S&P 500 Nearing The Upper Limit of Regression Channel

The 65 Thousand Feet View Last Update on Tuesday January 2, 2018 The S&P 500 is marching, with nary a worry, to the beats of technical patterns. It is approaching the upper limit of a regression channel (78 months and 0.5 standard deviation) on monthly chart (see Fig. C). From February to September 2017, the index  moved up along the linear…

S&P 500: 65 Thousand Feet View

Monthly Chart Analysis Current Status: Last Update on Tuesday August 01, 2017   Current Trend: Confirmed Uptrend Last Pattern: Double Bottom (or horizontal Channel) (broken out in July 2016) Previous Pattern: Rectangle (broken in Apr-13) Current Streak: 4 Up months Last Six Months 5 Up months Last High 2484.04 (Jul-17) High Month Low Month Last Swing 2193.81 Aug-16 2083.79…

S&P 500: 65 Thousand Feet View

Monthly Chart Analysis Current Status: Last Updated on Wednesday January 04, 2017 Current Trend: Confirmed Uptrend Last Pattern: Double Bottom (broken out in Jul-13) Previous Pattern: Rectangle (broken in Apr-13) Current Streak: 2 Up months Last Six Months 3 Up months Last High 2277.53 (Dec-16) High Month Low Month Last Swing 2193.81 Aug-16 2083.79 Nov-16 Previous Swing 2116.48…

S&P 500: 15 Thousand Feet View

Weekly Chart Analysis Updated on Thursday November 3 2016 Many jitters are hitting the market – U.S. presidential election, Fed-Fund rate hike expectations – at the same time. On daily time frame the index has reversed the trend. On weekly time frame it has fallen below a previously broken resistance level – the high of 2015. On November…

S&P 500: 65 Thousand Feet View

Monthly Chart Analysis Current Status: Last Updated on Thursday November 03, 2016 Current Trend: Uptrend Under Pressure Last Pattern: Rectangle (broken in Apr-13) Current Streak: 3 Down months Last Six Months 3 Up months Last High 2193.81 in August 2016 High Month Low Month Last Swing 2116.48 Feb-16 1810.10 Nov-16 Previous Swing 2134.72 May-15 1867.01 Aug-15 Pivot:…

Fed – The New Gas Station

Exit of ‘Helicopter Ben’ from the Federal Reserve hasn’t affected the general trajectory of US monetary policy. One of the architects of Fed’s quantitative easing and subsequent tapering strategy is now at the helms. If any one had doubts about Chairwoman Janet Yellen’s intentions of continuing with the easy monetary policies then this week’s FOMC Statement and press conference dispelled them.…

Forex Watch – Did Godot Come?

Wednesday June 18th FOMC statement and the press conference did not muddy the water much but it also did not allay all fears and concerns. The Fed has stuck to its plan tapering to wind down its bond-buying program by the year-end and then start raising interest rates some times early next year. That was good…