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.
Sellers take a breather after two successive sessions of blood letting allowing Buyers a chance to recoup some losses. Significant overhead resistance awaits at a cluster of moving averages. The light volume bounce is a concern with follow thru higher required to validate a sustainable rebound. What’s more, resolution of an indecisive “Inside” pattern will […]
Sellers are relentless as the cascade lower continues. Multiple layers of critical support have been violated with Monthly Implied Volatility Band support a likely target for an inevitable oversold reflex rebound. The quality of the next retrace of the sell-off will determine the direction of the next durable short/intermediate term trend. Looking over the horizon, […]
Sellers take a break as Buyers move in to rescue SPX at critical 50 day moving average support.