E-Mini Says Today Is Different

Monday, May 23rd 106, was a range bound day for the U.S. equity market. S&P 500 fluctuated between a high of 2055.58 and a low of 2049.06 before breaking down in the last half-hour of NYSE trading to drop to 2047.26. In the process a symmetrical triangle was formed on 30-minute time frame. This shows an…

A Bullish Flag is Emerging In S&P 500

S&P 500 has been on a roller coaster ride since November 2015. First it meandered along for a while to close the year. Then it dropped like a rock to start 2016. Then, it staged a turnaround to recover the lost ground before getting into some headwinds. But, now it is forming a bullish flag(i). The October 2014…

Extended Stay America

Late last year, the US market bottomed on November 16, 2012. Since then it has been powering higher defying all odds. During this time – 196 calendar days or 134 trading days – the index has not had a significant pullback. Before last week’s decline, it had only three shallow pullbacks averaging -3.43% and lasting…

NYSE Composite Has Catching Up to Do

US stock market has run through many resistance levels created over the last decade and is at a very high level. Most of the broad market indices are either at all time high or much higher than the pre-financial-crisis level achieved in 2007-2008. Dow Jones Industrial Averages, S&P 5oo are at all-time highs. So are…

Market Set To Make A Reversal

Friday, November 16, 2012, saw major US indices make reversal days. Almost all – Dow Jones, S&P 500, NASDAQ and Russell 2000 – had outside reversal days. Dow and Russell 2000 also made bullish engulfing candles. In outside day pattern the high of the day is higher than the previous day’s high and the low is lower…

Around The Net In Ten Posts – Tuesday August 21, 2012

Here is what I am reading: Meredith Whitney’s Muni Prediction Gets No Boost From Fed (Bloomberg) Stocks breakout on higher volume (MarketWatch) Who’s Lying: The Rally or the Sell Signals? (Minyanville) $DJIA Going For Seven Straight & A Short Video on Cycles (Stock Trader’s Almanac) Our Largest Ever S&P 500 Chart! (Don’t Ignore This Chart)  The…

Market Action – July 25, 2012

The US equity markets had a mixed performance on Wednesday July 25, 2012. Tuesday was a big down day continuing the trend that started on last Friday. During this time the S&P 500 lost -2.78%. The global equity markets also did not fare well and Global Dow index (GDOW) lost more than -4.00%. Overnight’s global…