Category Archives: Morning News

This Week Everyone Will Be Watching The 2600 Level On The S&P 500

Twitter Shares Poised For A Breakout – It Could Power A 25% Move Higher

Twitter (TWTR) shares rose nearly 100% in the first half of the year. Then they proceeded to retrace 45% of that gain before making their October low. Now the technicals are setting up for another possible jump in the stock price. In the first half of this year, Twitter traded in a range bound by… Read More »

Shift In S&P 500 Seasonality – Santa Rally Has Left The Building

There has been an interesting shift in an old and treasured seasonality pattern. The fabled “Santa Claus” rally period has seemingly disappeared over the last five years. Take a look at these two seasonality charts. The first includes data from the 10 year period between 1999 and 2018. It shows the percent of months that… Read More »

The S&P 500 Chart – Base Breakout Or Another 100 Day Moving Average Rejection

The week started off with a bang. The Dow Jones Industrial Average was up 287.87 points, the S&P 500 Index jumped 30.20 points, and the NASDAQ Composite was higher by 110.98 points. Stocks saw a gap higher at the open on the G-20 news that President Trump and China’s President Xi had reached a compromise… Read More »

Volatility Opportunity – Potential Return To Strong Support Levels

We were neutral about the market going into this weekend. The G-20 outcome seemed, in our opinion, skewed to the risk rather than the reward side. As it has turned out, some compromise was reached and the futures market is implying a very strong open this morning. We will not be chasing this move. As… Read More »

So Much For The Bearish Pattern on the DOW

Last evening we penned this article on the series of eveningstar patterns that have marked recent highs in the Dow Jones Industrial average. It speculated that a fourth in a series of bearish tops was forming on the Dow daily chart. It was posted early this morning. The market gapped lower at the open then… Read More »

This Pattern Has Marked The Last Three Highs On The Dow Chart – And It Is Forming Again

A particular bearish pattern has defined the last three highs on the Dow Jones Industrial average, and another may be forming again on the daily chart. The early October high was a turning point for the market. It ended the intermediate term uptrend off the July low, and has been followed by nearly two months… Read More »

Now Tough Work For The Stock Market Begins – Key Resistance Ahead

On Monday we posted an article entitled “This Is Where The Real Resistance Is On The S&P 500 Chart.” In a matter of days the S&P has pierced through lower levels of lesser resistance and moved up to test an area we outlined in the article as key resistance. The top end of this zone… Read More »

This Is Where The Real Resistance Is On The S&P 500 Chart

We took a look at some areas of support and resistance S&P 500 chart last week. As it turned out we could have just focused on the support levels because the market was unable to mount any sort of move higher. Here is the analysis. The S&P index finished the holiday shortened week at 2632… Read More »

Support Vacuum On The Crude Oil Chart – Prices Could Be Headed Much Lower

Here’s our analysis of the West Texas Intermediate Crude Oil Continuous Contract (WTIC) weekly chart. A large inverse head and shoulders base began forming in late 2015 and was completed in November 2016. The neckline was situated in the $51 area and that pattern resistance was broken at the end of 2016. The breakout failed… Read More »