50-day in Play

Futures markets indicate a continuation of Friday’s sell-off. Last week the S&P 500 managed to close lower than the prior week. It appears a bit of a trader’s pull-back may be in order. Technical indicators suggest the 50-day moving average will likely be tested early this week. That would be around the 4239, or a […]

Q3 Earnings Season Begins

Now that Q2 books are… um… in the books, investors and traders will get a look at whether or not the rumors matched reality. Many have speculated that earnings will be strong – especially when compared with comps from a year ago. Of course, the other key component to pay attention to is guidance. Investors […]

Q3

2021 passed the half-way point last week and the SPX managed to finish the week at an all-time high. This sets up a push/pull situation for this week’s holiday-shortened 4-day trading week. Last week the SPX broke out of its trading range and shot higher. In fact, it’s high enough now that it’s looking pretty […]

End of Q2

Last week provided a technical surprise as the SPX reversed course and broke out to all-time highs. This breakout should negate the sideways pattern that had presented the prior week. The next wave higher appears to be a move toward 4307/4350. We’re at the end of the quarter, so some volatility is not unexpected. We’re […]

Sideway Pattern Emerging

Based on last week’s move it looks like a sideways pattern is likely to emerge. The SPX fell about two percent for the week, dipping below the 50-day moving average. The area of support for the index now sits at 4135. That’s about 3/4 of a percent cushion for the index. But a close below […]

Possible Trader’s Dip This Week

Last week the SPX broke a nearly 5-week streak by finally closing at new all-time highs. The achievement was not exactly a powerful trend higher though. It was a grind. And now market signals are suggesting a small pull-back may be in the cards. The issue is not that the markets made a new all-time […]

In Between Patterns

Last week failed to close above the 4232.60 level for the S&P 500 setting up an interesting test for this week. Can the SPX push through to new all-time highs this week, or will the index bleed off momentum and shift toward a neutral-to-negative sideways trend? Based on the scientific-wild-ass-guess (SWAG) technique, the evidence — […]

Short (But Important) Week

May is officially in the record books. Now what? Well, since it’s too late to sell in May and go away (and, besides, that’s just a wive’s tale, right?), I guess it’s time to turn the page to June. The talk of the town continues to be inflation. Apparently it’s real. The question is how […]

Confidence Shaken

The NASDAQ has been getting whipped around since mid-February, but last week saw major indexes join in declines. And already the major media narratives is beating the drum of inflation. This is not new news. In fact, had you been in the last forum call, you may recall a warning that inflation and CPI data […]