US equities were up ~1% from last week’s close: and closed just outside the upper 2 SD boundary of the longer term downtrend channel. However, price is at the 50% retracement level of the peak-trough range of this channel that has provided significant support and resistance in the past. We really need to take out […]

In a holiday-shortened week US equities were relatively quiet but managed to close the week up ~1% from last week’s close: However price is still hanging around in that pendant pattern (defined by yellow boundary lines of the bearish and bullish 2 SD channels) and we still have no obvious reason to favor either a […]

The first Quater of 2023 ended with US equities putting in a strong performance closing up over 3.6% from last week’s close. Price is getting squeezed in that pendant zone between the 2 heavy yellow boundaries of the bearish and bullish trend channels. We can expect to see a breakout in one direction or the […]

It was a difficult week in the US equity markets with the SPX gaining ~1% in a volatile week of market action: We are at the bottom of a 2 SD  short-term uptrend channel and close to the top of a 2 SD longer term downtrend channel. There is support/resistance in this general area and […]

Two really bullish days at the end of the week resulted in a ~2% gain in US Equities as measured by the S&P 500 Index: Although support at 3940 was tested at the beginning of the week there wasn’t enough bearish sentiment to push prices below this level and now, maybe, we are heading back […]

As we approach the end of February we see that the apparent recovery in US equities may not be as strong as we may have thought. This week saw another drop of ~2.7% in the SPX (S&P 500 Index) from last week’s close and we are now up only 3.4% on the year after hitting […]