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Weekly Market View 10-24-21

The S&P 500 (SPX) marched higher for the third straight week and made a new all-time weekly closing high at 4536.50 as earnings season kicked off and concerns around Washington and China abated. Friday’s candle ended a streak of seven straight sessions highs and...

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Weekly Market View 10-17-21

The S&P (SPX) had its best week since July after pulling back to its monthly value low and rebounding. Short-term momentum is clearly behind the bulls after we cleanly broke back above the 8-, 21- and 55-EMA late in the week for the first time since early...

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Weekly Market View 10-10-21

The S&P 500 (SPX) held key support again this week at 4,300 before gapping back higher into monthly value and closing just below VWAP from the September highs. The late-week strength has shifted a lot of sentiment back towards the bulls but some things remain...

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Weekly Market View 10-3-21

The S&P 500 (SPX) suffered its worst week since late-February as we broke down under the key short-term moving averages and made new two-month lows. We closed just below VWAP for the week at 4355.25. Friday’s early weakness filled a low-volume gap back to 4,260...

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Weekly Market View 9-25-21

The S&P 500 (SPX) closed higher for the week with an impressive hammer reversal off the 21-week MA and VWAP from the May lows. The index kicked off the week strongly negative with sentiment around China’s Evergrande and tested a big low-volume gap at 4335-4250...

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Weekly Market View 9-19-21

The S&P (SPX) ended the week below the recent multi-day range as we continue to trade under pressure since hitting new highs earlier this month. We closed below monthly VPOC for just the second time since mid-May and tested the 55-EMA for the first time since...

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Weekly Market View 9-12-2021

S&P (SPX) closed the week poorly breaking below all of its shorter-term moving averages and looking at the rising 55-day moving average that aligns with the OpEx-week lows from May and July trend support near 4415 as potential support early this week. A bullish...

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Weekly Market View 9-5-21

It was a narrow week of trading for the S&P 500 (SPX) as we eked out another small gain and hit fresh highs on Friday after the jobs report. We closed above the 8-EMA again and without more evidence of larger sellers taking control, the path of least resistance...

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Weekly Market View 8-29-21

The S&P 500 (SPX) broke out to new highs last week after Friday’s comments from Jerome Powell. It was a quiet week leading up to the event. We continued to rebound off the 50-MA early in the week and then settled into a narrow balancing range above the 8-EMA....

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Weekly Market View 8-22-21

The S&P 500 (SPX) dipped back to its rising 8-week MA this week before bouncing back and finishing nearly unchanged. Thursday’s low tested July VPOC at 4342 – which also aligned with the 50-EMA -- where buyers stepped in and drove back into August value. The...

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