Tag: XLU

S&P in Orderly High Level Consolidation Phase

recent trading actions leaving the S&P in what looks to us like an orderly high level back-and-forth consolidation of the October rally. Technical pressures are building up as the market dances its way into an increasingly tight trading range. S&P’s 3060 marks the inflection point. A failure to hold above key level indicates a change in sentiment and a much deeper pullback should be expected

S&P Constrained by Short-term Sideways Trend

trading behavior in the S&P remains constrained by a short-term sideways pattern and shown little evidence of a sustainable change in trend. 2980 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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