S&P Broke Key Support But Downside Risk Could Be Limited
S&P fell below the important sentiment 3800 mark after climbed above it last week. While seemingly vulnerable to further short-term weakness, support is strong between 3725-3700. That zone is too...
View ArticleS&P Vulnerable To Short-term Setback
S&P developed a high volatility with fast up and down moves near the lower boundary of the red band. While market seems vulnerable to some downside retracement over the short-term, we’re long-term...
View ArticleS&P Held Support But Follow-through Is The Key
S&P tested and held support at the lower boundary of the pink band. While Tuesday’s rally had improved the posture of our short-term indicators, which supportive of further upside probing,...
View ArticleBuy The Dips Remains The Most Profitable Strategy
while overbought condition is likely keeping buyers at bay, the overall technical backdrop remains supportive of further advance. As for strategy, pullback will present a buying opportunity, while...
View ArticleS&P Overbought But Downside Risk Limited
while overbought conditions might put a cap on the upside the overall technical backdrop remains supportive so downside risk could be limited. As for strategy, traders should look to increase exposure...
View ArticleS&P In Bullish Digestion Period
the big picture remains the same. There is a consolidation near the trend channel moving average, which represents a digestion period in the aftermath of the late 2020 epic rally. While more backing...
View ArticleS&P In Short-term Reflexive Bounce
S&P rebounded nicely after recent pullback found support near the green band. Our near-term work on price structure and momentum suggested that the index is in a short-term reflexive bounce....
View ArticleS&P Spinning Top Pattern Signals Impending Trend Reversal
the spinning top candlestick pattern in the S&P together with negative Money Flow measure suggested that market is at or very close to a significant near-term top. Near-term risk is to the...
View ArticlePath With Least Resistance Remains Higher
there is currently a test of resistance at S&P\s 4000 zone. While more backing and filling would not be a surprise, the overall technical backdrop remains positive. So it seems to us that the path...
View ArticleS&P Broke Short-term Downward Trend
Friday’s rally pushed the S&P above the lower boundary of the pink band, signify a bullish breakout and upside reversal. Nevertheless, return of overbought conditions on an intraday basis might put...
View ArticleS&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to hold above 4100 this week, then the next stop will be 4000 with the possibility of a brief breakdown below that level
View ArticleS&P In Orderly High-level Consolidation
the big picture remains the same. There’s an orderly high-level consolidation period near S&P’s 4200 zone. The overall technical backdrop continues favor the bulls so we believe that any dips are a...
View ArticleTraders Should Consider Buying Downside Protection
the fact that the S&P is overbought as it tested key price level that had been successful in repelling price action in the past suggested that upside gains could be limited. As for strategy,...
View ArticleS&P In Rally And Retreat Trading Environment
our near-term works on price structure and momentum suggested strongly that the S&P remains in for a ‘range-bound’ trading environment. This is a rally and retreat environment. It is not a trending...
View ArticleS&P’s 4200 To Act As Price Magnet
although the return of overbought conditions on an intraday basis is keeping buyers at bay, S&P’s 4200 continues to act as price magnet. Short-term traders can anticipate increase short-term...
View ArticleS&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to climb above 4200 this week, then the next stop will be 4100 with the possibility of a brief breakdown below that level
View ArticleS&P Rally Attempt Failed at Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to hold above 4170 this week, then the next stop will be 4120 with the possibility of a brief breakdown below that level
View ArticleS&P At Key Juncture
S&P is at key technical juncture. Current rally is testing formidable resistance at the prior high set in early May. The longer the index stays below that level, the more vulnerable it is to lower...
View ArticleS&P Rally Attempt Failed Near Formidable Resistance
S&P rally attempt failed at formidable resistance. If the index fails to hold above 4240, then the next stop will be 4200 with the possibility of a brief breakdown below that level
View ArticleLook To Reduce Exposure Into Intraday Bounces
S&P fell below the trend channel moving average, the level that offered support since the index reached an interim low in late 2020. Market internal deteriorated following selloff suggested that...
View Article