Major Indices

S&P 500 Futures Trading Outlook For December 2

Stock Market Outlook for December 2, 2016 – The job numbers are released today at 8:30am ET and will provide volatility. Critical price support levels for the S&P 500 (INDEXSP:.INX) were broken yesterday. And this morning we tested our final target of the short for the setup in yesterday’s blog….

S&P 500 Update: This Bull Is Strong But A Pullback Is Nigh

Despite all the hoopla and fireworks, the S&P 500 Index (INDEXSP:.INX) has only seen a minor break to new highs. In fact, I wouldn’t even call it a breakout yet as I’d like to see the prior high exceeded by 1% for two consecutive days. The prior high was 2193.81…

S&P 500 Triggers Point and Figure Double Top Buy Signal

Today I want to take a look at the S&P 500 Index (INDEXSP:.INX) through the lens of Point & Figures charting. This week’s advance triggered a point and figure double top buy signal (bullish), confirming the broader trend higher. Note that this is a “macro” signal; now a short-term trading indicator….

S&P 500 Chart Update: Time And Price Aligning At 2200

Back on August 10, I wrote a post here about the importance of 2200 on the S&P 500 Index (INDEXSP:.INX). It turned out to be a significant price resistance level for the stock market then. And it is once again setting up to be key price resistance level now. In that post,…

Russell 2000 Rally Stretched: Time For A Pullback

We’ve seen a pretty ridiculous move in small caps, as measured by the iShares Russell 2000 ETF (NYSEARCA:IWM). The Russell 2000 rally has helped to push the major stock market indices to new all-time highs… but it’s getting pretty stretched out. Price is in desperate need of a slope reset as…

S&P 500 Chart Update: Is A Thanksgiving Week Pullback Coming?

S&P 500 Futures – Chart Insights The S&P 500 (INDEXSP:.INX) looks to be forming an ending diagonal of sorts on both the cash index and the futures.  Note the chart above is futures. This type of pattern forms when higher highs and higher lows create a triangle-like pattern – this has…

Russell 2000 Futures Rally Update: The Slingshot Candlestick

Russell 2000 Futures: Some Perspective On The ‘Trump’ Spike Lows All major U.S. stock market indexes have been on a tear since the election night reversal. But one that really caught my eye was the Russell 2000. Looking at the Russell 2000 futures chart below, you can see that big ole…

S&P 500 Update: Will 2120 Fibonacci Pivot Resistance Hold?

Last month I wrote two pieces on the importance of the Fibonacci Yr1 pivot point at 2120 S&P 500 (INDEXSP:.INX). The first post highlighted its importance and the second post showed why it may break down (head & shoulders pattern) and where we may be headed next. This past week price…

S&P 500 Futures Trading Outlook For November 7

Stock Market Outlook for November 7, 2016 – Support levels near 2084 gave us the battleground for much of Friday. The gap last night that currently holds, gives us an unusual shift in movement under damp momentum. The bounces will likely be sold at the first test as there are…

5 Important Market Charts From Today’s Trading Action

Friday’s trading session began with an oversold bounce.  Although the markets weren’t near correction territory, they had been seeing a lot of selling lately.  The S&P 500 Index (INDEXSP:.INX) was down 8 days in a row coming into Friday. So a bounce felt overdue. Well, the S&P 500 kept its streak alive….