The S&P closed up 3.18% from Monday’s open to Friday’s close. A gravity defying breakout has taken price from the middle of the weekly balance range and hardly closing over the moving average stack to new all time highs in a matter of three explosive sessions higher. Trend is undeniably up having set a brand… Read more »
The S&P closed up 0.3% from Monday’s open to Friday’s close. Trend has flipped from down after setting a lower low on Wednesday, back to neutral on Friday with the reclaim of the prior gap as well as the moving average stack. While this may seem frustrating lets just remember back to the end of… Read more »
The S&P closed down 1.09% from Monday’s open to Friday’s close. Price is now in a downtrend having produced a lower low on Thursday’s gap down, which is still only partially filled. Most importantly price is failing to hold above 739.65, the Korea gap level. Price is below the key 20 and 50 simple moving… Read more »
The S&P closed up 0.83% from Monday’s open, but most importantly, closed on a new higher high in the daily trend count after setting a daily higher low on Wednesday above the 50 SMA and gap level. The trend is finally back to up, and we’re trading above all key moving averages. Markets this week… Read more »
The S&P closed up 1.12% from Monday’s open, marking substantial structural progress, finishing the week above the June 23rd gap. This is impressive considering that markets started to show some cracks into the end of the week, especially across AI, memory, and semiconductor names. Meta is having all sorts of issues with AI and as… Read more »
The S&P closed down 2.38% from the prior weekly close after suffering a gap down on Tuesday and being unable to rally back through the loss. The trend has flipped to down via the lower high and lower low that was brought in under 739.65. Price failed on Monday to breakout and sustain over the… Read more »
The S&P retraced the entire Monday gap, closing down 0.68% from Monday’s open, but technically up 0.68% from the prior week. The trend has flipped from confidently up, to more neutral with the potential for both a lower high as well as a higher low. Supporting evidence still leans mostly bullish and if buyers can… Read more »
The S&P has finally achieved a peak to trough decline of 5% which typically happens about 3 times on any given year. In doing so, the market has set a lower low which changes the daily trend count to down. The biggest argument the bears have from here is to call for a lower high… Read more »
The S&P had a peak to trough drawdown of about 3.25% last week, making a new all time high and yet closing near prior two week balance range lows after Friday’s rout. This is notably a character change from the market which had been finding relentless dip buyers on prior gap downs. Some are crediting… Read more »
The S&P closed up 0.86% last week, making a new all time high and breaking out of a two week balance range. (weekly bars superimposed) The market on close rebalance to end the month of May caused quite a bit of noise across individual equities, however at the index level, note Friday still produced a… Read more »