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Weekly Market View 3-3-24

The SPX closed higher for the week by just about +1% and most of that gain coming Friday as the index closed at fresh highs after a largely quieter early week that consolidated on top of weekly value support and the 8 EMA held a midweek dip before PCE inflation data...

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Weekly Market View 2-25-24

The SPX closed higher for the week after a sharp decline started the shortened holiday week, but NVDA saved the day with its stronger earnings report even as the Nasdaq overall felt soft until the report. For now, SPX support is crucial to hold above 5040 as a key...

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Weekly Market View 2-19-24

The SPX closed lower for the week by -0.3% after recovering the steep selloff on Tuesday to nearly finish unchanged on the week. Overall, the options expiration for February may have support the markets more than otherwise may have been seen and now with seasonally...

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Weekly Market View 2-11-24

The SPX closed higher for the week by +1.4% to register the first closing week above the 5000 level ever. The momentum in Tech being a driving factor continues to lift the index to new highs as earnings season winds down and the continued chase for outperformance from...

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Weekly Market View 2-4-24

The SPX closed higher for the week by +1.4% after being lower midweek but nearly that amount but reversing back to fresh all-time highs after blowout Tech earnings, albeit coming on Friday with weak breadth overall and not a very convincing number of sectors...

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Weekly Market View 1-28-24

The SPX closed higher for the week by +1% as strength continues to see dips get bought and likely close the month of January on a positive note, boding well for the rest of the year statistically. The SPX has held above its 8-day EMA the past week and now nearly...

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Weekly Market View 1-21-24

The SPX closed higher for the week by +1.2% at 4840 and all coming in the final two days of the week after the early pullback held support at the 21-day EMA of 4725. All time highs are never bearish, so this is a strong signal for the continuation of this bull market...

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Weekly Market View 1-14-24

The SPX closed higher for the week by +1.8% and closed at a new weekly closing all-time high after seeing a perfect rebound off the 21-day EMA we were looking for last week. The SPX 4800 big wall of resistance continues to hold tough, and the market is running out of...

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Weekly Market View 1-7-24

The SPX closed lower for the first week in over 2 months after a holiday shortened week saw prices pullback to the 21 EMA near 4700 for a much overdue but healthy retracement after the recent RSI bearish divergence, we mentioned last week played out. SPX is still in a...

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Weekly Market View 1-2-24

The SPX closed higher by +0.32% for the week and clinched a 9th straight positive week for the first time since 1985. The new year starts at extended levels and just below the all-time highs of 4818 that have still yet to be cleared. The first two trading days of the...

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