Category: Indexes

Thanksgiving Thoughts – Longer Term

I was going to do a longer post today but I've decided to split the post in two, covering the longer term in this post and looking shorter term in a follow up post to be published tomorrow. In my last post I was looking, among other things, at the SPX monthly chart and noting...

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Category: Indexes

So Here We Are

Firstly my apologies for the wait since my last post. I'm currently getting divorced, which isn't much fun, and the presidential election was so polarising in the US that I was getting the impression that if I mentioned that the weather was getting chillier as the season changed, then some would feel that was a...

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Category: Indexes

Onward and Upward

Last week I was looking at the IHS patterns that had broken up on SPX and NDX with targets at retests of their respective all time highs. We've seen some retracement this week but overall nothing has changed and I am still looking for the same targets, though the retracement has given more form to...

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Category: Indexes

In The Inflection Point

I was looking at the inflection point setting up here in my post yesterday and it is now fully set up and looking good. At this stage I am looking for either a break up towards a retest of the all time highs on both SPX and NDX, or a hard fail that delivers new...

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Category: Indexes

Mundane Objects

Well I tried to talk about face masks and COVID-19 in my last post and that was my least popular post in years. I would note from the responses that wearing a mask is primarily for the protection of others from those infected with COVID-19, so wearing one is not so much a matter of...

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Category: Indexes

The Masks We Wear

I'm planning to drop some COVID-19 info and updates into some of my posts, hopefully in a way that won't get people thinking that I'm taking a position in the US election, as it is of vital interest for the economy going forward, and there was a time when that mattered for stock markets too,...

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Category: Indexes

Rally Time

My apologies for this being the first post in a couple of weeks. Hoping to get this back to a couple of posts a week now. I've been avoiding discussing COVID-19 much in recent months as it is very much an election issue in the US and that's not a conversation I really want to...

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Category: Indexes

First Retracement Target Hit

In my last post a week ago I was remarking at how very stretched SPX was and how near it should be to a mean reversion move, and the mean reversion high was then made within a few minutes of my publishing that post. The minimum target for that mean reversion move, last reached after...

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Category: Indexes

Nosebleed Highs

The high earlier this year was at the main resistance trendline on SPX, starting at the low in March 2009, support at the low in 2010, broken as support in 2011 and then backtested as resistance then and several times since. The high yesterday was just shy of a full test and that has broken...

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Category: Indexes

SPX Approaches Main Resistance

SPX has gone through a lot of trendlines and divergence on this amazing move up, with the last lot breaking on the move over the 3350 area including the negative divergence on the daily RSI. SPX is very stretched here, has punched 100 handles over the monthly upper band, touched an amazing 7.1% above the...

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