Last week’s market rally from significantly “oversold” levels was not unexpected, and is reflected in a now mixed weekly trend analysis picture. While the NASDAQ and Russell 2000 are still negative or neutral overall across their entire trend spectrums, the S&P 500 and the DJIA are back to positive on the short and longer [...]
The market’s weakness last week only further confirmed the now almost completely negative trend picture for the major U.S. indices, reflecting an ongoing intermediate-term (measured in weeks to months) downtrend. The only exception is the DJIA, which is displaying a mixed – but still biased negative – trend spectrum.
One potential positive in the short term [...]
Last week’s complete reversal (and then some for most indices) of the previous week’s gains in the market was like a torpedo blow to the recently all-positive weekly trend pictures, which are all now either mixed or negative. For example, the trend spectrums reflecting the currently “active” identifiable trends for the NASDAQ and S&P500 [...]
Last week’s market action spoke for itself and confirmed what the weekly trend analysis has been saying for some time now – that the intermediate- and longer-term trends remain up.
While some stocks that have been performing well all along could be said to be getting rather extended here (for example, some of those in the [...]
