As a follow up to the key levels we posted a few days ago, here they are going into the next week. Notice how the Nasdaq has closed above its daily key level yesterday and is now in rally mode again. The S&P 500 closed just a few points below its daily key level and… Continue reading Key levels for next week
Category: Market Commentary
Levels to watch
Yesterday, all three major US stock indices closed below my daily trailing stop-loss levels. It is the first time it happens this year. This doesn’t mean we are in a bear market already, as the stocks may still rebound. But, if they also fall below my weekly stop-loss levels, then we will be in a… Continue reading Levels to watch
The next rally
A few weeks ago, when we last covered the S&P 500, I warned that the market was likely to give us a few good down days in the last week of May, with a target of 1600-1625, and then another rally. See: When everybody expects the same thing… We got the down days and the… Continue reading The next rally
What parabolic peak?
The recent advances in the stock market have led to an explosion in articles contending that we are in a new stock market bubble or mania. Some analysts are seeing a parabolic peak already. Almost everyone seems to agree that some market decline should come any day now. The number of references to “bubble” on… Continue reading What parabolic peak?
Grinding up
Just back from Greece, so only a quick note today. I will post some extra updates later this week. We got some swift move downwards last week, especially in the Nikkei index. But our lunar red period is now ending, which opens the door for another rally. This is the current chart for the Nasdaq… Continue reading Grinding up
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