Monitoring purposes; Long on 1/23/18 & 2839.13. Monitoring purposes : Neutral. Long-Term Trend monitor purposes: Neutral. S&P 500 Momentum is the name of the game. Momentum weakens first before a high in the market. See red squares on chart above. The RSI started to make lower highs as SP may minor new highs before a
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Pre-Open Market Analysis Monday broke above a wedge top on the 60-minute chart. The target for the bulls is a measured move up, which is around 2860. However, the daily, weekly, and monthly charts have never been this overbought so a reversal down can come at any time. Yet, the bull trend is so strong
I’ve been yammering on quite a bit about how the weakness and the strength would finally give the gold bugs a much-needed rally. Well, it’s here and has cut above an important level of resistance, besides having already blown past its descending trendline. SPDR Gold Shares ETF And that, in turn, has driven the .
Dow Jones Daily Chart The was the only major index to decline yesterday. Although it declined by less than six points, it formed a doji after traders tried to push both up and down, resulting in little change. A doji is a distinct trend change signal, especially during rallies. There are three criteria for a
21-Day McClellan OB/OS Overbought Opinion Most of the indexes closed higher Tuesday with the one exception of the DJT. Internals were positive on the NYSE and NASDAQ as NYSE volumes were flat versus the prior session while NASDAQ volumes declined. Several more new closing highs were achieved on the charts. The data has turned a
The Utility Sector has never been a place for traders. Staid and regulated, it is more of a place for investors looking for a steady income stream. Dividends galore. Quiet moves. Sometimes it is the quiet ones that are the ones to watch though. As my kids point out, those power line supports look a
The index is showing little movement in the Wednesday session. Currently, the index is at 5528.80, down 0.12% on the day. On the release front, France and the eurozone released manufacturing and services PMIs. Eurozone PMIs were a mix, as Flash dipped to 59.6, missing the estimate of 60.4 points. Flash improved to 57.6, missing
The is unchanged in the Wednesday session. Currently, the index is trading at 13,557.50, down 0.02% on the day. On the release front, German and Eurozone PMIs were mixed, but continue to show expansion in the manufacturing and services sectors. German Flash slowed to 61.2, shy of the estimate of 63.2 points. There was better
AT40 = 70.5% of stocks are trading above their respective 40-day moving averages (DMAs) – Day #1 of an overbought periodAT200 = 66.0% of stocks are trading above their respective 200DMAs (a TEN MONTH HIGH)VIX = 11.1Short-term Trading Call: bullish CommentaryThe (via SPDR S&P 500 (NYSE:)) made another all-time high as it continued its remarkable
Bank of America Corp (NYSE:). had an incredible 2017. Shareholders saw BAC stock rise by as much as 36% on the back of strong revenue and earnings growth. This, in turn, led to even higher expectations for the next couple of years with analysts predicting EPS of $2.40 in 2018 and $3 in 2019. In