Category Archives: Stock Indices

Monster Buy Signal Is Not Far Away

The tech sector leadership has been destroyed today.  The FANG stocks have suffered reputational damage from the Facebook data scandal.  On top of the bad news, the beloved Nvidia also tanked due to the fatal accident involving a self-driving car.

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DOW the Laggard

While NASDAQ has taken out the Jan 2018 high two weeks ago, S&P 500 cash index just registered a weekly buy signal, the DOW is lagging behind.  The daily DOW index is tightly contained in a triangle.  The divergence between DOW,  NASDAQ and S&P 500 is reflecting the deep concern of the trade war.

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S&P 500 Cash Index Cycle Location

The NASDAQ has taken out the Jan 2018 high while both the DOW and S&P 500 were contained below the Jan 2018 high.  Tech is still the leader, Tech is where the growth story is.   Since this is the beginning of the 2nd half of the 4-year cycle, the first half of 2018 appeared to be choppy consolidation. 

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The Low is In with a New Daily Cycle

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Today the S&P 500 cash index took out the previous day’s high and closed above it.  Not only it closed above the previous day high, it also closed above the weekly and monthly pivot range.  The strong close implies that the daily cycle low is in place.  This daily cycle finished in 14 days, which is relatively short in cycle length. 

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Is the Low in Place Already?

Amid the abundant debates and noises between tariffs and rising interest rates,  the indices quietly took out the high of the week of February the 9th!  This action came after two inside weeks, it finally made a strong statement by producing a swing low for the week of February the 9th.

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