Technical Update 02-05-2023 DJI & S&P500

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. …

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Technical Update 01-28-2023 DJIA & S&P500

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 …

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01-22-2023 Technical Update DJIA & S&P

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 …

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Technical Update 01/15/2023 DJIA – S&P Cash

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 …

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DJIA Technical Update 01-01-2023

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 …

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12-18-2022 Soybeans

TECHNICAL ANALYSIS Spot soybeans have been in an up channel since setting lows in critical timing in early October. The daily spot chart has been flashing a preliminary bearish divergence with the past two weeks’ highs at 1492.25 and open-interest has been creeping slightly higher during this period. Nearby JAN soybeans (SF23) have been in …

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DJIA Technical Update 12-18-2022

TECHNICAL ANALYSIS The DJIA traded a massive outside week down with prices setting a new trading high Tuesday and then swooning 2057.7 points to close in the bottom portion of the week’s range for a total decline of 1.66%. As we pointed out in last week’s update, the hourly chart was showing a rounded top …

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US Dollar Technical Update 12-10-2022

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 …

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DJIA Technical Update 12-09-2022

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 …

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