Technical Update 09-23-2023 DJIA & S&P500

TECHNICAL ANALYSIS *Note: There will be no technical update next weekend. The next report will be October 7th. Major Indices Week of September 22, 2023 Stocks suffered sharp declines last week with the loss leaders being tech and secondary markets and the blue chips performing only slightly better. All major indices closed at the bottom …

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Technical Update 09-16-2023 DJIA & S&P500

TECHNICAL ANALYSIS Major Indices Week of September 15, 2023 Stocks closed out a volatile week lower, with all indices recording weekly losses and settling at the bottom of the week’s range. Prices reacted to the timing on Thursday which coincided with the past quarter’s Triple Witching. The weekly charts continue to work off overbought conditions, …

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Technical Update 09-09-2023 DJIA & S&P500

TECHNICAL ANALYSIS Key Technical Insights from the Major Indices in the Week of September 8, 2023 During the week, the stock market experienced widespread declines, with particular pressure on tech stocks and the Russell index. The S&P 500 saw a week of trading within a narrow range, closing closer to its lower end. Analyzing the …

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Technical Update 09-03-2023 DJIA & S&P500

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 …

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Technical Update 08-20-2023 DJIA & S&P 500

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 …

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Technical Update 08-11-2023 DJIA & S&P500

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 …

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Technical Update 08-06-2023 DJIA & S&P 500 & BRKA

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 …

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Technical Update 07-29-2023 DJIA & S&P 500

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 …

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Technical Update 07-01-2023 DJIA & S&P500

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 …

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Technical Update 06-24-2023 DJIA & S&P500

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 …

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