Tag: iShares PHLX Semiconductor ETF

S&P Breakouts Might Not Sustain

the fact that Money Flow measure whipsaws around the zero line as the S&P moved up to test formidable resistance does not favor a sustain break to the upside. As for strategy, we’d look to buy into short-term dips rather than chasing breakouts

Bulls Need to Clear S&P’s 2900 Quickly or Market Will Fall Under its Own Weight

Monday’s upside follow-through had helped putting the bulls back onto the driver side of the market but it doesn’t mean that we’re out of the woods. Given the looming resistance near S&P’s 2900 there is no big commitment to accumulate stocks aggressively at this point. With that said, the bulls need to clear 2900 quickly or market will works off oversold conditions and fall under its own weight

S&P Oversold Rally Shown Signs of Buyer’s Fatigue

S&P’s oversold rally is showing signs of buyer’s fatigue, noting a struggle for the index to get past Thursday’s bearish breakaway gap. There is a good chance S&P will see some near-term weakness, but the bears will not have any cases unless there is, at least, a close below 2800

S&P’s Waning Momentum Forewarned Lower Stocks Price

daily chart of the S&P has shown signs that upside momentum is waning as the index tested key price level. While there is a high probability that the late-week selloff will momentum but a close below S&P’s 2800 is needed before there is any real prospect of a change in the short-term upward trend pressure. For now, 2800 is the line in the sand. A close below that level would see a massive pickup in volatility

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