Weekly Market View

Weekly Market View 12-1-24

Nov 30, 2024 | Weekly Market View

The SPX closed higher for the week by +1.1% in just the 4 days for the holiday shortened week and +5.7% return for the month of November which lived up to its true form of being the top calendar month of the year seasonally during election years. SPX hardly even...

Weekly Market View 11-24-24

Nov 24, 2024 | Weekly Market View

The SPX closed higher for the week by +1.75% after the prior week’s sharp dip held the 21 day EMA perfectly and ending up being a normal retracement after monthly expiration which is common. This week the market also showed great resiliency, closing higher than its...

Weekly Market View 11-17-24

Nov 17, 2024 | Weekly Market View

The SPX closed lower on the week after a quiet start to expiration week the first 3 days pinning near 6000 but then getting that anticipated dip to the rising 21 EMA after this strong recent runup. OPEX accelerated the Friday selloff and likely was not much else than...

Weekly Market View 11-10-24

Nov 10, 2024 | Weekly Market View

The SPX closed sharply higher for the week by nearly 5% and much stronger returns for the small cap Russell index up over 8% on the week. The SPX tagged our long awaited 6000 round number target and with several weeks to spare before year end. The markets now have...

Weekly Market View 11-3-24

Nov 3, 2024 | Weekly Market View

The SPX closed lower on the weekly as the end of month typical profit taking took place after a strong recent run and that big 1.272 fib extension resistance mentioned has held firm as a first ceiling. Prices now pulling into the rising 8 week EMA and likely will be...

Weekly Market View 10-27-24

Oct 27, 2024 | Weekly Market View

The SPX closed slightly lower on the week but overall a choppy rangebound few days following options expiration as noted last week was likely to see some volatility expand. Strong dip buyers were present midweek as the SPX tested the 21 day EMA near 5775 and rallied...

Weekly Market View 10-20-24

Oct 20, 2024 | Weekly Market View

The SPX closed higher on the week by nearly +1%, continuing a strong streak of upside advances since the mid-September reversal day that showed clear breadth thrusts supporting new highs on deck. October OPEX now has passed and while the election is still a few weeks...

Weekly Market View 10-13-24

Oct 13, 2024 | Weekly Market View

The SPX closed higher on the week by +1.2% and a new all time closing high on Friday right into the 5820 fib extension target as a short term level to be aware of as monthly OPEX now approaches this coming week. The mega cap Tech stocks joined in this week with...

Weekly Market View 10-6-24

Oct 6, 2024 | Weekly Market View

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...

Weekly Market View 9-29-24

Sep 29, 2024 | Weekly Market View

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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