The market stalled at a trendline cluster at 2780-90 last week. Here’s what that means for the outlook.
The market is in a slow motion meltup channel. There may be resistance at 2790, but both 2800 and 2840 are also likely targets. Here are ar the indications that might signal a rollover, and those that would suggest more upside.
As the market tries to extend the rally it faces key resistance at 2742 and 2758. Here’s what to expect.
The bulls took control early last week but could not hold the breakout through the intermediate channel line at 2727. By the end of the week the SPX had fallen back to the line.
The bears’ line in the sand held last week but the war isn’t over yet. Here are the parameters of the battle and what to expect when they break.
The market met the best hopes of bulls and worst expectation of bears last week as it broke out above 2673 and hit my potential target of 2725. It’s in a meltup channel but faces multiple resistance lines. Here’s where they are and what to look for.
The market is again at a crossroads. A strong start to this week could trigger buy signals on the 10-12 month cycle. But bears could stay in control if certain things happen. This report covers the triggers for both scenarios.
The SPX has reached a moment of truth. It is trading just below the confluence of several short term and intermediate trendlines. Here’s where the signs point.
The US Treasury’s tax windfall has come and gone. The Treasury is resuming net borrowing early than usual this year, in April instead of mid May as usual. That’s problematic in view of the weak cyclicality. As I wrote last week, “The usual April-May seasonal pop should fizzle early.” Here’s what to look for.
The 10-12 month cycle remains in a down phase with more downside potential ahead. Conversely, the 6 month cycle seems to be in a weak up phase. But bears need to be careful because the up phase could still come to life. With multiple crosscurrents at work, here’s what to look for.