The markets took a breather this week. Although US equities remain well within their upward channel there was a pullback from near the top of the channel to the center: If prices continue the pullback we are likely to see support at ~417 that has been an area of strong support/resistance in the past. This […]

This week was mildly bullish for US equities: although prices were not able to push through the 417 level (grey dashed line) that has acted as support and resistance over the past 6 months. We are currently trading near the top of the upward bullish channel and next week will see whether we can continue […]

With continuing high inflation and weak GDP numbers supporting concerns of a recession we naturally saw a strong week in the US equity markets 🙂 As we can see in the above figure, the break-out from the downtrend channel that we saw last week was confirmed by the follow-through that we saw this week – […]

Despite Friday’s pullback it was another positive week for US equities with the S&P 500 up ~2.6% on the week: Tentatively, it looks as though prices may have moved out of the downtrend channel that they have been in for the past ~6 months – but we might still see resistance at ~400 since this […]

Although the week started off with sharp declines in the prices of US equities we ended the week with a bounce and an ending only ~1% lower than last week’s close: Prices are still sitting at the top of the downtrend channel and we will have wait to see whether we will see a breakout […]