Category: Stock indices

S&P 500 (SPX) Update

The fairly persistent rise up off the 2357 SPX low yesterday and lack of selling today opens the door to the low being of greater import than a mere first impulse down, that it may in fact terminated the corrective formation we have been in since March.

Consumer Discretionary ETF (XLY) 2017-05-10

I’ve taken a look at this sector ETF to see if it had any clues to wear we are in the broader stock indices. In general looks like the SPX. Either the expected near term high is the penultimate high or with a different EW count, this could be a more significant high.

Dow intraday update

I include an intraday chart of one of the equity indices, usually SPX, in the morning day ahead post but am putting it here as a separate post as the best way to bring it to your attention. I had previously stated in the day ahead post that I just add more charts to it […]

S&P 500 (SPX) Update

There was an error in support values in the morning chart. Decided to make a separate post instead of replacing the previous one. The theme is the same. A new low improves the form but if they begin to push past resist, 2359 SPX, a small short squeeze can start.

S&P 500 (SPX) 2017-03-26

When you step back and look at the large structure, you can see a broad five wave move up from the 2009 low. That should mean we are in the last phase of the advance though this last leg, the one up from early last year, can extend.

S&P 500 (SPX) Update

I had a typo in one of the upper resistances on the SPX chart thus posting an updated one.

Bank index BKX may be forming a lower high

As signs continue to build warning of instability in equity and financial markets this autumn, we observe that the index of major U.S. banks is lagging in comparison to benchmarks such as the S&P 500.