Chartology

S&P 500 Futures Clinging To Key Support; Battle Lines Drawn

Yesterday was an aggressive day of range-bound trading that left traders battling at lines of major congestion between 1902 – 1907 on S&P 500 futures. With moving averages flat and momentum neutral, the charts should continue to swing from buyers stepping in near 1896-1900 and sellers stopping the advance near the…

Cocoa Futures Setting Up For A Tactical Bounce Higher

If you’re on the sidelines in the equity market, or don’t necessarily have much conviction long or short at current levels, Cocoa futures may be the non-correlated trade setup you’re looking for. There’s no clear edge in terms of sentiment or seasonality, but the price action suggests that a tactical…

Russell 2000 ETF (IWM) Should Resume Decline Soon

As the stock indices have become more volatile in recent weeks, we have been updating our charts and targets. This post offers a quick snapshot of progress in the iShares Russell 2000 ETF (symbol IWM). The pattern analysis also applies to the Russell 2000 index itself. In the larger picture,…

Alphabet (GOOGL) Hits Wave 5 Price Target: Upside Limited

Google’s stock, now known as Alphabet (GOOGL), posted a strong performance in 2015.  And its fast become one of investors favorite names in the large cap tech space. But after reporting solid earnings on Monday that sent the stock higher in after-hours, GOOGL reversed and headed lower Tuesday and Wednesday….

What January Says About Stock Market Returns In 2016

The S&P 500 declined -5.07% for the month of January, the 8th worst performing January since 1950. The index gapped down to open the month on January 4th and it never recovered. At the low of the month (1,812.29) the index was down -11.33%, the second largest drawdown in January’s…

Stock Market Futures Decline Into Key Price Support

Choppy trading in stock market futures marked Monday’s moves – with charts resting above resistance only to fade quickly overnight. News out of Europe and the East are weighing on the charts. The Morning Report: Futures Fade Lower; Test Key Support Area Support levels yesterday are now resistance for stock market…

Futures Market Outlook: Will Price Action Confirm The Rally?

The Index Futures Market – Big Picture  I always find it helpful to go back to the prior trading week and review the setups and what happened. Sometimes taking a step back allows us to better see where the market is situated and where stocks may be headed. I think this also…