 3 consecutive 600+...

WadeYendall Updated 

The S&P finished the month of April down 8.90% after trading in a wide 3% range over the course of the final week. Price dropped 2.85% on Tuesday, rallied back almost 4% on Wednesday and Thursday only to get rejected at the 9 ema and finish the week on Friday down a painful 3.64% on the day. Price closed at the low of the week just 25 points above the Feb 24th...

WadeYendall

I'm always watching ARKK as gauge of growth stocks in general. ARKK is now back to it's 1 year range from 2018. I see the red box as covid excess that was a once in a life time event. Yields have now risen back to 2018 levels (10y @ 3%) so much of the excess has been flushed out. With this in mind we are getting close to a point where it may be safe to start...

WadeYendall Updated 

Watching for a potential breakout on this after Buffet news. Would prefer to see a touch at the high and then a pull back and some consolidation before the break. Targets = fib extensions. Not interested anymore below the tan box.

WadeYendall Updated 

There potential for a decent bounce if the 2500 level can be reclaimed. If not the next level down would be 2300. Below that a move to 2000 would be possible.

WadeYendall

36 has been a key level for the VIX often leading to nice bounces in the broader indexes.