Latest Market Update

 

Oil Prices Spike but Everything Else Weaken

 

Sunday, January 16, 2022

 

The 30-year U.S. treasury bond, the U.S. dollar, and the stock market all were weak except strong crude oil prices last week. The Wilshire 5000 index was testing its 89-day exponential moving average. Energy, Oil Equipment, and Semiconductor ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 1/21/2022.

 

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Stocks Started Falling in the First Week of the Year

 

Sunday, January 9, 2022

 

The stock market pulled back sharply last week. As expected, the S&P 500 index could not maintain its momentum for going higher after an upward breakout from a descending broadening triangle pattern. For the current pullback, it looks for the first support at the 89-day exponential moving average around 4600. Energy, Consumer Goods, and Financials ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 1/21/2022.

 

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Flat Stock Market heading into the New Year

 

Sunday, January 2, 2022

 

The stock market was almost flat last week. Home Construction, Semiconductors, and Real Estate ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index broke above the resistance level of 4725 from a descending broadening triangle pattern. We have no upside price target projected for this breakout due to a high rate of throwback/pullback on the pattern. The broad stock market is projected to be in a short-term neutral time-window until 1/6/2022.

 

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Santa Claus Rally Watch

 

Sunday, December 26, 2021

 

The stock market moved back and forth last week. Semiconductors, Home Construction, and Technology ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index currently is around the critical resistance level of 4725. For a Santa Claus rally, the S&P 500 index needs to break above 4725. Since there is a descending broadening triangle pattern going on for the S&P 500, if we have a Santa Claus rally this time, it could be like fireworks: pop up and fade out. The broad stock market is projected to be in a short-term neutral time-window until 1/6/2022.

 

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Stocks Stalled Near All-Time High

 

Sunday, December 19, 2021

 

The S&P 500 index moved back and forth near the all-time high last week. The level of 4725 for the SPX will be critical to be tested this coming week. Semiconductors, Consumer Goods, and Home Construction ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bullish time-window until 12/22/2021.

 

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Stocks Retest All-Time High

 

Sunday, December 12, 2021

 

The stock market recovered losses quickly from a short-term oversold condition last week. The S&P 500 index had a huge upward breakout from a 2-week descending broadening wedge pattern. This breakout will most likely drive the market back to the record high, and will potentially set up a Santa Claus rally. Home Construction, Semiconductors, and Technology ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bullish time-window until 12/22/2021.

 

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Volatile Market

 

Sunday, December 5, 2021

 

The stock market extended losses and the Wilshire 5000 index declined below the 89-day exponential moving average last week. The market was very volatile as readings of our Broad Market Instability index surged to 1.5-year high. The market is near a short-term oversold condition. Semiconductors, Home Construction, and Technology ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 12/7/2021.

 

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Elevated Market Volatility

 

Sunday, November 28, 2021

 

The stock market broke out from 3-week-long sideways to the downside sharply last week. Crude oil also declined sharply. The market volatility elevated as readings of our Broad Market Instability index surged to 1-year high last Friday. Semiconductors, Technology, and Home Construction ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 12/7/2021.

 

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Stocks Moving Sideways

 

Sunday, November 21, 2021

 

The US stock market continued moving sideways last week. Semiconductors, Technology, and Home Construction ranked as the top three sectors with mostly strong technical strengths. The US dollar advance sharply and crude oil started to decline. Please note that readings of our Broad Market Instability index started to rise. The broad stock market is projected to be in a short-term bearish time-window until 11/26/2021.

 

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Stocks in Sideways

 

Sunday, November 14, 2021

 

The US stock market moved sideways last week. Semiconductors, Technology, and Home Construction ranked as the top three sectors with mostly strong technical strengths. Both the US dollar and gold had sharp upward breakouts last week. Crude oil is likely traded in a horizontal trading range. The broad stock market is projected to be in a short-term bearish time-window until 11/26/2021.

 

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Stocks and Bonds Up Together

 

Sunday, November 7, 2021

 

The US stock market extended gain last week. The S&P 500 index is forming a 5-week rising wedge pattern. Semiconductors, Technology, and Energy ranked as the top three sectors with mostly strong technical strengths. The 30 year US treasury bond advanced sharply. Crude oil turned bearish after the price broke below the lower boundary of its uptrend channel. The broad stock market is projected to be in a short-term bearish time-window until 11/29/2021.

 

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Stocks Drifting Up into November

 

Sunday, October 31, 2021

 

The US stock market was slowly drifting up last week. Energy, Technology, and Semiconductors ranked as the top three sectors with mostly strong technical strengths. Crude oil was still in an uptrend channel pattern. The 30 year US treasury bond had an upward breakout from a bottom process pattern last week. The broad stock market is projected to be in a short-term bearish time-window until 11/19/2021.

 

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Stocks Advanced to All-Time Highs

 

Sunday, October 24, 2021

 

The US stock market advanced to all-time highs again last week. Energy, Oil Equipment, and Financials ranked as the top three sectors with mostly strong technical strengths. Crude oil extended gain with an uptrend channel pattern. The US dollar index was testing the lower boundary of a rising wedge pattern for a potential to the downside. The broad stock market is projected to be in a short-term neutral time-window until 10/29/2021.

 

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Stock Market Rebounded

 

Sunday, October 17, 2021

 

The stock market rebounded last week as the S&P 500 index held above the 89-day exponential moving average. Energy, Oil Equipment, and Banks ranked as the top three sectors with mostly strong technical strengths. Crude oil continued advancing with an uptrend channel pattern. The broad stock market is projected to be in a short-term bullish time-window until 10/22/2021.

 

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Sideways Market

 

Sunday, October 10, 2021

 

The S&P 500 index was testing its 89-day exponential moving average (EMA) in sideways market last week. Energy, Oil Equipment, and Banks ranked as the top three sectors with mostly strong technical strengths. Crude oil were in an uptrend and the 30-year U.S. treasury bond extended slide. The broad stock market is projected to be in a short-term bullish time-window until 10/22/2021.

 

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S&P 500 Index Breached 89-Day EMA

 

Sunday, October 3, 2021

 

The S&P 500 index breached its 89-day exponential moving average (EMA) to the downside first time since last November, and it could be the beginning of an intermediate downward wave. Energy, Banks, and Oil Equipment ranked as the top three sectors with mostly strong technical strengths. The US dollar and crude oil were bullish last week while gold, silver and the 30-year U.S. treasury bond were bearish. The broad stock market is projected to be in a short-term neutral time-window until 10/5/2021.

 

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Sideways Market

 

Sunday, September 26, 2021

 

The stock market recovered from early loss and actually formed a sideways market last week. Technology, Semiconductors, and Internet ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index has broken below the lower boundary of a multi-month rising wedge pattern. The 30-year U.S. treasury bond also broke below the lower boundary of a symmetrical triangle pattern. The broad stock market is projected to be in a short-term neutral time-window until 9/29/2021.

 

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Stocks Moved Lower ahead of Fed Meeting

 

Sunday, September 19, 2021

 

The stock market declined to near a 2-month low ahead of next week Fed Meeting. Technology, Semiconductors, and Real Estate ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index turned bearish as the price breached the lower boundary of a multi-month rising wedge pattern. The 30-year U.S. treasury bond is still neutral with a symmetrical triangle pattern. The broad stock market is projected to be in a short-term bearish time-window until 9/27/2021.

 

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Stock Market Pullback

 

Sunday, September 12, 2021

 

The stock market started to pull back with an increasing volatility last week. Technology, Semiconductors, and Real Estate ranked as the top three sectors with mostly strong technical strengths. Watch out for a downward breakout of the S&P 500 index from its multi-month rising wedge pattern. The 30-year U.S. treasury bond is also waiting for a breakout from a symmetrical triangle pattern. The broad stock market is projected to be in a short-term bearish time-window until 9/27/2021.

 

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Flat Stock Market

 

Monday, September 6, 2021

 

The stock market was flat with a very low volatility last week. Technology, Real Estate, and Healthcare ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index was still in developing its multi-month rising wedge pattern. The 30-year U.S. treasury bond, the US dollar, gold, and crude oil all are waiting for breakouts. The broad stock market is projected to be in a short-term neutral time-window until 9/10/2021.

 

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Rising Wedge in S&P 500

 

Sunday, August 29, 2021

 

The S&P 500 index extended its multi-month rising wedge pattern which can be both a continuation and reversal pattern. Technology, Real Estate, and Home Construction ranked as the top three sectors with mostly strong technical strengths. The 30-year U.S. treasury bond index was still bullish with an ascending broadening wedge pattern. The broad stock market is projected to be in a short-term neutral time-window until 9/2/2021.

 

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Volatile Markets

 

Sunday, August 22, 2021

 

The stock market pulled back last week. The market volatility jumped up as readings of our Broad Market Instability Index surged above the panic threshold level. Technology, Healthcare, and Real Estate ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index has not broken out from its multi-month rising wedge pattern yet. The US dollar turned bullish after its price broke above a 2-month horizontal trading range. The 30-year U.S. treasury bond index continued being bullish with an ascending broadening wedge pattern. The broad stock market is projected to be in a short-term bearish time-window until 9/1/2021.

 

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Stock Market Momentum Weakening

 

Sunday, August 15, 2021

 

The stock market drifted up with weakening momentum last week. Home Construction, Banks, and Financials ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index has an extended multi-month rising wedge pattern developed. We ought to be cautious that the S&P 500 index would turn bearish with a downside price target projected at 4075 in case the price breaks below the lower boundary of the rising wedge. The 30-year U.S. treasury bond index continued being bullish with an ascending broadening wedge pattern. The broad stock market is projected to be in a short-term bearish time-window until 9/10/2021.

 

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Stock Market at a Short-Term Peak

 

Sunday, August 8, 2021

 

The stock market went slightly up last week. Banks, Real Estate, and Financials ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index was bullish with a multi-month rising wedge pattern. If the price breaks below the lower boundary of the rising wedge, it would turn bearish with a downside price target projected at 4075 for the S&P 500 index. Both the US dollar and gold were in their 2-month horizontal trading ranges. The broad stock market is projected to be in a short-term bearish time-window until 8/27/2021.

 

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Flat Market

 

Sunday, August 1, 2021

 

The stock market was flat with weak momentum last week. Real Estate, Technology, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index was still in a multi-month rising wedge pattern. It is bullish as long as the price is above the lower boundary of the wedge. If the price breaks below the lower boundary, it would turn bearish with a downside price target projected at 4075 for the S&P 500 index. The 30-year U.S. treasury bond index was still bullish with an ascending broadening wedge. The broad stock market is projected to be in a short-term bullish time-window until 8/6/2021.

 

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Market Volatility Returning

 

Sunday, July 18, 2021

 

The stock market pulled back as the market volatility started to return last week. Readings of our Broad Market Instability Index surged above the panic threshold level. Real Estate, Technology, and Financials ranked as the top three sectors with mostly strong technical strengths. The S&P 500 was forming a 3.5-month rising wedge pattern. If the price breaks below the lower boundary of the wedge, it would turn bearish with a downside price target projected at 4075. The broad stock market is projected to be in a short-term bearish time-window until 8/2/2021.

 

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Watch Out Market Volatility

 

Sunday, July 11, 2021

 

The stock market was choppy as the market volatility started to move last week. Readings of our Broad Market Instability Index had a large swing range around 100. Real Estate, Technology, and Energy ranked as the top three sectors with mostly strong technical strengths. Crude oil, the US dollar, and the 30-year US treasury bond also experienced a large range of price back-and-forth movements. The market volatility is about to return. The broad stock market is projected to be in a short-term bearish time-window until 8/3/2021.

 

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Stocks Extended Gains before July Fourth Holiday

 

Monday, July 5, 2021

 

The stock market extended gains to new record highs last week, but the momentum was weakening. Energy, Oil Equipment, and Technology ranked as the top three sectors with mostly strong technical strengths. The prices of crude oil, the US dollar, and the 30-year US treasury bond also extended higher. The broad stock market is projected to be in a short-term bullish time-window until 7/9/2021.

 

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Stocks Advanced

 

Sunday, June 27, 2021

 

The stock market rebounded last week, and made new record highs. Energy, Oil Equipment, and Real Estate ranked as the top three sectors with mostly strong technical strengths. Crude oil price advanced higher. The 30-year US treasury bond, the US dollar and gold were in their consolidations after recent big moves. The broad stock market is projected to be in a short-term bullish time-window until 7/9/2021.

 

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Stocks Turned Volatile

 

Sunday, June 20, 2021

 

Inflation fears triggered the stock market to take a tumble last week. The market volatility raised as readings of our Broad Market Instability Index jumped above the panic threshold level. The S&P 500 index breached the lower boundary of a 4-month uptrend channel. Gold also broke below its 3-month uptrend channel while the US dollar advanced sharply. The 30-year US treasury bond continued moving upward. Energy, Oil Equipment, and Real Estate ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 7/2/2021.

 

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Stocks Hovered at Record Highs

 

Sunday, June 13, 2021

 

The stock market slowly drifted up and made new highs again last week. Oil Equipment, Energy, and Real Estate ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is still in a 4-month uptrend channel pattern. The 30-year US treasury bond turned bullish after its price had an upward breakout from a 3-month horizontal trading range. The US dollar is bullish with its upward breakout from a 3-month falling wedge pattern. Crude oil is also bullish with its upward breakout from a 3-month horizontal trading range. Fed meeting this week may have an influence on the markets. The broad stock market is projected to be in a short-term bearish time-window until 7/2/2021.

 

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Stock Market Flat Near Record High

 

Sunday, June 6, 2021

 

The stock market was almost flat near the record high last week. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. Both the S&P 500 index and gold are in their short-term uptrend channel patterns. Crude oil resumed rising after the price broke out from a 3-month horizontal trading range. The US dollar had an upward breakout from its 3-month falling wedge pattern. The 30-year US treasury bond still remains in a short-term horizontal trading range. The broad stock market is projected to be in a short-term bullish time-window until 6/8/2021.

 

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Relatively Quiet Price Action For Stocks

 

Monday, May 31, 2021

 

The stock market drifted slightly higher with a very low volatility last week. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. Both the S&P 500 index and gold are in their short-term bullish chart patterns. The US dollar is very close to a bullish breakout point. Both the 30-year US treasury bond and crude oil are still remaining in their short-term horizontal trading ranges. The broad stock market is projected to be in a short-term bullish time-window until 6/7/2021.

 

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Indecisive Market

 

Sunday, May 23, 2021

 

The stock market continued moving back-and-forth and directionless last week. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index looks bullish within a 3-month uptrend channel pattern. Gold is bullish with its price breaking above the upper boundary of a 2.5-month rising wedge pattern while the US dollar has been weakening. Both the 30-year US treasury bond and crude oil are still in their short-term horizontal trading ranges. The broad stock market is projected to be in a short-term bullish time-window until 6/7/2021.

 

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Stock Market Bouncing Back and Forth

 

Sunday, May 16, 2021

 

Fears of gas shortage after pipeline hack hit stocks earlier last week, and the stock market experienced a roller-coaster ride. The S&P 500 index made up most of losses Thursday and Friday, and it is an indecisive market. Readings of our Broad Market Instability index returned below the panic threshold level. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. The US dollar is bearish in a falling wedge pattern while gold is bullish with a rising wedge pattern. Both the 30-year US treasury bond and crude oil are still in their short-term horizontal trading ranges. The broad stock market is projected to be in a short-term bullish time-window until 6/1/2021.

 

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Stock Market in a High Wave Mode

 

Sunday, May 9, 2021

 

The stock market was in a high wave mode with a range over 1% in both downside and upside and moved nowhere last week. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is still in a 3-month rising wedge pattern. Both the 30-year US treasury bond and crude oil continue in their 2-month horizontal trading ranges. The US dollar became bearish after a breakdown last week, and gold turned bullish to form a rising wedge. The broad stock market is projected to be in a short-term bullish time-window until 5/24/2021.

 

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Sideways Market

 

Sunday, May 2, 2021

 

The stock market were in sideways last week. Energy, Oil Equipment, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is testing the lower boundary of a short-term rising wedge pattern for a potential breakdown. Both the 30-year US treasury bond and crude oil are in 2-month horizontal trading ranges. The US dollar rebounded from a support and gold breached to the downside. The broad stock market is projected to be in a short-term bearish time-window until 5/7/2021.

 

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Stocks in Choppy Treading

 

Sunday, April 25, 2021

 

The stock market experienced choppy trading last week. Energy, Banks, and Home Construction ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a short-term rising wedge pattern, and the price fluctuates in a narrow range to wait for a breakout from the wedge. Gold, the 30-year US treasury bond, US dollar, and crude oil all have weakening momentum. The broad stock market is projected to be in a short-term bearish time-window until 5/7/2021.

 

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Stocks Entered Overbought Territory

 

Sunday, April 18, 2021

 

The US stock market slowly drifted higher last week. Energy, Oil Equipment, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is overbought and is due for a pullback. Readings of our Broad Market Instability index started to rise. Gold and the 30-year US treasury bond jump up from their bottom process patterns. The broad stock market is projected to be in a short-term bearish time-window until 5/10/2021.

 

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Extreme Low Stock Volatility with Excessive Optimism

 

Sunday, April 11, 2021

 

The stock market extended gain last week with positive momentum and very low volatility. Semiconductors, Energy, and Oil Equipment ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a short-term ascending broadening wedge pattern, and the price reached the upper boundary of the wedge. The 30-year US treasury is forming a bottom reversal process. The broad stock market is projected to be in a short-term bullish time-window until 4/13/2021.

 

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Stocks Hovered Near Record Highs

 

Sunday, April 4, 2021

 

The stock market hovered near all-time highs with positive momentum and very low volatility. Oil Equipment, Energy, and Biotech ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a short-term ascending broadening wedge pattern. The 30-year US treasury is forming a bump-and-run pattern for a potential bullish reversal. The broad stock market is projected to be in a short-term bullish time-window until 4/13/2021.

 

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Market Momentum Turned Negative

 

Sunday, March 21, 2021

 

The stock market pulled back from all-time high last week with negative momentum but very low volatility. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a short-term ascending broadening wedge pattern which has a bearish bias for a potential bearish reversal. Also crude oil is forming a topping pattern for a potential breakdown. The 30-year US treasury is forming a bump-and-run pattern for a potential bullish reversal. The broad stock market is projected to be in a short-term bullish time-window until 3/24/2021.

 

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Stocks Made Record Highs

 

Sunday, March 14, 2021

 

The stock market advanced to record highs with low volatility and positive momentum last week. Oil Equipment, Energy, and Banks ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a short-term ascending broadening wedge pattern which has a bearish bias for a potential bearish reversal. Crude oil remained in a 4.5-month uptrend channel, and the 30-year US treasury bond was still bearish. The broad stock market is projected to be in a short-term bullish time-window until 3/24/2021.

 

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Volatile Markets

 

Sunday, March 7, 2021

 

The volatility of the stock market jumped up last week, and readings of our Broad Market Instability Index surged to 107 that is above the panic threshold level. The S&P 500 index broke below the lower boundary of its 6-month rising wedge pattern, and it is bearish for further decline. Oil Equipment, Energy, and Semiconductors ranked as the top three sectors with mostly strong technical strengths. Crude oil was bullish in a 4-month uptrend channel, and the 30-year US treasury bond extended decline. The US dollar had a bullish breakout and added pressure on gold. The broad stock market is projected to be in a short-term bearish time-window until 3/10/2021.

 

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Stocks, Gold, and Treasury Bond Declined Concurrently

 

Sunday, February 28, 2021

 

The US stock market declined sharply last week. The volatility increased as readings of our Broad Market Instability Index jumped up above the panic threshold level. The S&P 500 index breached the lower boundary of its 6-month rising wedge pattern, and sent a warning signal for a downward move. Oil Equipment, Energy, and Semiconductors ranked as the top three sectors with mostly strong technical strengths. The 30-year US treasury bond also moved sharply lower, and gold broke below the lower boundary of its 8-month descending triangle patter last week. Crude oil is still bullish in a 4-month uptrend channel. The broad stock market is projected to be in a short-term bearish time-window until 3/11/2021.

 

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Stock Market Weakens

 

Sunday, February 21, 2021

 

The US stock market drifted lower with slightly increased volatility and negative momentum last week. Semiconductors, Oil Equipment, and Energy ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index pulled back from the upper boundary of a 5-month rising wedge pattern, and the pattern suggests a potential reversal ahead. The 30-year US treasury bond moved sharply lower and the US dollar was weakening last week. The broad stock market is projected to be in a short-term bearish time-window until 3/11/2021.

 

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Stock Market in Sideways Drift Last Week

 

Sunday, February 15, 2021

 

The US stock market drifted up slowly with a very low volatility last week. Semiconductors, Internet, and Technology sectors ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a 5-month rising wedge pattern suggesting a reversal ahead, and it would turn bearish if the price breaks below the lower boundary of the wedge. The 30-year US treasury bond remains bearish with a downtrend channel pattern, and the crude oil index is bullish in an uptrend channel pattern. The broad stock market is projected to be in a short-term bullish time-window until 2/19/2021.

 

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Stock Market Topping Again

 

Monday, February 8, 2021

 

The US stock market rebounded from the previous low and advanced to a new high. Semiconductors, Internet, and Oil Equipment sectors ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index returned to the final upward leg of its multi-month butterfly pattern still heading towards a potential top reversal. The US dollar index broke above its inverse head-and-shoulders pattern for a potential bottom out. The 30-year US treasury bond remains bearish with a downtrend channel pattern, and the crude oil index is bullish in an uptrend channel pattern. The broad stock market is projected to be in a short-term neutral time-window until 2/12/2021.

 

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Bearish Top Reversal in US Stock Market

 

Sunday, January 31, 2021

 

The US stock market had a bearish top reversal from all-time highs and declined sharply last week. Except Oil Equipment, Biotech, Pharmaceuticals, and Healthcare sectors, all other sectors had their StockCharts Technical Rank (SCTR) dropped on a weekly basis. Readings of our Broad Market Instability Index surged up to the panic threshold level. Based on the top reversal last week, the intermediate-term view on the S&P 500 index has been changed to bearish with starting the first downward intermediate wave, and downside price targets have been projected as detailed in this week report. The US dollar index is forming a multi-week inverse head-and-shoulders pattern for a potential bullish reversal. The 30-year US treasury bond remained bearish with a downtrend channel pattern. The broad stock market is projected to be in a short-term bearish time-window until 2/11/2021.

 

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Stocks Mixed on Sector Rotation

 

Sunday, January 24, 2021

 

The US stock market closed slightly higher last week with very low volatility and weak momentum. Stocks in the technology sectors including Semiconductors, Internet, and Biotech heated up but most other sectors like Banks, Financials, Materials, Industrials, Telecommunication and Utilities lost steam. The S&P 500 index is still in stretching the final upward leg of its multi-month butterfly pattern heading towards a potential top reversal. The US dollar index is likely to form a multi-week inverse head-and-shoulders pattern for a potential bullish reversal. The 30-year US treasury bond remained bearish with a downtrend channel pattern. The broad stock market is projected to be in a short-term bearish time-window until 2/15/2021.

 

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US Stock Market is Topping

 

Sunday, January 17, 2021

 

The stock market closed negative last week with very low volatility and momentum. The S&P 500 index is still in stretching the final upward leg of its multi-month butterfly for a potential top reversal. Oil Equipment, Semiconductors, and Consumer Goods sectors ranked as the top three sectors with mostly strong technical strengths. The US dollar gained momentum after it broke upward from a 2-month falling wedge pattern. The 30-year US treasury bond remained bearish with a downtrend channel pattern. The broad stock market is projected to be in a short-term neutral time-window until 1/22/2021.

 

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Markets Kick Off 2021

 

Sunday, January 10, 2021

 

The stock market advanced higher in the first week of the year. Both the market volatility and market momentum remained at very low levels. The S&P 500 index has stretched the final upward leg of its multi-month butterfly pattern with an extension over 1.6 which has a bearish indication of approaching a top reversal. Oil Equipment, Semiconductors, and Consumer Goods sectors ranked as the top three sectors with mostly strong technical strengths. The US dollar bounced from a falling wedge pattern last week, and added a pressure to gold and silver. The 30-year US treasury bond remained in its bearish downtrend pattern. The broad stock market is projected to be in a short-term bullish time-window until 1/19/2021.

 

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Stock Market Hovered Near Record Highs

 

Sunday, January 3, 2021

 

The stock market drifted higher at record highs last week with low volatility and low momentum. The S&P 500 index still slowly stretches the final upward leg of its multi-month butterfly pattern which has a bearish indication of approaching a top reversal. Semiconductors, Consumer Goods, and Banks sectors ranked as the top three sectors with mostly strong technical strengths. The US dollar and 30-year US treasury bond remained in their bearish downward patterns. The broad stock market is projected to be in a short-term bullish time-window until 1/13/2021.

 

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