Posts

Low Volume Weakness

Image
Sellers were able to put some distance on resistance which gives shorts something to work with. The S&P closed just below 2093 support, but above 20-day MA; a loss of the latter opens up support at the 50-day MA, then the swing low at 2040.

Large Cap 'Bull Traps' Not Quite Done

Image
There was a small loss in the indices as Friday's gains consolidated. The S&P closed with a tweezer top, which is a reasonable marker for a bearish (and potentially trade-worthy) reversal. There are zones of support which will stall any decline, but for tomorrow, look for follow through losses.

Large Cap 'Bull Traps' Under Pressure

Image
Friday's solid gains helped push both the Dow Jones Industrial Average and S&P into challenges of their respective 'Bull Traps'. The big volume surge also marked a strong accumulation day for both indices. In the case of the S&P, there was a MACD trigger 'buy', but not quite an On-Balance-Volume 'buy' trigger, with which to work with.

Bullish Pressure Continues

Image
The Nasdaq posted a minor gain on low volume and performed better than the S&P. It didn't really change anything, but it didn't hurt and the MACD is on the verge of a 'strong buy' signal.

Archive

Show more