After gapping up higher on Monday, it was all downhill for the rest of the week with US Equities closing ~ 4% lower than last week’s close:

This week saw an official “correction” in the trend of US Equities with a 10% pullback from the mid-February highs. This pullback also coincided with a test of resistance at the 61.8% Fibonacci retracement level at 5520:

It was a volatile week in the US Equity markets with the SPX (S&P 500 Index) closing down ~3% on the week once the dust had settled on Friday: Markets are looking a little weak here as we had been in a consolidation range between 5840 and 6160 for ~4 months and have now broken […]

It was another volatile week in the US Equity markets with the bears beating the bulls by ~1%: with Friday’s bounce off the ~5840-5880 zone that is providing strong support we are back into the sideways consolidation channel that we have been in for the past ~4 months but are now ouside the upward trend […]

After hitting new all-time highs on Wednesday, US Equities collapsed on Friday with prices now sitting on the lower boundary of the longer-term uptrend channel: Thus, we remain in the choppy sideways consolidation range that we have been in for the past 3 months. Now we might ask whether Wednesday’s high was a triple top […]