Timing TECHNICAL ANALYSIS Major Indices Week of May 5, 2023 Note: For the latest update on the US Dollar, click here. Stocks set a swing high in Monday’s minor timing and then swooned sharply to four week lows (on Thursday’s key timing) before staging a sharp rally on Friday to erase much of the week’s … Read more
TECHNICAL ANALYSIS It has been a while since we looked at the charts for the Dollar Index. If you remember in the Fall of 2022, we had outlined some very important timing for the Dollar, writing: “could we be looking at an intermediate and perhaps even longer term high in the US Dollar?” Since late … Read more
Timing TECHNICAL ANALYSIS Major Indices Week of April 28, 2023 Stocks traded in a volatile outside week up last week with all the major indices ending higher for the week. Friday’s rally trade was also the end of the month of April and it was the best monthly performance for stocks since January of this … 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 Major Indices Week of April 14, 2023 Stocks sold off on Friday to relieve some overbought short-term conditions, but the major indices all ended the week higher. The Dow closed up +1.20%, the S&P was up +0.80 and the Nasdaq up +0.30 for the week. Prices moved away from the key timing point … Read more
TECHNICAL ANALYSIS Major Indices Week of April 6, 2023 The Dow traded in an extremely tight, shortened weeks range, and closed up +0.63% in the middle of the weekly range. The S&P ended down -0.10% for the first lower close of the past four weeks. The Nasdaq closed down -1.07%. Sentiment has shifted to a … 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
TECHNICAL ANALYSIS The DJIA traded a narrow, inside week and settled slightly lower…closing down -0.17% toward the middle of the week’s range. The action does little to the charts as the Dow has basically been stuck in a trading range since the wide range of December 22, 2022. Sentiment remains neutral with a slight bias … Read more
TECHNICAL ANALYSIS The DJIA traded a whipsaw week and closed down -0.15% as the blue chips once again lagged the S&P, Nasdaq and Russell…which closed up +1.62, +3.31 and +3.88 respectively. Sentiment remains slightly neutral while momentum indicators have turned toward ‘greed’ with the 52-week high/low reaching an extremely frothy +2.90 on last Friday’s close. … Read more