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 …
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 …
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 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 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 …
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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