Technical Analysis: Another “sell-off” that was hardly a sell-off on Friday, where price basically stood still. Right now, it is more likely that the bulls are alleviating overbought conditions through “time” rather than “price”. The steep rising uptrend on S&P 500 (SPX) could possibly be tested today at 2252. The only rising uptrend that has been broken
Technical Outlook: S&P 500 (SPX) dropped for a third consecutive day yesterday. If the market sells off today, it would mark the first time since June 15th that SPX sold off four straight days. On the volume side, SPDRs S&P 500 (SPY) saw a third straight day of rising volume and came in at average levels. GDP came
Here’s my Google Hangout for this week. In this video I go over all the major indices as well as $GLD, SLV, USO, FB, AMZN, NFLX, GOOGL, AAPL, and JNJ. So be sure to check it out.
Let’s just say that the Russell index does not like to put forward a good challenge to the 50-week moving average and this week has been no different. After testing the 50-week moving average last week for the first time since early December of last year, the Russell index tested it this week too. And