S&P Will Have Downward Bias

market internals deteriorated as S&P’s testing key technical level. S&P will have a downward bias this week, pressured by short-term negative momentum but we expect support at the trend channel moving average to remain largely intact

S&P Upside to be Limited by Overbought Condition

the fact that the S&P is short-term overbought as it tests key sentiment level suggested that upside gains could be limited. As for strategy, we’d look to trim positions into short-term overbought strength

S&P Broke Key Resistance But return of Overbought Conditions Will Keep the Lid of the Upside

S&P broke key resistance Thursday, signified the one-week sideways trading pattern had resolved itself into a new upswing. Nevertheless, overbought conditions on an intraday basis will put a cap on the upside

S&P in Orderly Low-level Consolidation

Editor’s note: this column was originally published on Capital Essence’s CEM News. It’s being republished as a bonus for the loyal readers. For more information about subscribing to CEM News, please click here.   Good Morning, this is Capital Essence’s Market Outlook (the technical analysis of financial markets) for Thursday September 13, 2018. We’ve noted …[read more]

S&P Held Support but Follow-through is the Key

S&P tested and held support at the lower boundary of the pink band. While Tuesday’s rally had improved the posture of our short-term indicators, which supportive of further upside probing, follow-through is the key. S&P has 2890 to trade against. If that were to break, we could see 2925 next

S&P Constrained by Short-term Sideways Pattern

trading behavior in the S&P remains constrained by a short-term sideways pattern and shown little evidence of a sustainable change in trend. 2870 is the line in the sand. A failure to hold above that level would trigger a new sell signal and an unwelcome pickup in downside volatility


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