US Equity markets remain in the sideways consolidation channel that they have been in for the past 3 months – between 7300 and 7600 in the SPX (S&P 500 Index): This is not a good scenario for momentum trading since it can result in a lot of whipsaw trades – so I am being cautious […]

US Equities, as represented by the SPX (S&P 500 Index), continue to oscillate in the 7300-7600 range and closed the week ~1.5% lower than last week’s close at ~7460:

This week saw a bounce off the 50-period Exponential Moving Average (EMA) line and a continuation of the bullish trend for US Equities as prices remain in a 4-month uptrend channel in the SPX (S&P 500 Index):

After last week’s brief period of euphoria, with investor’s thinking that the problems in the Middle East might be over, this week saw a return to reality with a ~2.4% drop in the SPX (S&P 500 Index) and a continuation of the sideways consolidation that has been building over the past two months:

US Equity markets jumped higher on Monday as investors reacted positively to news that the conflicts in the Middle East may soon be resolved. However, they pulled back modestly later in the week, managing to stay within the bullish uptrend channel, whilst closing ~1.5% higher than last week’s close: We are now sitting at ~7500 […]

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: