S&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to hold above 2766 this week, then the next stop will be 2700 with the possibility of a brief breakdown below that level
View ArticleAnticipate Increase Short-term Volatility with Rapid Up and Down Moves in S&P
although overbought condition is keeping buyers at bay, the overall technical backdrop remains supportive. Short-term traders can anticipate increase short-term volatility with rapid up and down moves...
View ArticleS&P’s 3000 is the Line in the Sand
recent trading actions leaving the S&P in what looks to us like a back-and-forth consolidation of the June rally. This week’s correction is testing support at the lower boundary of the pink band....
View ArticleS&P in a Midst of Oversold Consolidation
our near-term work on price structure and momentum suggested that the S&P is in a midst of an oversold consolidation, which represents the digestion period in the aftermath of last week’s massive...
View ArticleS&P in Consolidation Phase Prior to New Upswing
several key technical indicators suggest that S&P is in a midst of a short-term consolidation phase. The fact that the index managed to hold on to most of recent gains, indicating an internal...
View ArticleBuying Into Short-term Market Dips Remains The Most Profitable Strategy
the big picture remains the same. There is an orderly pullback consolidation, which represents digestion period. As for strategy, buying into short-term market dips remains the most profitable strategy
View ArticleMarket Internal Deteriorated as S&P Fell Below 3000 But Downside Risk Could...
market internal deteriorated as S&P fell below the important sentiment 3000 mark. While seemingly vulnerable to further short-term weakness, downside momentum does not appeared strong enough to...
View ArticleS&P’s 2948 is the Line in the Sand
the big picture remains the same. There is a consolidation near the trend channel moving average, which represents digestion period. S&P’s 2948 is the line in the sand. A failure to hold above that...
View ArticleS&P in Orderly Consolidation Phase
we wouldn’t look too much into Wednesday’s trading action because it keeps the S&P within its short-term consolidation phase. While further backings and fillings is expected, the fact that the...
View ArticleOverbought Conditions Returned on Daily Basis But Momentum Remains Supportive
overbought conditions have returned on a daily basis but momentum remains supportive so downside risk could be limited. It is possible that S&P could continue to drift higher as trading sentiment...
View ArticleS&P Overbought But Momentum Remains Supportive
while overbought is putting a cap on the upside the overall technical backdrop remains supportive so downside risk could be limited. It is possible that S&P could continue to drift higher as...
View ArticleS&P Overbought but Downside Risk Could be Limited as Momentum Remains Supportive
market is overbought following recent advance. Nonetheless, Money Flow measure and momentum remain supportive so downside risk could be limited. It is possible that S&P could continue to drift...
View ArticleS&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to climb back above 3300 this week, then the next stop will be 3200 with the possibility of a brief breakdown below that level
View ArticleS&P Tests Support Turned Resistance
Monday’s recovery rally is testing ‘support turned resistance’ near S&P’s 3280. The short-term technical backdrop remains bearish. The longer the index stays below that level, the more vulnerable...
View ArticleMarket Internal Deteriorated As S&P Tests Key Support
market internal deteriorated as S&P moved down to test support near the 3320 zone. A failure to hold above key price level means that long-term buying pressure has finally been exhausted. On...
View ArticleS&P In Bottoming Process
divergence starts showing up as markets are going through bottoming process. Our near-term work on momentum and price patterns suggested that the S&P likely hit its bottom on Monday. Near-term,...
View ArticleExpect Continue Near-term Volatility As Bottoming Process Unfolds
it seems to us that S&P found some footing near the late March breakout point. This is a positive development that could allow for at least another rally attempt in the coming days. However, given...
View ArticleExtreme Oversold Relief Rally Could Take S&P Closer To 2900 Before...
Wednesday’s rally pushed the S&P up against the formidable resistance near the 2750 zone. As for strategy, we’d look to reduce exposure into short-term strength, which might take the S&P closer...
View ArticleS&P In Digestion Period
there is a consolidation near the trend channel moving average, which represents digestion period. S&P could signal a downward trajectory, depending on how it closes tomorrow. A close below 2760...
View ArticleTraders Should Look To Buy Downside Protection
it seemed to us that traders are committed to take the S&P up to the important sentiment 3000 mark. Nonetheless, the fact that Money Flow measure remains negative as prices ascending does not...
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