Last month’s LT wave chart suggested weakness in stock markets. That didn’t pan out for the US indexes, but still the wave got most of the short term swings correct. I have embedded a S&P 500 chart for June, making it easier to see (click for larger image): The blue line did a fairly good… Continue reading LT wave for July
Tag: S&P 500
Is the bull exhausted?
The S&P 500 fell back towards 1920, as we had indicated last week, with other markets also pulling back from recent highs. Still, the Nasdaq closed out the recent lunar red period with a healthy 68 point gain, suggesting ongoing strength in the market. The Nasdaq is one of the indexes that has not exceeded… Continue reading Is the bull exhausted?
Quick update
Not much time to write as I am on holiday, so only a quick update this week. Here is the current chart for S&P500 index (click for larger image): My technical indicators remain as flat as they can be. So this is a market that can go either way in the coming weeks. We have… Continue reading Quick update
Key reversal levels for week of April 21, 2014
Comments on the key levels for this week : * The Nasdaq and the Nikkei tested their Bottom1 targets last week and bounced back strongly. For the Nikkei we now see weekly MoM turn up, the first major index to do so. This is a tentative sign that the recent “correction” may be over already.… Continue reading Key reversal levels for week of April 21, 2014
Midweek comments
Some interesting developments in my daily key reversal levels. * Daily momentum (MoM) remains down for all major stock indexes, but if markets do not drop today then MoM will probably turn up for several markets. That would set us up for a rally. * Gold broke above its daily key reversal level on Monday… Continue reading Midweek comments
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