US equity markets, as represented by the S&P 500 Index (SPX), continue to trade in the 300 point range between 4500 and 4800 that they have been in for the past two months: The confusing channels shown in the above figure re-enforce the fact that the market has no clear direction or trend. We should […]

After trading in a 300 point range for the past 2 months, and starting the New Year with a push to new all-time highs is the first half hour of trading on Monday it was all downhill from there, sparked by hawkish comments from Fed Chair Powell on Wednesday, with US equities ending the week […]

It was a stellar year in the US equity markets with the S&P 500 closing up over 29% on the year: There were only two drawdowns of over 4% – that came in November and early December – but these were both short-lived and, with the help of Santa, we closed the year near all […]

A strange week in US equity markets with lots of action on Monday and Tuesday and consolidation through to the end of the week: On Monday and Tuesday we saw 2 ~100-point (>2%) range days (grey shaded boxes) to the upside before we moved back into more normal ~40-point range days of sideways consolidation. Another […]

It was a nervous week in US equity markets with the SPX Index closing down ~ 1.2% from last week’s close.  However, there were four days with ~100 point ranges and Implied Volatility (lower panel) has increased significantly: The above chart shows prices for SPY (since SPX data isn’t coming into my platform at the […]

We spent the week consolidating near the all-time highs in the SPX (S&P 500 Index) without actually reaching new highs: Some technicians might see a double or even triple top here but I only really see a 2 week sideways consolidation.  Where we go from here we’ll have to wait to see.  We have pulled […]

A pause this week with no new highs in the US equity markets: The SPX (S&P 500 Index) closed down ~0.25% from last week’s close after a pullback that moved it slightly outside the regression channel (heavy blue lines) but not outside the channel defined by higher highs (thin blue lines) and higher lows (thin […]

US Equities hit new all-time highs on Friday and closed the week ~1.3% higher than last week’s close: We are still in an upward trend channel after breaking the downtrend a little over two weeks ago and breaking above resistance at ~4545 last week. We’ll see if this trend continues or whether we roll over […]