Tag: SPX

S&P Dances into Increasingly Tight Trading Range

there is a consolidation near the important sentiment 2900 zone. Technical pressures are building up as the market dances its way into an increasingly tight trading range. S&P’s 2866 marks the inflection point. A failure to hold above key level indicates a change in sentiment and a much deeper pullback should be expected

Outside Reversal Bar In S&P Warns of Potential Trend Shifts

Wednesday’s outside reversal bar together with the fact that the S&P is facing strong technical resistance after rising more than 100 points since late March warns of potential trend shifts. But the overall technical backdrop remains bullish, so we’d consider purchase stocks during declines in the market and stay bullish as long as the S&P holds above 2860

S&P in Overbought Consolidation

an overbought pullback consolidation interrupted the March rally in the S&P. Although seemingly vulnerable to further short-term weakness, the overall technical backdrop remains positive so sell-off could be shallow because the sideline money will try to fight its way back into the market

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