Doug Sooley 
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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