S&P in Range-bound Trading Environment

there is a high probability that S&P is in for a ‘range-bound’ trading environment. This is a rally and retreat environment. It is not a trending environment. Short-term traders can anticipate continued volatility with rapid up and down moves in the markets

Market Internal Deteriorated as S&P's Testing Key Support

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

S&P Remains Vulnerable to Some Downside Retracement

market is in holding pattern as traders are watching to see whether or not the S&P can hold above the lower boundary of the pink band. Money Flow measure had been deteriorated, suggesting that the support might not hold for long. A failure to hold above key price level means that long-term buying pressure has finally been exhausted. On balance, we remain near term negative for S&P as we believe market vulnerable to some downside retracement over the short-to-intermediate term

S&P Broke Short-term Upward Trend

S&P broke key support Monday, signify a bearish trend reversal with downside target near 2786. Nevertheless, it will be important to monitor the retreat and rebound behaviors over the next few days to determine whether breakouts are decisive

Momentums Deteriorated as S&P Struggled to Get Pass January Highs

S&P’s quick run is showing some signs of exhaustion. Market internals deteriorated as the index struggled to get pass the January highs. The index could signal a downward trajectory, depending on how it closes over the next few days. Initial support is defined by the lower boundary of the pink band, around 2825. If it closes below that level, the next leg is likely lower, and we’re looking at 2790-2800

Cautiously Optimistic

our work on price pattern and momentum suggested that S&P could be in an early stage of a distribution phase. On balance, we’re cautiously optimistic on stocks over the short-term and look to trim positions into overbought strength

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