Well, Santa sure pulled us through that strong resistance zone at ~4600 in the SPX (S&P 500 Index) and US equities closed the week up ~2.8% from last week’s close after 2 weeks of sideways consolidation: now the challenge will be to see whether we can reach the January 2022 all-time highs at ~4820. Despite […]

It was the second straight week of trading in a narrow (~50 point) range and below the important 4600 level in the S&P 500 US Equity index (SPX) although the index did move slightly through the prior pivot high intra-day on Friday but closed slightly below it: we will wait to see whether Santa can […]

Action in US equity markets was pretty muted this week with consolidation just below resistance (and prior pivot high) at ~4600: It will be interesting to see whether Santa can pull us above this resistance zone and towards the all-time highs at ~4810 (~4.5% higher) before the end of the year. Despite the respectable performance […]

It was a relatively quiet week in US markets as many investors celebrated Thanksgiving: The SPX is still sitting below the resistance zone at ~4600 that we really need to see broken before the recent uptrend channel can be considered sustainable. Most other markets/asset classes were also quiet, leaving US equities near the top of […]

After Tuesday’s strong breakout to the upside, US Equities calmed down into consolidation mode but ended the week up ~2.5% from last week’s close: I think we can say that we have broken out of the downtrend channel that we have experienced over the past 3 months and may be gearing up for Santa’s rally […]