Weekly Market View

Weekly Market View 1-21-24

Jan 21, 2024 | Weekly Market View

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...

Weekly Market View 1-14-24

Jan 14, 2024 | Weekly Market View

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...

Weekly Market View 1-7-24

Jan 7, 2024 | Weekly Market View

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...

Weekly Market View 1-2-24

Dec 31, 2023 | Weekly Market View

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...

Weekly Market View 12-26-23

Dec 24, 2023 | Weekly Market View

The SPX closed at +1.0% for the week and now clinching an 8th straight positive week showing the breadth of this rally expanding and sustaining into year end as seasonality plays out as expected with funds chasing performance into highs. The minor dip midweek looked...

Weekly Market View 12-17-23

Dec 17, 2023 | Weekly Market View

The SPX closed at +2.5% for the week with many other sectors surpassing these returns including the small cap Russell index gaining as much as +7% in just the final 3 days of the week. The SPX saw a fervor of upside volume on the new high Thursday which also happened...

Weekly Market View 12-10-23

Dec 10, 2023 | Weekly Market View

The SPX closed +0.25% eking out a slight gain for the week after the strong Friday rally post Jobs report secured the 6th straight positive week, the first time that has happened since late 2019. SPX closed just above the key 4600 round number level also to finish at...

Weekly Market View 12-3-23

Dec 3, 2023 | Weekly Market View

The SPX closed +0.8% higher for the week and extending the strong advance from the late October lows now printing a 5th straight week of gains, and it has not seen 6 straight weeks of gains during this decade so far as the last occurrence was in late 2019. The SPX...

Weekly Market View 11-26-23

Nov 26, 2023 | Weekly Market View

The SPX closed the holiday shortened week up just about another +1% in a lower volume melt up that saw most of the gains on Monday early on hitting the 4550 SPX level and about 455 on the equivalent SPY. The bullish November surge is now up a remarkable +9% on the...

Weekly Market View 11-19-23

Nov 19, 2023 | Weekly Market View

The SPX closed the week higher again by +2.2% and above the large 4500 strike level as November OPEX week played out with a bullish lean highlighted by a nearly 3 sigma surprise move higher on CPI Day. The market now hitting the early September highs and fairly close...

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