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Jason Ruchel


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Weekly Market View 12-3-23

The SPX closed +0.8% higher for the week and extending the strong advance from the late October lows now printing a 5th straight week of gains, and it has not seen 6 straight weeks of gains during this decade so far as the last occurrence was in late 2019. The SPX...

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Weekly Market View 11-26-23

The SPX closed the holiday shortened week up just about another +1% in a lower volume melt up that saw most of the gains on Monday early on hitting the 4550 SPX level and about 455 on the equivalent SPY. The bullish November surge is now up a remarkable +9% on the...

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Weekly Market View 11-19-23

The SPX closed the week higher again by +2.2% and above the large 4500 strike level as November OPEX week played out with a bullish lean highlighted by a nearly 3 sigma surprise move higher on CPI Day. The market now hitting the early September highs and fairly close...

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Weekly Market View 11-12-23

The SPX closed higher on the week by another +1.3% and all the move coming Friday after a largely sideways range most of the week held firmly above 4350 and grinded higher on any real dip as many participants have missed the move and will now likely be eager to take...

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Weekly Market View 11-5-23

The SPX closed higher by nearly +6% on the week that saw some of the strongest one-sided buy side pressure in recent memory. Breadth confirmed the move with strong breadth thrusts occurring that tend to mark major multi month bottoms and the VIX collapsed by nearly...

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Weekly Market View 10-29-23

The SPX closed lower for the week by -2.4% after an early week post OPEX rebound found resistance just before the 8 EMA and finally tested that one-year POC and VWAP into the 412 SPY zone. The chart below shows SPY instead of SPX to see the volume profile and how...

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Weekly Market View 10-22-23

The SPX closed lower for the week by -2.4% after being up about 1.5% into Tuesday before the midweek reversal took hold and continued selling into options expiration combined with rates staying elevated with weekend war headline risk being on the minds of investors...

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Weekly Market View 10-15-23

The SPX closed higher for the week by +0.5% even with the selloff on Friday to give back gains and sentiment extremely pessimistic due to world events and falling bonds. The market continues to carve out a bottom from the recent late September lows and prices may try...

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Weekly Market View 10-8-23

The SPX closed Friday sharply higher after making new lows midweek and see buyers defend the 4250 zone of support multiple times. The bullish engulfing candle to finish the week closed price back over the key 4300 level and 8 EMA with the 21 EMA the next hurdle to...

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Weekly Market View 9-24-23

The SPX closed sharply lower for the week down -3% and the first weekly close below the 21-week EMA since mid-March. That level currently is at 4362 and the 8-week EMA at 4420 so likely stiff resistance on any rebounds short term. The SPX has a clear breakdown in...

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