Posts Tagged ‘ Resistance ’

The move of the past two days is marked by a myriad of conflicting and confusing signals. The uptrend, while unbroken, appears to be weakening as the market averages test an area of heavy resistance. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition...
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The market continued to go nowhere as it tried to chew through major resistance. Upside price projections have mostly been met. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful,...
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The 1030-1050 area on the SPX is a major resistance zone. The rally will either be halted here this week, or it seems likely that the market will move significantly higher in the weeks ahead. Negative divergences and price projections just above Friday’s close suggest that the battle lines are drawn between the forces...
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Monday’s rally caused a surge in the 6 month cycle projection. Is there any hope for the bears? Resistance… Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful,...
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Intermediate indicators strengthened and centered moving average projections rose on Friday. However, the major averages and most individual sector charts have yet to break through key resistance. So will they? Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that...
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Having failed to break through resistance, the market appears to be setting up another trading range. Intermediate indicators are still rising, but time counts and the action of the market as it approached downtrending resistance suggest the possibility that 10-12 month and 6 month cycle highs could be forming. Click here to...
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We’ve had a quite nice flash trading rally, but now the McClellan Oscillator has hit 259.   There is resistance at about 80.65. The time for accumulation has past, and thus I will not being creating a flurry of stock ideas as I have for the past month or so. If I had to hazard...
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The market rally slowed on Friday. Some signs point to a continuation of an intermediate term up phase; others point to a short term pullback. Either way the market faces formidable resistance, both near Friday’s closing levels, and if that’s surpassed in the 795-800 area on the SPX. Click here to download...
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The market began to rebound on Tuesday after holding at a key support level on Monday. Lines of support and resistance are converging. That should result in a resolution of the trading range with a breakout one way or the other by the end of February or early March. The sooner the break comes...
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The McClellan Oscillator hit an oversold reading at -153 on Tuesday, which was enough to engender a market recovery bounce on Wednesday. As discussed previously and also in this week’s podcast, there are layers of overhead resistance on almost all charts. © Russ...
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The market’s seemingly innocuous pullback following Tuesday’s big rally has the players thinking “consolidation in an uptrend.” But within the numbers are some possible portents of danger which would become even more troublesome if the market fails to advance through resistance today. Click here to download complete report in pdf format (Professional...
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Friday’s rally left the technical picture muddled. It’s clear that a 6 month cycle up phase is under way. Thanks to heavy resistance it is not clear whether that up phase will make significant upside progress. In market terms this is the classic battle between the irresistible force, that being the 6 month and...
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