Doug Sooley 
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 …
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 …
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 …
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 …
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, …
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 …
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 …
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 …
TECHNICAL ANALYSIS The DJIA opened lower, in a shortened trading week, and never looked back…with prices plunging -2.98% and ending on the bottom of the week’s range at the lowest weekly close since the end of October 2022. On the daily chart, the close is the lowest since December 20, 2022. Overall, the market is …
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 …
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