Tag Archives: weekly cycle bottom

S&P 500 Cash Index Cycle Location 06/12/2020

Last week the S&P 500 had more than 7% correction.  It took out the previous week’s high and low, but unfortunately it didn’t close below the previous week’s low on the weekly bar.  This is an outside reversal weekly bar, but not the best kind of outside reversal bar.  It needed to close below the previous week’s low to qualify for a text book outside weekly reversal.

Read more ...

The Reopening Trade

The market has spoken by producing an outstanding week on the 10th bar from the weekly cycle low which took place on March 23rd.  The magnitude of the bounce in price and time establishes that the March 23 low is a four-year cycle low.  Since the Nasdaq took the lead to make an all time high, which establishes the basis for an

Read more ...

The Unknowables of Covid-19

In the last two weeks, the S&P 500 essentially chopped around the range established after the Fed nuclear option (buying junk bonds) announcement.  Underneath the three indices, there are vastly different performing sectors reflecting the new Covid-19 driven economy and the related stock performance.

Read more ...

Possible Double Top in Play

After the S&P 500 hit 50-day moving average support, it staged an impressive rally to wipe out the entire loss from the coronavirus selloff.  All three indices made new highs last week.  It appeared to be that the market is discounting the long lasting economic impact from the fast spreading virus. 

You need to login to view the rest of the content. Please . Not a Member? Join Us

Read more ...

NASDAQ Index Finally Caved In

The recent tech led rally has been nothing but impressive.  The DOW index topped on Jan 17th, 2020, finally the S&P 500 and Nasdaq topped a week later on Jan 22nd, 2020.  Over the weekend, the coronavirus deaths news has been hitting the wire hard.  As we are writing the blog on Sunday evening around

Read more ...