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Weekly Market View 11-10-24

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...

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Weekly Market View 11-3-24

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...

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Weekly Market View 10-27-24

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...

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Weekly Market View 10-20-24

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...

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Weekly Market View 10-13-24

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...

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Weekly Market View 10-6-24

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...

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Weekly Market View 9-29-24

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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Weekly Market View 9-22-24

The SPX closed higher again this week by +1.3% as stocks stayed resilient into and after the FOMC meeting and first rate cut in 4 years. SPX hit fresh all time highs at 5733 Thursday before seeing a pause Friday but overall holding firm near 5700 into monthly...

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Weekly Market View 9-15-24

The SPX closed strongly higher by +4.2% on the week with all five trading days finishing in the green, an impressive rebound from last week’s selloff that was fully regained and supported by solid market breadth and a declining VIX. Last weeks selloff as noted came...

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Weekly Market View 9-8-24

The SPX closed lower by over 4% in the week in a rather unexpected reversal to start the month after closing the prior week at nearly new highs. Price action clearly now has work to do to regain its short-term moving averages as a first objective with the 8/21 EMA...

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