Tag: IWM

S&P Retesting Main Resistance

[vc_row][vc_column][vc_column_text]My apologies for the long wait between posts. I went out with some friends for the first time in two years on the first weekend in March and caught COVID, which has taken a while to clear. That wasn't too bad and I'm clear now though I'm still feeling low on energy. Hopefully that will...

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Tag: IWM

Awaiting SPX Low Retest

[vc_row][vc_column][vc_column_text]In my post a week ago I was saying that SPX was back on the Three Day Rule, and on the third day SPX closed clearly back below the 5dma, triggering the rule. That means there is a very high probability that the 4114.65 low will be retested in the near future. SPX daily 5dma...

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Tag: IWM

Bear Necessities

[vc_row][vc_column][vc_column_text]Unfortunately the week has become dominated by the news relating to the possible imminent invasion of Ukraine by Russia. At the time of writing there has been no invasion, and the consensus view this morning seems to be that there is no credible sign that Russia is backing down yet either. We'll see, but news...

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Tag: IWM

A Valentine’s Day News Massacre

[vc_row][vc_column][vc_column_text]Equity indices failed as I was expecting on Friday, but not necessarily for the reason that I was expecting, as it may have been primarily a news reaction to the alert from the US government that Russia is preparing to invade Ukraine within the next few days. These came as unexpected news to many, possibly...

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Tag: IWM

Testing The Weekly Middle Band Again

[vc_row][vc_column][vc_column_text]I was saying in my last post before the open on Tuesday that if SPX kept testing the daily middle band as resistance every day then another attempt to break back above it was likely and we saw a modest close back over the daily middle band at the close on Tuesday. That followed through...

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Tag: IWM

The January Barometer

[vc_row][vc_column][vc_column_text]I've been promising a post talking about the January Barometer, which is a statistic from the Stock Trader's Almanac, something that I have been buying every year for many years as it has a lot of very useful information for traders and investors. This statistic looks at all Januarys that have closed down since 1950...

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Tag: IWM

Possible Topping Action Here

[vc_row][vc_column][vc_column_text]I was looking at the resistance trendlines on SPX and NDX last week and while I was off on Friday SPX tested the resistance trendline there. Of those four signals, only ES hasn't yet made the possible near miss target, though it isn't far away, and may well reach that this morning without declining much...

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Tag: IWM

Still Testing Strong Resistance

[vc_row][vc_column][vc_column_text]SPX has made new all time highs as expected and has gone to the resistance level I was talking about in my post a week ago. In the meantime though that trendline has risen and looks to be in the 4465-70 area now. There is no need to test that trendline, but it is strong...

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Tag: IWM

What If … We See SPX Retest 3800

[vc_row][vc_column][vc_column_text]Everything is in the groove from my post yesterday. NDX and ESTX50 made new all time highs yesterday. SPX and Dow made new all time highs today, RUT retested the August high today, making the second high of a possible double top. Only DAX looks slightly short of a new all time high but that...

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Tag: IWM

Retesting Strong Resistance Here

[vc_row][vc_column][vc_column_text]SPX and NDX held the strong resistance they were testing a week ago, retraced a bit, and are now close to testing them again. I have been expecting new all time highs on both, and NDX has made a new all time high today, but SPX is still a bit short and likely needs to...

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