TECHNICAL ANALYSIS Major Indices Week of June 30, 2023 Stocks traded an outside week up and closed near the high end of the week’s range. Friday’s gap activity left island reversals on the daily charts for both the Dow and the S&P. Both the Dow and the S&P settled at the highest weekly close for … Read more
TECHNICAL ANALYSIS Major Indices Week of June 23, 2023 Stocks spent the entire shortened trading week lower and closed near the low end of the weekly ranges. The market is responding to a big shift in sentiment over the past three weeks. Prior to the new 2023 highs for most indices the battle was between … Read more
TECHNICAL ANALYSIS Major Indices Week of June 16, 2023 Stocks continued their press higher last week with the Dow setting a new trading high for 2023 and closing just shy of the weekly high close of 9 January 2023. The S&P 500 has moved into the highest daily close since 21 April 2022 and the … Read more
TECHNICAL ANALYSIS Major Indices Week of May 26, 2023 Stocks saw another extremely volatile week last week, once again led by tech stocks. The Dow saw a two-month trading low against lower trendline support in Thursday’s minor cycle timing point and then all indices rallied with the Nasdaq and the FANG leading the way, closing … Read more
TECHNICAL ANALYSIS Major Indices Week of May 19, 2023 Stocks traded another volatile week with prices setting a key low in the CRITICAL cycle timing dates of Monday-Tuesday and then rallied sharply to carry the S&P500 into a new yearly high and the Nasdaq to the highest levels since April 2022. The selloff on Friday … Read more
TECHNICAL ANALYSIS Major Indices Week of May 12, 2023 United States Michigan Consumer Sentiment Stocks ended the week mostly lower for the blue chips and the S&P while tech continued to lead the overall market. Prices were actually in relatively tight weekly ranges with the Dow closing the week down -1.10%, S&P500 down -0.30%, the … Read more
TECHNICAL ANALYSIS Major Indices Week of April 21, 2023 Stocks ended the trading week flat in extremely tight weekly ranges with all the major indices ending slightly lower on the week with the Dow down -0.22%, the S&P down -0.10 and the Nasdaq down -0.42. Now, with critical timing for stocks running through Monday’s trade, … Read more
TECHNICAL ANALYSIS Stocks traded higher all week to stage a big recovery week as the first quarter came to an end. US bank stocks recovered as well with an advance of +4.57% with the Dow up +3.22%, the S&P500 up +3.48% and the Nasdaq up +3.37%. The action moves sentiment out of the fear side … Read more
TECHNICAL ANALYSIS The DJIA staged a brutal outside week down and closed on the bottom of the weeks range, down -4.44%. Prices decidedly cleared the December lows and met a longer-term wave count objective at 32192/32170…settling below that level on the daily/weekly. The hourly chart is extremely oversold with the close on Friday and the … Read more
TECHNICAL ANALYSIS The DJIA staged an upside reversal week and settled in the top of the weekly range, up +1.75% on the week. The market tested the last major wave lows on the daily, set back in December, before reversing with a strong performance to finish out the week on Friday. The hourly has reached … Read more