Major Indices

Stock Market Technical Update: Trajectory Lacking

The major stock market indices all broke out of complex inverse head-and-shoulders formations early this week. And based on the size of these bullish patterns, they could have additional upside in the near term. Yet I’m still bothered by the non-traditional and trajectory lacking potential double bottom. Whether this comes…

Nasdaq Composite: Will The March High Mark A Goodbye?!

The month of March has produced some major turning points for the Nasdaq Composite over the last 20 years. The Nasdaq topped in March of 2000 and bottomed 9 years later in March 2009. Is it possible that 9 years after the major bottom, we put in a major top…

Commodities Compression: Price Nearing A Decision Point!

The commodities space has dealt investors a difficult hand over the past decade. Back in 2010/11, the Thomson Reuters Equal Weight Commodities Index peaked following a fast and furious move to the upside. Since then, Commodities have been a mess. Failed rallies and rangebound trade have caused frustration across crude…

S&P 500 Futures Trading Update: Pullback Should Find Buyers

Broad Stock Market Futures Outlook for April 18, 2018 Solid earnings continue to present, Yemen missiles and API drawdowns in inventories have the indices we watch moving into higher resistance once again. These are all key levels of profit taking but there are no setups for short action at this time as…

S&P 500 Futures Trading Outlook: Price Targets In View

Broad Stock Market Futures Outlook for April 17, 2018 Higher lows prevailed to give us higher highs as buyers push us into regions not seen since mid-March in solid earnings releases.  Resistance watches are still the order of the day as momentum holds bullish. How well we bounce off pullbacks will be the…

The Continuing Saga of a Range-Bound Stock Market

I’m often asked whether I’m bullish or bearish on a certain market. I always like to remind people that the market can go in three directions, listed in order from least painful to most painful: up, down, and sideways. You would think a down market would be the most painful,…

The Stock Market Is Holding Just Above Key Price Supports!

Stocks have been see-sawing and whipping around the past couple weeks, but one thing remains… Stocks are holding on above key price support across several stock market indices… for now. The chart below looks at 8 different stock market indices and where there respective price support levels currently lie. The…

S&P 500 Technical Update: Is A Bullish Pattern Forming?

This is a 1-hour chart of the S&P 500, QQQ’s, Midcap’s (MDY), and Russell 2000 (RUT). All of these key stock market indices are tracing out potential complex inverse head-and-shoulders (H&S) price patterns. The Russell 2000 (RUT) has poked its head above the neckline while the others are right at or right…