US equities continued to confirm their bullish trend over the past week although they could not close above the 4300 mark: 4300 is the 61.8% Fibonnaci retracement level from the October 2022 lows to the prior January 2022 all-time high. It is also a significant area of previous support/resistance – notably the August 2022 attempt […]

Another bullish week in US Equities with the SPX continuing it’s move within the uptrend channel and sitting at the upper 1 SD boundary – where we may see some resistance: This week’s performance in US equities placed pretty near the top of the list in terms of major asset class performance, with global equities, […]

It wasn’t a great week for US equities with the S&P 500 Index pulling back from the 1SD upper boundary of the uptrend channel: It still looks possible for US equities to pull back to the potential support zone at ~4300 but, in comparison with other major asset classes, this still leaves it in the […]

After a pullback to test support at ~4300, US equities bounced to finish the week strongly, closing at the top  boundary of the 1 SD uptend channel: Should the trend continue there does not seem to be serious resistance until ~4600 – but this may just have been some early 4th July fireworks, so we’ll […]

After last week’s pre-holiday fireworks the celebrations fizzed out after the holiday and US equities closed down ~1% lower than last week’s close: Another re-test of the 4300 level would not surprise me – but then it’s anyone’s guess where we might go from there. Since we are getting towards mid-summer a sideways market into […]