March 26, 2015: A maturing consolidation range is at a critical inflection point and at risk of breaking down.
A maturing consolidation range is at a critical inflection point and at risk of breaking down. Onus on Buyers to protect prices otherwise a more pronounced corrective phase will develop. Perhaps month end seasonality will assist Buyers?
March 24, 2014: Sellers return to tentatively regain control after last Friday’s breakout attempt failure.
Sellers return to tentatively regain control after last Friday’s breakout attempt failure. An ominous Double Top pattern is developing with the onus on Buyers to rescue prices otherwise a renewed corrective phase will overwhelm month end bullish seasonality. Prudent investors/trades will stand aside until the current corrective range is resolved.
A volatile options expiration frustrates both Buyers and Sellers. SPX remains in a defined consolidation range with the final resolution to determine the direction of a durable trend. End of month seasonality slightly favors Buyers and a possible breakout higher. However, prudent investors/traders will wait for confirmation. Until then, speculative participants may continue to consider […]
Sellers failed to follow thru lower after Wednesday’s FOMC induced sell-off allowing for Thursday’s relief rally and bounce back within a defined consolidation range. Resolution of this pattern is likely to determine the durability of a weakening corrective phase.
Market participants “Sell the News” following Wednesday’s FOMC announcement. However the late session rebound claws back to retain the first levels of moving average support. Onus on Buyers to retain support, otherwise a developing consolidation range will resolve lower and the current corrective phase will resume with the 50 day moving average the next target.
Equity indices light volume rebound continues as Sellers remained sidelined ahead of Wednesday’s FOMC announcement and Friday’s option’s expiration. As financial market event/headline risk is elevated, prudent investors/traders will stand aside and wait to process the reaction until these uncertain events have passed.
Sellers take a breathier as SPX bounces back to relieve oversold conditions.
March 14, 2014: SPX weakness continued as market participants remained defensive ahead of weekend uncertainty.
SPX weakness continued as market participants remained defensive ahead of weekend uncertainty. Friday’s “lower low” price defines a developing corrective phase, but a reflex bounce is anticipated at any time to relieve extreme oversold conditions. Quality of any future rebound will determine if/when prices descend to test the widely watched and probably well defended 50 […]
March 13, 2014: Buyers rush to the sidelines and Sellers return to take charge as SPX succumbs to market participant anxiety.
SPX succumbs to extreme international uncertainty as Buyers rush to the sidelines and Sellers return to take charge. Prices are now at extreme short term oversold levels with the quality of an inevitable reflex rebound to determine the durability of a developing corrective phase.
Buyers enter on cue to rescue SPX at appropriate prices supports. If Sellers are unable to thwart follow thru buying, Buyers will retake control once again.