Reversing Weeks Of Decline, Major US Equity Indices Had Great Last Week; Probably More Room To Run In Weeks Ahead

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Reversing weeks of downward pressure, major US stock indices had a big week last week. There is room to run, if nothing else just to unwind the oversold condition they are in. With one session to go, May is setting … Continued

Relief Overdue For Gored Equity Bulls

posted in: Derivatives, Equities, Technicals | 0

US stocks have come under immense downward pressure of late. Amidst this came signs late last week that a relief was overdue. Several indicators are languishing in oversold territory, an unwinding of which could unleash upward pressure for stocks. The … Continued

Ahead Of Next Week’s FOMC Meeting And Amidst Ukraine-Related Headline Risks, Bulls Likely Looking For Near-Term Opportunities

posted in: Economy, Equities | 0

Investor sentiment has taken a hit, but major US equity indices are hanging in there – on a relative basis. This is a medium- to long-term worry for bulls. Near-term, they could be looking for opportunities. Possible catalysts include Thursday’s … Continued

Markets Likely To Be On Pins And Needles Until Fri, When Powell Speaks At Jackson Hole

posted in: Economy, Equities, Technicals | 0

Major US equity indices were down last week, but recovered from the lows, as dips were bought at important support. Jerome Powell’s Friday speech at Jackson Hole this week is important in that a possible announcement of tapering of bond … Continued

S&P 500 Unable To Rally On Big 1st Week Of Earnings Season; VIX Could Be Itching To Rally

posted in: Economy, Equities, Technicals | 0

The 2Q earnings season has gotten off strong. Stocks, having already rallied big into it, yawned. This is coming at a time when sentiment remains effusive and some of the tailwinds potentially turning into headwinds. VIX’s monthly chart could be … Continued

Investor Sentiment Continues Elevated, Nasdaq Internals Diverge With Tech-Heavy Index

posted in: Equities, Technicals | 0

Investors Intelligence bulls-to-bears ratio hit four this week – a rare occurrence. This is taking place at a time when internals on the Nasdaq are diverging with the index. Tech’s importance is all too known, with the top five US … Continued

Breakouts Imminent On Major US Equity Indices, Staying Power A Question Mark

posted in: Derivatives, Equities, Technicals | 0

Major US equity indices are itching to break out. The question is, what then? Indices remain stretched on several timeframes. Longs have shown dogged determination but shorts are likely to decide if the momentum will have the staying power. Equity … Continued

Russell 2000 Right On Crucial Support, Breach Risks Rise; Investors Intelligence Bulls Not Quite Giddy But Elevated Enough

posted in: Equities, Technicals | 0

Small-caps are clinging on to major support.  The closest the Russell 2000 came in testing major resistance just north of 1600 was Monday when it rallied to 1537.62 intraday.  The next couple of sessions, sellers came out in droves.  The … Continued

Spread Between NAAIM Index And AAII Bulls In Red Zone — Risk-Reward Odds Unfavorable For Bulls, Particularly New Longs

posted in: Equities | 0

NAAIM and AAII bulls do not always move hand in hand.  Understandably so.  They represent two different buying sources.  Currently, they are going their separate ways.  The spread between the two is fast approaching a level that in the past … Continued