It was another down week for US equities with the S&P 500 down another ~2.5%: We closed the week just below the June lows (B) that raises the question as to whether this will hold as support and allow us to bounce into a Santa Claus rally to the end of the year – or […]

There is nowhere to hide or make money investing at the moment as US equities saw another 4.6% loss on the week: As I suggested last week we are now testing the lows of the year that were established in June. We are at the bottom of the downtrend channel so the big question is […]

It was a rough week all around with US equities losing ~3.5% from last week’s close: As can be seen in the above screenshot prices oscillated quite wildly in the zone between the 38.2% and 61.8% Fibonacci retracement levels at relatively high volatility levels: The price action confirmed the break-out into a new downtrend channel […]

A bad week for US equities with a 3.8% weekly decline in prices: Most of the damage came on Friday following announcements from the Jackson Hole Economic Conference and we have tentatively broken through the lower boundary of the recent bullish channel. I have drawn the boundaries of a potential new downtrend channel but this […]

The markets took a breather this week. Although US equities remain well within their upward channel there was a pullback from near the top of the channel to the center: If prices continue the pullback we are likely to see support at ~417 that has been an area of strong support/resistance in the past. This […]

This week was mildly bullish for US equities: although prices were not able to push through the 417 level (grey dashed line) that has acted as support and resistance over the past 6 months. We are currently trading near the top of the upward bullish channel and next week will see whether we can continue […]