Doug Sooley 
TECHNICAL ANALYSIS Major Indices Week of November 3, 2023 Stocks had their best week of 2023 with massive (Halloween Monster) rallies in all the major indices, including the recently lagging secondary markets. The action wiped out all of the past two weeks of losses and the action looks like it is an impulse wave which … Read more
TECHNICAL ANALYSIS Major Indices Week of October 27, 2023 Stocks suffered a second week of sharp declines with most major indices moving into the lower quartile of the year’s ranges. The weekly charts are now in oversold conditions and sentiment is in extreme fear. The Dow broke through a critical trendline on the long-term charts … Read more
TECHNICAL ANALYSIS Major Indices Week of October 20, 2023 Stocks had an across-the-board meltdown last week with every major index closing lower and on the bottom of the weekly ranges. The market could not shake off the geopolitical news as well as political chaos in the US. The weekly charts are starting to move into … Read more
TECHNICAL ANALYSIS Major Indices Week of October 13, 2023 Stocks traded a tight and volatile week, dominated by geopolitical news, with blue chips and large caps eking out gains and settling in the middle of the weekly range…while tech and secondary stocks lagged. Short-term, the key now will be to see how prices move away … Read more
TECHNICAL ANALYSIS Major Indices Week of October 6, 2023 Stocks continued their sharp declines last week with the major indices hitting 4–5-month lows before Friday’s rally which left all but the Dow in weekly reversals. The daily charts are reacting to oversold conditions and the hourlies had setup bullish divergences from extreme oversold conditions. The … Read more
TECHNICAL ANALYSIS *Note: There will be no technical update next weekend. The next report will be October 7th. Major Indices Week of September 22, 2023 Stocks suffered sharp declines last week with the loss leaders being tech and secondary markets and the blue chips performing only slightly better. All major indices closed at the bottom … Read more
TECHNICAL ANALYSIS Major Indices Week of September 15, 2023 Stocks closed out a volatile week lower, with all indices recording weekly losses and settling at the bottom of the week’s range. Prices reacted to the timing on Thursday which coincided with the past quarter’s Triple Witching. The weekly charts continue to work off overbought conditions, … Read more
TECHNICAL ANALYSIS Key Technical Insights from the Major Indices in the Week of September 8, 2023 During the week, the stock market experienced widespread declines, with particular pressure on tech stocks and the Russell index. The S&P 500 saw a week of trading within a narrow range, closing closer to its lower end. Analyzing the … Read more
TECHNICAL ANALYSIS Major Indices Week of September 1, 2023 Stocks opened higher and held higher trade throughout the week with the tech indices once again leading the charge. The daily charts are in uptrends and the hourly charts have worked off oversold conditions and are turning back up with Friday’s action. Last week’s timing played … Read more
TECHNICAL ANALYSIS Major Indices Week of August 25, 2023 Stocks had a mixed week with tech stocks rebounding while the blue chips settled lower for the fourth straight week. The Dow traded a tight weekly range and closed in the middle, down around 154 points. S&Ps traded an inside week and closed in the middle … Read more