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.
Financial market participants continue to mark time awaiting the outcome of Friday’s Non-Farm Payroll report. The reaction to the report will determine the direction of the short term trend. Unless layers of support are violated with robust volume, throwbacks to test support should offer buyable trading opportunities.
Equity indices take a break following two successive session of extraordinary volatility. The resulting extremely narrow range “Doji” pattern normally resolve in the direction of the prevailing trend. However, Friday’s reaction to the Non-Farm Payroll report will be the final arbiter.
Prices succumb to Russian/Ukraine tensions awaiting further clarity. As long as layer of moving average support are not violated, the current ascending trend remains intact.