Chartology

Chart Spotlight: Value Line Geometric Index Breaks Out

The U.S. equity market saw a wide swathe of indices break out this week. Perhaps the broadest and most important breakout was the Value Line Geometric Index (INDEXNYSEGIS:VALUG). Wednesday’s rally on Wall Street led not only to new highs again among the popular large cap indices, but also to breakouts…

Futures Trading Outlook For Friday: S&P 500, Nasdaq, Crude Oil

Stock Market Futures Trading Considerations For July 21, 2017 The S&P 500 (INDEXSP:.INX) made new highs once more yesterday… but the broad market index is vulnerable to a pullback.  Any failed retests will likely give way to a move lower (and into deeper support levels).  See key futures trading levels…

U.S. Equities Update: S&P 500, Nasdaq Near Trading Price Targets

S&P 500 Futures Trading Outlook (2-3 Days):  Nearing ST Price Target (2470.5) I’ve been looking for a final push up to 2470-5 on S&P 500 Futures before looking for any type of correction to materialize. Tech is up against solid resistance and needs to be watched. Housing starts came in largely…

S&P 500 Futures Trading Outlook For July 19

Stock Market Futures Considerations For July 19, 2017 After a brief period of consolidation, the S&P 500 (INDEXSP:.INX) is attempting another move to the upside. On the futures market, 2470.5 looks like resistance. See more trading levels below. Check out today’s economic calendar with a full rundown of releases. And note that the…

NYSE Composite Breadth/Volume Still Favors Bullish Trend

An August 2016 analysis outlined a long-term bullish signal for stocks that has occurred only ten other times in the last thirty-five years. If we fast forward to July 2017, is market breadth/volume aligning with or contradicting bullish data we have in hand? The chart below shows up/down volume (1996-2010) for the NYSE Composite…

S&P 500 Futures Trading Outlook For July 18

Stock Market Futures Considerations For July 18, 2017 Traders need to be alert and ready at key trading levels following a day of consolidation for the S&P 500 (INDEXSP:.INX). Lower supports may come into play today. See all trading insights below. Check out today’s economic calendar with a full rundown of releases. And…

Treasury Yields Poised To Grind Upward

Last September, we showed the support area where we expected long-term yields to begin a possible reversal. Soon afterward, the index rallied from the zone and broke through initial resistance, but it has spent most of 2017 until now in a corrective retracement. Now it appears that rates may be…

Stock Market Futures Weekly Outlook: Trends In Motion

THE BIG PICTURE The VIX Volatility (INDEXCBOE:VIX) continues to trade below 10 as we head into week 29. Market history raises claim to such low levels as caution for the S&P 500 (INDEXSP:.INX) to retreat however it’s been wavering at these lows for weeks… and doesn’t seem to have spooked…

S&P 500 Futures Trading Outlook For July 14, 2017

Stock Market Futures Trading Considerations For July 14 Stocks continue to float higher as the S&P 500 (INDEXSP:.INX) eyes new all-time highs. For now, the June highs will serve as resistance. See key futures trading levels for the S&P 500, Nasdaq, and crude oil below. Check out today’s economic calendar with a…

Global Equities Trading Update: 3 Charts I’m Watching

Here’s a brief update on global equities for today.  But first, let’s review today’s economic data. Jobless Claims came in largely inline at 247k vs 245k, with continuing claims at 1945 vs 1950. PPI Ex Food and Energy is 1.9% vs 2% year over year. Layoffs in Autos are not…