Equity markets begin the week pressing upon upper level resistance. Our internal quantitative analysis indicates that the broad market (SPX complex) is entering overbought price zones as well. A pause to digest gains and test lower support would provide the best opportunity to capture the upper boundary of a defined “Raising Wedge” technical pattern on […]
Volatile start to 2015 portends stormy days ahead in financial markets. Violation of January’s lows will pressure the prevailing ascending trend.
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.
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 […]