Category Archive

Trend bullish – Expect rally up to SPX 4325 before possible minor stallout;  Pullbacks should be buyable when they occur for additional strength in June. A continued broadening out in US Stock indices is occurring, with Mid-caps now joining Small-caps in exceeding key resistance.  Thus, the former “Large-cap only” rally is now giving way to both small and mid-cap strength, …

Trend bullish- Expecting that SPX-4325 might prove temporary stopping point only and pullbacks should be buyable for rally into late June A few important technical developments occurred over the past week that are worth mentioning: First, SPX got back over the 4200 level and proved to be a more broad-based rally, as breadth indicators strengthened.  Second, Equal-weighted S&P 500 broke …

Trend still bullish, SPX is expected to push up to 4235-4275, before consolidation sets in; Under 4048 required to turn trend bearish “It was the best of times, it was the worst of times”  Charles Dickens opening to “A Tale of Two Cities” is appropriate for this market.  In this case, “ A Tale of Two markets” is more apropos. …

For full report, please click here. Conclusions A Few Warning Signs to heed into late May

Trend still bullish- Expecting upcoming push back above SPX-4200 -Any break of 4104 would turn trend short-term bearish Technology yet again has begun to dominate market performance and has begun to camouflage some of the weakness being seen in other sectors. While NVDA results resulted in strong upside performance for Semiconductor stocks, market breadth finished at more than 2/1 negative, …

Trend still bullish-  Expecting upcoming push back above SPX-4200 – While the two-day plunge might have seemed overly bearish to some investors, it failed to violate key support and until 4098 is broken at a minimum (with 4048 having even more importance) trends remain positive from March lows, and should push back up above 4200. Real Estate, Financials, Industrials, Technology …

Trend still bullish – Expecting upcoming push back above SPX-4200 – Tuesday’s minor pullback hasn’t caused much technical damage.  While prices did pull back to multi-day lows, this area of support near 4140 lines up with the uptrend from early May along with the initial peaks of the first rally off early May lows. (5/5-5/15). Five sectors fell more than …

Trend bullish- Expecting upcoming push back above SPX-4250 to 4275-4325 Monday brought about a minor stallout ahead of the post market close Debt ceiling discussion talk which is tentatively scheduled for 5:30 pm EST on 5/22/23. Given last week’s bullish price action, constructive sector rotation (recovery in Financials along with a deterioration in defensive groups like Consumer Staples and Utilities) …

Trend still bullish- Expecting upcoming push up to SPX-4250-4325 into 5/27-28 Friday’s reversal isn’t too meaningful and generally the SPX breakout should extend higher into next week into 5/27-28.  This is a time where Elliott-wave, DeMark, and two different cycles come together to show a high likelihood of a turn, which I expect could be a high. SPX likely rallies …

SPX Trend bullish but might encounter resistance at 4235-4250 and maximum lift to 4325 before consolidation sets in. Wednesday’s breakout wasn’t noticed by many, but set the stage for Thursday’s strong push to new highs for 2023. As noted, several developments happened early in the week that prepared us that the path of least resistance might be higher. Initially, Technology …