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Jason Ruchel

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Weekly Market View 10-6-24

The SPX closed higher on the week by +0.35% after the strong Friday rally confirmed a lot of the bullish market breadth seen midweek as prices came back to test near the 21 day EMA of 5650 or about 565 on the SPY chart below. This is now 4 straight positive weeks for...

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Weekly Market View 9-29-24

The SPX closed slightly higher for the week yet again by +0.6% as the major averages sustained a one-time framing grind higher holding above the rising 8 day EMA currently at just above 5700 and would be the first sign of a pullback starting if prices closed below...

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Weekly Market View 9-22-24

The SPX closed higher again this week by +1.3% as stocks stayed resilient into and after the FOMC meeting and first rate cut in 4 years. SPX hit fresh all time highs at 5733 Thursday before seeing a pause Friday but overall holding firm near 5700 into monthly...

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Weekly Market View 9-15-24

The SPX closed strongly higher by +4.2% on the week with all five trading days finishing in the green, an impressive rebound from last week’s selloff that was fully regained and supported by solid market breadth and a declining VIX. Last weeks selloff as noted came...

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Weekly Market View 9-8-24

The SPX closed lower by over 4% in the week in a rather unexpected reversal to start the month after closing the prior week at nearly new highs. Price action clearly now has work to do to regain its short-term moving averages as a first objective with the 8/21 EMA...

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