Major Indices

Stock Market Checkup: Levels To Watch On Major Indices

It’s been a rocky ride thus far for the major stock market indices in 2015. Just 3 weeks ago I wrote about the resistance levels for the Dow Jones Industrial Average (DJIA), NASDAQ Composite (COMPQ), S&P 500 (SPX) and the Russell 2000 (RUT). I purposely did that post at that particular time because all 4 major stock market indices were at what I deemed “make or break” levels. Simply put, they were

Chart Of The Day: NASDAQ 100 Closes On Key Support

Large cap tech stocks had a rough day. And no other index measures this as well as the NASDAQ 100 (NDX).  The NASDAQ 100 closed down 1.36% as shares of Apple (AAPL) fell 2.71%, while fellow tech titan Facebook (FB) dropped 2.23%. But what made the NASDAQ 100 so interesting today was its close at 4089, the third such trip to this level in the past month (this level also marks the September highs).

German DAX Closes Higher: But Chart Pattern Awaits ECB

The German DAX Index closed today up 1.38% at 9781.90 on the heals of hopes for a new and improved economic stimulus out of the ECB (i.e bond buying). But perhaps the larger story for traders is the current symmetrical triangle that is forming on the German DAX. This is when the price action narrows producing an equidistant and equi-angled triangle pattern based on the daily highs and lows. Often times,

S&P 500 Opens Lower: Where Will Buyers Show Up?

The S&P 500 opened the week lower, as futures reversed course into the cash session. But if the current Elliott Wave count that I have is correct, the selling should abate into the 2000-2023 support area on the S&P 500. Generally speaking, there is a likely long set-up for traders who are patient. First and foremost, let’s see how the noted support level at reacts to prices. If we see a positive reaction,

Russell 2000 Bounces; Traders Eyeing Overhead Resistance

Earlier this morning, several traders (including myself) noted that the Russell 2000 bounce was lagging other major equity indices. Why would this be important? The Russell 2000 Index (RUT) tends to be a good gauge of investor risk appetite because it is comprised of small cap stocks, which tend to be more sensitive to directional moves. For instance, if large caps stocks are outperforming small cap stocks, it could mean that investors aren’t

3rd Worst Santa Claus Rally Since 1950: Reason For Concern?

With the markets posting another year of solid gains, many investors relaxed heading into December. After all, the setup for December seemed to be ‘piece of cake’ with underperforming investors chasing returns into year-end, portfolio managers adding some dressing, and the impending Santa Claus rally. But what investors received was an increase in volatility and a not so “ho ho ho” happy Santa. The Santa Claus rally (defined as the last 5 trading

German DAX: Index At Critical Technical Resistance

European equities underperformed US equities in 2014. And much of that had to do with economic woes and deflation concerns. Will this continue into 2015, or will European equities change course and begin to perform better. Look no further than the German DAX for clues. This broad German equities index is fairly representative of mainland Europe due to Germany’s economic leadership role in the EU. As you can see in

Gauging The Stock Market Into 2015: A Look At The Technicals

Since Q1 2009 the stock market has, to say the least, been on an absolute rip higher! Will this continue into 2015? Personally, I think there’s more upside to this market, but before we take a look at charts, let’s look at some astonishing performance numbers. From the 2009 lows to the current highs, the Dow Jones Industrial Average (DJIA), NASDAQ Composite (COMPQ), S&P 500 (SPX) and the Russell 2000

Russell 2000 Signaling More Strength For Small Caps In 2015

The small caps have slowly creeped higher since bottoming in October and are now bumping up against annual highs and threatening to breakout. The best way to follow the small caps is the Russell 2000 (RUT). I posted about the Russell 2000 in August and November, offering analysis and targets for this critical gauge of market risk. For reference, my August article can be read here and the November article here. Here are

S and P 500 Futures Closing In On Next Target

I posted articles on the S&P 500 futures, the E-mini contract (ES) back in August and November, using my Fibonacci method to provide a status update for traders. Considering that the U.S. equity markets are once again at all time highs, it’s time for another update. So let’s go back and see how things have played out… and look at what may come. For reference, you can view the August post here