Weekly Market View

Technical Market View The SPX closed strong on Friday forming a bullish reversal hammer candle that held key support right at the 55 day EMA and held above the AVWAP from the August lows. SPX closed back over the key 6700 level as well and while still below the 21...

Technical Market View The SPX closed higher for the week by near +1% but largely most of the gains coming on the early week strength which gapped higher Monday and held firm helped by the Mag7 mega caps and solid earnings reports from the likes of AMZN and GOOGL....

Technical Market View The SPX closed at a new all-time high Friday and finishing up +2% of the week that saw price action hold strong after a midweek sector rotation saw growth stocks sell off but simply just a retest of the 21 EAM on Nasdaq while breadth confirmed...

The SPX closed higher for the week by +1.7% although it did not feel like it with volatile two sided trading persisting into the monthly options expiration on Friday but the overnight low holding strong above the key 55 EMA and anchored VWAP from August and closing...

Technical Market View The SPX closed sharply lower Friday by -2.75% on the unexpected Trump tariff threats towards China but the signs of an overdue impending pullback have been building as noted recently with the frothy meme stock surges and unsustainable call skews...

Technical Market View The SPX rose another +1% for the week that featured a mostly upside grind bias in the indexes while single stocks continued to make outsized moves higher mostly. The action ended the week with a bit of a whimper as Friday closed slightly lower...

Technical Market View The SPX pulled back slightly for the week by -0.3% but at the Thursday low was off the recent highs by -2% for the typical post expiration hangover that stocks tend to see into late September. Overall buyers defended where they should have on the...

Technical Market View The SPX continued its voyage to new heights this past week gaining another +1.3% and closing at 6664 into triple witching OPEX Friday, now +3.2% for September after a positive August, strong action in normally stagnate seasonal months. However,...

Technical Market View The SPX continued higher last week gaining another +1.6% for the week and closing above the large 6500 round number decisively and helped by further decline in the VIX as implied volatility was sold after CPI and now approaches a key expiration...

The SPX touched a new high on Friday morning before closing back under 6500 as fears of a recession from a cooling labor market outweighed the early hysteria of rate cut optimism. The rising 8-MA and monthly VPOC held as support intraday near 6450 which remains vital...