Major Indices

Stock Market Triple Top? Perhaps On This Broad Index!

The stock market has been on shaky ground the past week or so. But this pullback is overdue, considering the big rally this spring. So this could be bullish consolidation… or it could be the initial stages of a bigger pullback. A potential stock market triple top on the Valu-Line Geometric…

S&P 500 Pullback May Set Up Rally To 2300 to 2500

The great thing about being a market technician today vs. less than ten years ago is instant access to the crowd. That is, social media. As I hope most of you know, I post somewhat regularly on Twitter. I also analyze the market mood on Twitter and, right now, the…

S&P 500 Trading Pivots Target Lower Prices For June

Just when everyone and their dog was getting bullish about retesting the all time highs, a pullback begins to take shape.  Happens every time. This is why I block out the noise and focus on the S&P 500 trading pivots (along with pivots for other major indices and stocks). The…

Dow Jones Utility Average Overdue For “Major” Correction

Are you watching the Dow Jones Utility Average? Well, you probably should be.  Utilities have been a strong sector, especially off the recent market bottom for stocks. Below are a couple of charts showing the 3 drives higher.  Both are similar but get at the same points.  Utility stocks appear to…

S&P 500 Declines Into April Highs: Will This Support Hold?

That’s a great question.  No one knows with any certainty which is why we follow the price action and (indicators related to price). They help investors manage risk/reward. The S&P 500 chart below was shared this morning on my Twitter feed this morning with the following comment: “S&P 500 testing…

Dow Jones Megaphone Pattern Defines Risk On / Off

Below is a chart of the Dow Jones Industrial Average going back to the 1950’s using monthly closing prices. It highlights two important Dow Jones Megaphone patterns that developed during that time. But, as you can see below, both patterns have seen breakouts. More recently, the Dow Jones Industrial Average broke out above…

Can The Russell 2000 Index Rally Past Major Resistance?

The Russell 2000 Small-Cap Index is presently running into a confluence of key resistance points. Can the Russell 2000 Index rally past this level? We’ve talked quite a bit about the importance of the rotation that we’ve seen in the stock market since the rally kicked off in February. Specifically,…

S&P 500 Trading Update: Will Lower Support Levels Hold?

Today’s trading outlook looks at S&P 500 futures, Nasdaq futures, and Crude Oil futures  for June 3, 2016. Focusing on S&P 500 futures, we see that the market moved higher into the employment numbers. My thought is that if the number is a negative surprise, the dip will be into support…

Market Breadth Indicator: Large Cap Stocks In Favor

It’s been a tough market to figure out for traders. And with so many pieces of research that work both for and against market bulls and bears, it’s apropos that the stock market has been stuck in a trading range. Today, I’d like to look at another slice of the research…