S&P 500: Is it This Simple? Excerpted from this week's edition of Notes From the Rabbit Hole, NFTRH 364... In an age of Algorithms, High Frequency Trading, Quant-injected performance engines…
I want to update the charts from the last two updates (GDX, XLE and SPX) and also have some words about the markets overall. GDX hit the first resistance level…
A brief daily chart review... Yesterday GDX continued to follow through on its trend line breakout, which came on volume and was noted in NFTRH 363. This continues to look…
Yesterday in pre-US market, we noted the big picture of the S&P 500, which is technically bearish on the intermediate-term and still up trending on the long-term. We also reviewed…
Sometimes we need to dumb it down and look at cartoons or the simplest pictures we can find. This is a calming view when considering the noise of Elliott Wave…
Being a visual learner (as opposed to a facts and figures learner) I always like to look at the market's pictures in order to tune out idiotic and/or emotional headlines.…
Just a short FYI update. VIX, touched the top end of the 20 to 22 pullback target zone. This was accompanied by a bounce in the S&P 500 to 1988 and subsequent fade (+.23% at 1973.88 at time of writing).
We were roughly looking for SPX 2040 and VIX 20-22 as a potential bearish setup. VIX hit 21.51 earlier today.
Yesterday the S&P 500 closed once again within the range we have been watching, that includes the upside (1993.48) and downside (1903.07) parameters to a test of what we have called ‘Resistance #2’ at 2040 (Resistance #1 was 1975, which SPX is still dealing with on its bounce attempt).
China is again in the news as its Caixin manufacturing index hits its lowest reading in 6 years. Dutifully, world markets decline by around 2% on average. Clicking the graphic…
The bounce has made it to target #1. Higher potential remains at 2050, but this is a valid bounce target as well. If SPX is going toward 2050 however, that…
Reviewing the US stock market picture from a few different angles... NFTRH been using the Equity Put/Call ratio to gauge pressure on the US stock market for all of 2015. …
Bulls obviously have some work to do now. As noted, the break from this Symmetrical Triangle is probably going to establish a trend (finally) for the market. As of this…
It's 2 trading days since our Hammer Time post, that foretold a bounce. Talk about a tough market. Up, down, up, down. The S&P 500 already set a record last…
SPX bounced from the MA 200 and is using the 50 day moving averages as support. Key resistance is low 2130's. Key support around 2100. INDU is more bearish and…