S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Candlesticks are indicators – no guarantees.  Bollingers are squeezing and trying to break out, but appear to be failing.  Momentum under MACD is fading.  And we are at all time highs as the global economy continues to stall/shrink (depending on whom you believe).   So it’s now a waiting game – after the Fed gets out of the way – we should see downside.  Since markets are forward looking, October POMO should not be a factor in moving markets higher.  We are watching these indicators, the diverging RUT and the steadily rising VIX in the face of all time highs – all strong signs of a market that is getting ready to tank.

Click on chart to enlarge S&P500 Daily Shows Another High Wave Candle – More Indecision

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

We were wrong about a pullback early in the week.  Could see move lower into the end of this week.  During Yellen’s ramble, markets moved to extremes, but settled near the open.  Yellen said no more POMO by October 31 and a cut to $15B for next month.  REPO is live and well and will be used by the Fed when they deem it necessary – usually the end of the quarter – the last card to play for the Fed, for now.  The key today was the rocket up move in the USD and the rise in yields, notably the 10 year.  A rising USD continues to put downward pressure on markets.

Click on chart to enlarge S&P500 Daily Finishes Wild Ride Day Showing Indecision – Could See Move Down Tomorrow

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge S&P500 Daily Down Marginally As We Prepare For Another Bounce Up – That Won’t Last Long

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Lots of lower shadows over the last 10 days of trading.  There’s still buyers out there, but there impact is fading.  Technicals are mixed.  We should see a small move up on Monday, maybe on Tuesday too before the big move down occurs.  We closed below channel support again today – sign of market weakness.  Cycle brackets indicate a short move up before we roll.

Click on chart to enlarge S&P500 Daily Falls Breaking Support In The Process – Bounce Early Next Week Before The Big Fall

S&P500 Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

While the USD has slowed its near vertical ascent, US indexes have not responded by pulling back. This can take time – referred to as lag – and often occurs to what should be mechanical but doesn’t always work that way.  Technicals are mixed.  MACD shows downside.  Hourly tells a clearer story.

Click on chart to enlarge S&P500 Daily Bounces Back To Channel Resistance – Indexes Still Lagging USD Move Higher
Page 1 of 7912345...Last →