Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3255 Down RALLY S: 3406 Up S&P 500 BULL S: 1548 Down RALLY * S: 1612 Up Nikkei BULL S: 12202 Down RALLY S: 13368 Up FTSE 100 BULL * S: 6222 Down RALLY… Continue reading Key reversal levels for week of July 8, 2013
Tag: S&P 500
The summer rally
Stocks made a nice drop to major support levels, and have rebounded since the start of our lunar green period. We now need to see some follow through this week, otherwise we can probably forget about a summer rally. Let’s have a look at the S&P 500 (click for larger image): The support level around… Continue reading The summer rally
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
When everybody expects the same thing…
…, then something else has to happen. Many investors were waiting for an overdue correction in May. Media outlets were reminding us to “Sell in May..”, since that had worked so well in each of the past three years. And what did we get? A melt-up. And now that bears have thrown in the towel,… Continue reading When everybody expects the same thing…
Further upside
Markets continued to march higher last week, and we now have clear breakouts to the upside in place. Such a strong performance is not unusual in eclipse green periods, as we explained a few weeks ago. We have another week of green period to go, so further gains are in the cards, but I think… Continue reading Further upside
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