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Weekly Technical Update: S&P 500 – Sunday, July 21
Image Source: PixabayIn this video, I talk about the recent signals the market has been giving that support the minor 3rd wave being complete in the S&P 500. I also update what to expect for the Globex opening, as well as the U.S. regular session opening on Monday.00:35:22More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, July 18Nasdaq […]
Wild Opex And Three Black Crows
Ever since Wednesday, Nasdaq found no respite with very few S&P 500 sectors providing refuge. Even Russell 2000 – one of my key picks for clients after CPI – started to undergo a healthy correction off very overbought levels. The fundamental backdrop of rates going lower and USD to ultimately follow suit too, has not […]
Long Term Outlook Of S&P 500 Nesting Higher
depositphotos On March 4, 1957, the Standard & Poor’s 500 (SPX) was introduced. The S&P 500 index has become synonymous with the term “U.S. stock market.” It is one of the leading benchmarks for the market, even though others, including the Russell and Wilshire indexes, are broader measures of the market. In this video, we are going […]
Another Gold Pop N’ Flop
Upon Gold’s record run this past Tuesday into Wednesday’s fresh All-Time High of 2488, we gave pensive consideration to entitling this week’s piece as “The Joy of Being Wrong”. After all, given Gold’s recent weekly technicals having been imbued with a rather negative bent, we’ve been prudently wary of a run down to test our oft-mentioned 2247-2171 […]
An Inflation Story
Reuters recently published a panoramic view of inflation over the past several years. depositphotos While the article titled “What Republicans won’t say and Democrats don’t like to discuss about US inflation” has political overtones, I took interest in the many charts as a fascinating inflation story. I recommend everyone give it a read. In the meantime, here […]
WTI Crude Oil Weekly Forecast: Bears Prevail As Triangle Nears Peak
depositphotos WTI crude oil price continued its downward trend that started on July 5th and settled at $78.57, its lowest point since June 17th. WTI crude oil dropped for the second straight week as concerns about demand returned. It started the week at $82.45, retreated to $80.20 on July 16th, bounced back to $82.90 on Wednesday, […]
Russell 2000 Explodes Higher As Rotation Takes Hold
Last week, we noted that the market did flip the previous “sell signal,” with stocks topping 5600 for the first time. However, that move also pushed the market back into extremely overbought territory, and the deviation from the 50-DMA is quite significant. depositphotos As noted: “Such suggests that, as we saw in late May and June, the […]
Currency Speculators Push British Pound Bets To Record High Weekly Speculator Bets led by British Pound & Japanese Yen Currency Speculators push British Pound bets to Record High Currencies Net Speculators Leaderboard Strength Scores led by British Pound & Australian Dollar Australian Dollar & British Pound top the 6-Week Strength Trends
Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).The latest Commitment of Traders (COT) data is updated through Tuesday July 16th and shows a quick view of how large market participants (for-profit speculators and for-profit speculators) were positioned in the futures markets. All currency positions are in direct relation to […]
Now Industrials
It seems hard to believe it was so recent, but the highest level for the Dow Industrials in human history was only on Thursday, when it reached the lofty 41,376 (keep in mind, this sucker was 6,469 during the financial crisis). It reversed over 1,000 points within hours, and at this point, the next success […]
Goldilocks May Have Made An Appearance To Ring The Bell At The Top
“Become more humble as the market goes your way.” Bernard Baruch Market Commentary:Major rotation continues; new leadership; valuation matters again? Which are the sectors with the greatest number of new highs? It is now energy, banks, finance, medical, and insurance – after being market laggards all year. The number of 52- week lows remained in the “safe” […]
