Although US equities closed up ~2.5% from last week’s close it was not a smooth ride – with a bounce from last week’s close early in the week to a retest of the ~5000 support level on Thursday and a jump back up on Friday. We remain in the tentative downtrend channel that started ~1 […]

It was another bad week for US Equities with indices down ~3% on the week and now down over 5.5% from the highs at the beginning of the month. It may be a little early to be drawing bearish channels. but since we closed outside the bullish channel last week and have seen a continuation […]

US Equities got slapped around a little this week and closed the week ~1.6% lower than last week’s close: We are now sitting at the bottom of the bullish trend channel that started last November and we wait to see whether this might be a good entry point if we should bounce from here and […]

Comments made by members of the Fed regarding the possibility that there may be no interest rate cuts this year scared the US equity markets on Thursday and, although they recovered slightly on Friday, markets closed the week ~1% lower from last week’s close: That 5200-5220 resistance area that I have been highlighting for the […]

US Markets started the week slowly with a small pullback at the beginning of the week but finished the holiday-shortened week with a recovery and closing about 0.25% higher than last week’s close: However, we are still hovering at that 5200-5220 level that is providing some resistance to possible moves higher – at least in […]