Major Indices

S&P 500: More Rally Ahead? Watch This Level

This is the question.  Is there more rally ahead for stocks over the near-term?  As a technical analyst, I prefer to follow price. So let’s see what investors are looking at today and in the days ahead. The bounce from 1900 wasn’t entirely unexpected; myself and other technicians had been eyeing that level for several days leading up to the overnight puncture of 1900 on the e-mini futures heading into

A 10 Year Look At The SP 500 With Corrections

Let’s take a look at the S&P 500 from the beginning of the housing/financial fiasco in 2007 – 2008 and the following recovery; albeit Central Bank driven, numbers are numbers. We’ll also take a look at the corrections along the way. But, first things first, let’s take a closer look at what has come to be known as The Great Recession. Technically speaking, this took place from October 8th, 2007

Capital Markets Snapshot: Clouds, Blood, and Flows

Last Thursday’s overnight equity futures swoon and Friday’s subsequent recovery highlighted the recent injection of volatility in the capital markets. And with this in mind, I thought it would be helpful to share a handful of annotated charts I’m watching and analyzing that highlight some of the divergences, extremes, supports and resistances currently in play in the capital markets. Let’s review the charts and setups: S&P 500 Stays In the Cloud  

SP 500 Futures Bounce Higher – Where To Next?

Traders, it was a bit dicey at times, but the S&P 500 Futures (ES) forecast correction and support zone have held and prices are now above my long entry levels from August 1st (see end of article). I have updated the chart from Friday and now see a way to label it as a completed move lower in Wave (iv). Friday’s S&P 500 Futures Chart   Updated S&P 500 Futures Chart

Follow The Fibs: Is The Russell 2000 Targeting 1262?

In January of 2013 I took an interest in the strength of the Russell 2000 (RUT) and did some pretty simple chart analysis. Basically the RUT went from an uptrend channel to what I call a PUT, a Power Up Trend.  Now that price has fallen out of the PUT, but is still well within the uptrend channel, let’s dig deeper using Fibonacci analysis. Below is the annotated chart for the

S&P 500 E-Mini: Nearing Key Support Levels

The S&P 500 E-mini contract, the ES, is now reaching support levels that I’m watching closely. Let’s start with a full view of a 3 year daily chart. Since November 2011, the contract has moved up 917.75 points. Time for a correction? I would say it’s in progress now. In the S&P 500 E-mini chart below you can clearly see what a full blown bull market looks like.   Now,

S&P 500 Technical Support Looms Large For Traders

The stealth downdraft that occurred last week has offered little more than intraday trading opportunities for the nimble (and surgical). The added volatility has its benefits for traders of “both sides” but it isn’t for everyone. As I type, the S&P 500 is at 1920, roughly the mid-point of today’s range and just 9 points off the lows for this pullback. But price is nearing some important S&P 500 technical support

S&P 500 Technical Update: Will Opex Bring New Highs?

Another mini-pullback, another buy the dip rally? Monday’s price action felt a lot like more of the same. Although we won’t know until we get confirmation, the setup is in place.  Since the April lows, the S&P 500 has formed a nice channel that has seen 3 pullbacks (including the current one). The first mini-pullback was followed by a 93 point rally, while the second lead to a 60 point rally. But we

S&P 500 Update: BTD Stock Pullbacks In Focus

Since the February lows, stocks have seen several shallow pullbacks. Most pullbacks have lasted 2 to 4 days, while the lone outlier lasted 7 days.  This consistent patterning has shown up in longer spurts during this bull market and is otherwise known as buy the dip (or BTD). Looking at the chart below, 3 things stand out to me regarding recent pullbacks: 1.  Since the April lows, the market has twice

S&P 500 E-Mini Wave Analysis Hints Lower But Trend In Tact

While prices perked up after the intra-day lows on Thursday, I still believe another leg lower will unfold. With the S&P 500 e-mini trading marginally lower this morning, the forecast below seems to remain valid. But we need to remain open minded and should know more as Friday takes shape. It is worth noting, though, that wave 2 on the S&P 500 e-mini (ES) contract may have completed already. As well,