The S&P 500 is being squeezed into a classic ‘pennant’ formation, which often results in a significant ‘pop or drop’ as the up and down trend lines converge. The Nasdaq has a more bullish ‘ascending triangle’ pattern where the upward trend line squeezes the price action up against the horizontal resistance, often resulting in a…click to read more.

The key support levels have held in the U.S. Markets as the S&P 500 jumped over 1% AND closed near its high in the aftermath of the Fed decision to keep rates unchanged at the September meeting.  The broad market price action is now in the middle of the range that began in early July. …click to read more.

A choppy few trading days has brought the S&P 500 to the low end of its 2-month range, and below the 50 day moving average.    The Nasdaq has had similar price action, but remains above the 50-day MA.  Most sectors are lackluster during this typically seasonally soft time of year.  The main source of excitement…click to read more.

The S&P 500 has been basing sideways for several sessions, and is grinding slowly close to previous all-time highs (and also potential resistance).  The Nasdaq is slightly stronger, having achieved a new intraday high in yesterday’s session.  Excitement surrounding the Apple I-phone and watch product announcement, combined with other strong industry groups such as semiconductor,…click to read more.

The August loss for the Dow Jones was the first since January, and for the S&P 500, the first down month since February.  For both, five out of the last six sessions have been down.  So that must mean we’re way down now, right?  Wrong.  Almost no change over the last six weeks, and for…click to read more.

The markets had their biggest down day in about 3 weeks, and despite the positive overall trends and short term sentiment, the enthusiasm is decidedly missing during these dog days of summer.  The bulls can argue that the grind up has been sustainably slow, and price action has been resilient on down days.  The bears…click to read more.

The S&P 500 was little changed this week a couple days removed from making all-time highs.  Most major industry groups are relatively flat, with energy, financials, industrials, and technology doing reasonably well in recent weeks; and utilities (having led the way most of the year), falling off the most.   Overall markets are in a gradual…click to read more.

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