Like the Dow and the Nasdaq, the SP500 printed a big Upthrust bar due to the news from the UK. And like the other two, this big Upthrust didn’t take out first the top of the last major range, so to deduce here that this is a major change of behavior that should start a whole bearish market Read More
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The SP500 market showed weakness throughout most of the passing week by staying in the lower side of the monthly range. Even after a clear sign of strength on Thursday, made by a bullish pinbar on the Daily lower Bollinger Band, a thrust up that was made on Friday most likely should have started a bullish Read More
Perhaps the “Dilemma” about the Semiannual bar that is about to close by the end of June mentioned in the last review, and the market being in a 10 points backwardation, have led the passing week to close much weaker. It happened after taking out both April and May Monthly Highs, again, a midterm bullish Read More
The month of June started with an important Monthly HH that took out also the High of April which is also the last Weekly swing High. For the longer term, this thrust is a bullish signal to get to the 2180 area, above the all time high of 2134. In the previous review we mentioned Read More
In the passing week, the Market has changed the picture by 180 degrees, and eventually the break down turned out to be a false break. What usually comes with it, is a major change of behavior. Instead of a sideways action, slowly crawling down trend, the reversal was fast and instantaneous (what makes it very hard Read More
After the shakeout in the first bearish setup (mentioned 2 weeks ago), that followed by signs of weakness, the most important Low before the high (at 2026) – throughout the whole up move since February this year, had been taken out. Unless we see this week contradicting signs of a false break down, and signs Read More
U.S Stocks opened higher Friday as investors remained confident of a possible interest rates hike next month. This comes a day after the S&P 500 plunged to its lowest in two months. The Dow Jones industrial average .DJI climbed 30.75 points, or 0.18%, to 17,466.15, while the S&P 500 .SPX rose 5.09 points, or 0.25%, to 2,045.13. The Nasdaq Read More
Markets were set to open slightly lower Thursday morning following the possibility of a hike in interest Rates by the Fed early June; however much of the losses were cut by better than expected quarterly results from Cisco & Wal-Mart. Wal-Mart shares (WMT.N) rose 8.3% to $68.40 in premarket trading after the reporting 1Q earnings Read More
In pre-market trading, futures are mixed after stocks in Asia traded moderately higher on Monday. The Dow Futures are down -3.00 points to 17,492.0. The S&P 500 Futures are unchanged at 2,043.5. The Nasdaq Futures are lower at 4,321.5, down -2.50 points. The Russell Futures are showing a gain of 1.10 points to 1,101.1. In Read More
The market has lots of patience these days, and part of this kind of behavior is usually expanding the range it is currently in, which also means shaking out existing short term positions. The short position mentioned last week hit the stop level at 2077.75 only to see the prices turning to be weaker again. Read More