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.
Buyers returned to the sidelines ahead of this week’s multiple known volatility events. Although end of month’s normally favor Buyers, prudent investors/traders are encouraged to stand aside and wait for better clarity and risk after this week’s Federal Reserve meeting announcement and Friday’s Non-Farm Payroll report reaction. Short term speculative traders may considers extreme short […]
SPX extends gains ahead of last week’s Good Friday market holiday. However next week, equities will not have normally bullish seasonality and option expiration related influences to support prices. Headline risk and general market dynamics will likely weigh on prices with a test of new moving average support levels (former resistance) anticipated. The outcome of […]
SPX Buyers make a stand and attempt to capture overhead moving average resistance following resolution higher of Monday’s “Inside” pattern. A daily close above a cluster of moving average resistance is imperative for Buyers, otherwise the current rebound is nothing more than a normal oversold bounce.