Technical Analysis
S&P 500: Are we going to ding dong again? $SPY
Markets did a good job in recent days breaching the lower tops and going above the 50 day moving averages. Right now, we have a resistance at 1220 or so where the markets were unable to move higher. The amusing thing is that the markets retreated yesterday night from a high of nearly 2%. Breadth [...]
S&P 500 Next Week: Another Week of Lower Lows?
Not sure whether it is a coincidence but US market did an about turn at the end of the trading day going below the 20 day EMA. The question is whether the bulls have what it takes to make higher highs. If it follows the lower lows, we could see 990. That will be a [...]
S&P500 Touches the important 1100 level
We touched the 1100 level today. I thought today will be a low key affair when we went to sleep. That was a rude awakening. Anyway we will see if there is a follow through tomorrow at night. Not a good time to short that’s my feel.
Long Term Market Analysis: Bulls need a strong countertrend
Drizzt: long term market analysis is a series once or twice a month where we take a look at longer term trends in the market to get our bearings right on the general direction of where market prices is going. S&P 500 Monthly STI Monthly I will try to keep this short as I don’t [...]
S&P 500 Short Term Rally fails $SPY
Just like what I talked about yesterday, the inability to stay above the 20 day EMA seems to signify a change in short term trend. Today the market tried to rally higher but failed. If we move lower tonight and tomorrow, we revisit that question since August: Will 1100 hold? For those interested in tracking [...]
