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Weekly Market View 8-1-21

It was a quiet week for the S&P 500 (SPX) with its narrowest closing range since late May as we consolidated above the 8-EMA and under new highs. The overall stance remains neutral given how we remain extended near resistance of a rising wedge from the May highs...

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Weekly Market View 7-25-21

The S&P 500 (SPX) put in a bullish engulfing week after testing the 50-MA and bouncing back to new all-time highs. The pullback that started on 7/14 ended up being around 3.5%, the biggest dip of 2021, and larger timeframe buyers stepped in with force driving the...

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Weekly Market View 7-18-21

The S&P 500 (SPX) snapped a three-week winning streak last week while the Russell (IWM) underperformed with its lowest weekly close since January as inflations concerns and a correction in energy weighed. Momentum has clearly shifted towards bears recently with...

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Weekly Market View 7-11-21

The S&P 500 (SPX) closed at new all-time highs on Friday despite a choppy week overall that saw us continue to hold the rising 8-EMA. We continue to trend well above the June value area but over-extended near channel resistance and the small consolidation this...

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Weekly Market View 6/13/21

The S&P (SPX) closed the week near record highs as it started to emerge out of a multi-week consolidation with the current flag measuring around 300 points to a 4550 target. It has been a straight grind higher since the 5/19 reversal candle off the rising 55-day...

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Weekly Market View

It was a very quiet week for the S&P 500 as we closed the month above the 8-EMA and sitting on April VPOC. We remain overstretched and near resistance of a multi-month channel higher while momentum has all but slowed to a crawl. MACD and RSI continue to show a...

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