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 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
TECHNICAL ANALYSIS Major Indices Week of August 18, 2023 Stocks suffered their third straight week of losses and the month of August can basically be attributed to what can now be called The China Syndrome. All it took was the speculators capitulating their shorts and the “groupthink” on a US recession, to create a severe … Read more
TECHNICAL ANALYSIS Major Indices Week of August 11, 2023 Stocks had a decidedly mixed trade the past week with the blue chips leading the way while the tech sector continues its selloff from the CRITICAL timing of July 20/21, which thus far marks the tops in both the FAANG and the Nasdaq indices. S&Ps traded … Read more
TECHNICAL ANALYSIS Major Indices Week of August 4, 2023 The Dow traded an outside week down after prices started the month of August with new highs for the drive and then swooning to settle on the bottom of the week’s range with Friday posting a bearish outside day down. S&Ps staged the worst weekly decline … Read more
TECHNICAL ANALYSIS Major Indices Week of July 28, 2023 The Dow traded to the highest levels since early 2022 and closed at the highest weekly close since 31 January 2022. The S&P closed at the highest weekly close since 10 January 2022 and the highest daily close since 04 April 2022. On Wednesday of the … Read more
TECHNICAL ANALYSIS Major Indices Week of July 21, 2023 The Dow raced to the highest levels since April of 2022 and set the highest weekly close Since 10 January 2022. The weekly chart is in an uptrend and the breakout projects to higher levels. The Dow Industrials have now closed higher for the past ten … Read more