The major market indices have broken through most of the key upside resistance levels mentioned in last week’s post, and the weekly trend picture has returned to almost all positive. There is still major resistance overhead, and it’s entirely possible that the current rally is part of an ongoing larger-scale correction, but the benefit of [...]
While last week’s retest of the recent lows might have marked the end of a correction, it and the bounce that followed weren’t all that convincing. In addition, the trend picture remains negative to neutral overall, suggesting that there’s plenty of possibility for both further upside and downside action ahead.
Key near-term support levels on [...]
Last week’s rally has shifted the trend picture back to mixed for most major indices and sectors, with some – like the iShares MSCI EAFE Index and iShares MSCI Emerging Markets Index – actually showing a positive trend spectrum. While the odds probably favor a “retest” of the recent lows at some point, there’s still [...]
Last week’s sharp sell-off has, not surprisingly, left the weekly trend picture mostly negative. Only the Commodity Research Bureau Index, the iShares MSCI Japan Index, and the Materials and Utilities Sector SPDRs are showing any signs of strength, and most of them are mixed at best.
As always, the news media dutifully reported the reason(s) behind [...]
