The S&P 500 cash index took out the previous week’s low at open on Monday and then immediately rallied off the low to form a very bullish intraday trading on Monday. Tuesday’s gap up open produced a buy signal on the daily cycle level. Last Monday the Fed chairman stated that the Fed will be […]
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 […]
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 […]
On June 1st, the weekly cycle count will start the 10th weekly bar, meaning the weekly cycle started from the March 23 low has survived nine weeks. Statistically a bear market rally can’t last more than nine weeks. So if the stock market can continue to press higher in the month of June, then it […]
It has been eight weeks since the March 23 low. The Dow and S&P 500 both are under its 200-day moving average. Nasdaq has been above the 200-day moving average since April 22nd. This divergence is reflecting the difference between the digital and real economy. The digital economy stocks continue to perform because
Last week we have been emailing to our member subscribers that a sell signal has been confirmed in all three indices. However, after a 6% selloff, the market staged an impressive comeback on Thursday and Friday. The strength of the comeback disarmed the sell signal, even though it didn’t reach the stoploss point yet. A […]
