Although US equities tried to reverse direction at the beginning of the week, Fed Chairman Powell boosted investor confidence on Wednesday suggesting that rate hikes might be lower than expected. Equities bounced strongly on the announcement and closed the week a little over 1% higher: This extends the short-term bullish trend and takes prices a […]

In a trade-shortened week leading into the Thanksgiving holiday, US markets showed their seasonal bullish trend with a ~1.5% gain on the week: This leaves US equities in a short-term bullish trend but still sitting at the top boundary of the longer-term bearish trend that has dominated performance Year-to-date. So, where we go from here […]

It was a relatively quiet week in US Equity markets with the sector closing down slightly on the week and prices still sitting at the top of the 1 Standard Deviation (SD) longer-term downtrend channel and at the center of the shorter-term uptrend channel : It is still not clear where we might go from […]

Market reaction to Consumer Price Index (CPI) numbers released on Thursday, before the markets opened, resulted in a significant jump (~6%) in index prices: Although this news has encouraged investors to get back into the market (maybe to help Santa 🙂 ), and has generated a short-term bullish channel, we are still within a longer […]

This was a weak week (double we{a}k’s) for US equities with the S&P index closing ~3 % lower than last week’s close: Last week I noted that we had broken out of the short-term 1 SD  downtrend channel but warned that we were not outside the longer term downtrend channel and certainly not into a […]

It was another good week for US equities with markets up a little over 4% from last week’s close: However, as can be seen from the above screenshot, we are still within the downtrend channel defined by the lower highs and lower lows within the 1 (white) and 2 (aqua) Standard Deviation (SD) boundary lines. […]

It was a good week for US equity markets with a 4.5% bounce higher from last week’s close: However, I still don’t think that it’s clear where we go from here. We are clearly in a longer term down channel (A to D) that started at the beginning of the year and is defined by […]

US Equities closed down ~1.5% on the week with a couple of very volatile days – Thursday’s range was ~200 points in the SPX (S&P 500 Index): However, despite this volatility we are still sitting on support at the previous pivot low at ~3600. Again, we will have wait to see whether this support holds […]