Cautiously Optimistic
Wednesday’s bullish trading actions had helped putting the bulls back into the driver side of the market. However, given the looming resistance near the lower boundary of the green band, or 4300 zone...
View ArticleS&P Shifted to Consolidation Mode
an overbought pullback consolidation interrupted the March recovery rally in the S&P. Although seemingly vulnerable to further short-term weakness, the overall technical backdrop remains positive...
View ArticleS&P Could Continue To Drift Higher As Sentiment Remains Strong
overbought conditions have returned on an intraday basis but momentum remains supportive so downside risk could be limited. It is possible that S&P could continue to drift higher as trading...
View ArticleS&P Testing Support At The Lower Boundary Of Its One-week Sideways Trading Range
S&P moved down to test support at the lower boundary of its one-week sideway trading range, around 4380, after falling below the trend channel moving average last week. Right now the most...
View ArticleS&P Established Important Near-term Low
our near-term work on price pattern and momentum suggested strongly that an important near-term low has been established and the S&P is in a early stage of a short-term oversold bounce. However,...
View ArticleS&P Extremely Oversold But Rebound Could Be Limited
S&P is now extreme oversold following Monday’s massive selloff. Right now the key is how the market reacts to current oversold condition. If the bulls aren’t able to throw in a good oversold party...
View ArticleS&P Sees Strong Support Near 4100
while several short-term indicators are pointing toward further weakness, the fact that S&P continues basing sideway using the neckline of the 2-month W pattern, around 4100, as support as it works...
View ArticleS&P In Oversold Rebound
S&P rebounded nicely after recent pullback found support at the lower boundary of the green band. Nonetheless, Money Flow measure is below the zero line, indicating a negative net demand for...
View ArticleS&P Near-term Technical Backdrop Remains Supportive Of Further Advance
Tuesday’s bullish reversal had helped putting the bulls back into the driver side of the market. The overall technical backdrop remains supportive of further advance but it doesn’t mean that we’re out...
View ArticleS&P Sees Strong Support Near 3700
while several short-term indicators are pointing toward further weakness, the fact that S&P continues basing sideway using the June breakout point as support as it works off excessive optimism...
View ArticleOverbought Conditions Returned On Intraday Basis But Momentum Remains Supportive
overbought conditions had returned on an intraday basis but momentum remains supportive so downside risk could be limited. It is possible that S&P could continue to drift higher as trading...
View ArticleS&P Bearish Shooting Star Pattern Signals Potential Trend Reversal
Thursday’s bearish shooting star candlestick together with the fact that the S&P is overbought as it test key overhead resistance suggesting that a short-term pullback consolidation is inevitable....
View ArticleMarket Internal Deteriorated As S&P Tested Key Support
market internal deteriorated as the S&P moved down to test support at the lower boundary of the pink band. While seemingly vulnerable to further short-term weakness, support is strong near 4100....
View ArticleS&P’s 3900 Is The Line In The Sand
S&P rally attempt failed at formidable resistance. The upper boundary of the green band, around 3900, marks the inflection point. A failure to hold above key level indicates a change in sentiment...
View ArticleS&P Short-term Overbought But Momentums Remains Supportive
S&P continues drifting higher after climbed above the trend channel moving average last week. Overbought conditions have returned on an intraday basis but momentum remains supportive so downside...
View ArticleS&P’s Testing Formidable Resistance
S&P moved up to test formidable resistance after falling below that level in late September. Market internal has been strengthened following but upside momentum does not appeared strong enough to...
View ArticleMarket Internal Deteriorated As S&P Moved Down To Test Key Support
market internal deteriorated as S&P moved down to test support at the lower boundary of the green band. The longer the index stays near that level, the more vulnerable it is to lower prices. This...
View ArticleS&P Might Take New Leg Higher To Test Resistance At The Trend Channel Moving...
near-term picture remains the same, the S&P continues basing sideway using the upper boundary of the green band as support. Several short-term indicators are suggesting that S&P might take a...
View ArticleS&P Pressured By Short-term Negative Momentum
S&P will have a downward bias going into the end of this week, pressured by short-term negative momentum but we expect support at 3700, or last week’s pivot low, to remain largely intact. There is...
View ArticleS&P Held Support But Upside Could Be Limited
S&P rebounded nicely after recent pullback found support near the lower boundary of the pink band. Nonetheless, Money Flow measure is below the zero line, indicating a negative net demand for...
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