TECHNICAL ANALYSIS The DJIA traded an inside week and settled in the upper end of the weekly range, closing out the week with an advance of +1.8%. The Dow continued to lag the S&P, Nasdaq and Russell which had stronger intraweek performances. Sentiment is leaning toward greed again and the 52-week new highs/lows closed at … Read more
TECHNICAL ANALYSIS The DJIA traded lower all week and ended down 2.7% in the lower half of the weekly range. Last week was a mix of layoff announcements and political maneuvering over the US debt limit. The tech and secondary markets performed much better than the blue chips, with the Nasdaq actually eking out modest … Read more
TECHNICAL ANALYSIS The DJIA spent most of last week on the upside and settled with a 1.99% increase on the week as prices inch back toward the late 2022 swing highs. The “Dow” continues to outperform the S&P500 and the tech-centered Nasdaq Composite. The 52-week H/L line remains frothy, closing the week at -0.16. Sentiment … Read more
TECHNICAL ANALYSIS The DJIA traded a tight, inside week on quiet holiday volume and closed fractionally lower on the week. Short-term, prices are building a flagging triangle pattern off to the side of the recent decline. The hourly is trying to turn up from oversold conditions and the daily is doing the same. Conversely, the … Read more
TECHNICAL ANALYSIS US Dollar Index Weekly H-L-C In our update in early October we speculated: The big question is, could we be looking at an intermediate and perhaps even longer term high in the US Dollar? One indicator is that there was critical timing indicated for September 23rd to the 26th for all the financial … Read more
TECHNICAL ANALYSIS The DJIA spent the entire week in negative territory, closing down 2.77% or 953.4 points. The hourly chart is showing a rounded top formation as prices react to frothy sentiment the past two weeks and a cacophony of negative headlines coming from America’s major ‘corporations.’ Prices ended at the bottom of the weekly … Read more
TECHNICAL ANALYSIS The major market indices have been in a schism since the summer lows. For decades now, the consensus axiom is to ‘never fade the blue chips.’ That said, the past years have proven that absolutely nothing adheres to ‘norms’ with fund managers continuously underperforming the general indices. The Dow Jones has continued to … Read more
TECHNICAL ANALYSIS VIX Daily The DJIA closed the week up 1.6% in a whipsaw trade that saw the cash index hit a new intraday low for the entire decline from the highs…then testing the previous weeks highs, prior to losing ground on Friday to settle down 404 points. The S&P, Nasdaq and the FAANG all … Read more
TECHNICAL ANALYSIS The US Dollar has nose-dived and spiked off the recent highs after prices pulled up just shy of the long-term monthly targets outlined in the last update at 11676/11939. The current intraday high print is 11477, set last Wednesday, and since then the market has swooned…retracing over 62% of the rally off the … Read more
TECHNICAL ANALYSIS The DJIA saw a minor reprieve form the selloff in the critical timing window outlined in the last update and plunged again late in the week to close down 2.93% for the third straight week of steep declines on the weekly. For the month of September, the DJIA was down 8.84%…the worst monthly … Read more