US Equity markets relaxed a little earlier this past week as the SPX (S&P 500 Index) pulled back to the bottom of the current uptrend channel and bounced off the 50-period EMA line:

After hitting more all-time highs at the beginning of the week the SPX (S&P 500 Index) bounced off the ~7600 resistance level and closed the week ~2.5% lower than last week’s close:

Another month has passed and more new highs in the US Equity markets despite all the uncertainty: Despite the pullback from resistance at 7500 in the SPX (S&P 500 Index), this week saw a retest and breakthrough of that resistance and we are now headed towards ~7650, or the 1.618 Fibonacci extension level where we […]

It was a week of consolidation in the US equity markets with the SPX (S&P 500 Index) hovering in the 7400-7500 resistance range and closing the week ~ 0.9% above last week’s close: From here, at the lower boundary of the current bullish uptrend channel, we will wait to see whether the 7500 resistance level […]