Latest Market Update
Choppy Market
Monday, May 29, 2023
The stock market paced back and forth as the US was reaching its debt limit last week. Semiconductors, Technology, and Internet were 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 5/31/2023.
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S&P 500 at 9-Month High
Sunday, May 21, 2023
The S&P 500 index broke above a 6-week trading range pattern and reached its 9-month high last week. Home Construction, Technology, and Semiconductors were 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 5/26/2023.
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Volatile Market
Sunday, May 7, 2023
The stock market was volatile last week. Oil Equipment, Energy, and Telecommunication was ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 5/10/2023.
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Choppy Market
Sunday, April 30, 2023
The stock market was choppy last week. Oil Equipment, Banks, and Telecommunication are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 5/5/2023.
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Sideways Market
Sunday, April 23, 2023
The stock market was in sideways last week. Oil Equipment, Energy, and Telecommunication are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 5/5/2023.
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Stocks Drifting Up
Sunday, April 16, 2023
The stock market was slightly up last week. Precious Metals, Semiconductors, and Home Construction were 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 5/5/2023.
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Gold and Crude Oil Jumped
Sunday, April 9, 2023
The stock market pulled back slightly while the prices of gold and crude oil jumped last week. Precious Metals, Semiconductors, and Technology were ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 4/13/2023.
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Stocks in Short-Term Upward Wave
Sunday, April 2, 2023
The S&P 500 index advanced above its 89-day exponential moving average last week. The stock market was in a short-term upward wave with a very low market volatility. Semiconductors, Precious Metals, and Home Construction were 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 4/5/2023.
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Stocks Went Nowhere with Rising Interest Rates
Sunday, March 26, 2023
The stock market was slightly up last week although the market volatility was still high. Financials, Banks, and Real Estate are ranked as the three worst sectors with mostly weak technical strengths. We look for a minor upward wave for stocks next. The broad stock market is projected to be in a short-term bullish time-window until 3/31/2023.
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Volatile Market
Sunday, March 19, 2023
The stock market was in sideways last week. The market was volatile as our Broad Market Instability index surged over 400 level. Financials, Banks, and Real Estate are ranked as the three worst sectors with mostly weak technical strengths. Gold was bullish after a powerful breakout last week. The broad stock market is projected to be in a short-term neutral time-window until 3/22/2023.
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SVB Market Turmoil
Sunday, March 12, 2023
The stock market tumbled as SVB fallout triggered selloff last week. The market volatility jumped and readings of our Broad Market Instability index surged above the panic threshold level. Real Estate, Telecommunication, and Utilities are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 3/17/2023.
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Stocks Held above 89-Day Exponential Moving Average
Sunday, March 5, 2023
The stock market bounced from 3-week-long decline last week. Oil Equipment, Materials, and Home Construction were 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 3/20/2023.
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S&P 500 Testing 89-Day Exponential Moving Average
Sunday, February 26, 2023
The stock market declined last week. The market volatility raised as readings of our Broad Market Instability index went up above the panic threshold level. Telecommunication, Utilities, and Real Estate are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 2/28/2023.
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Sideways Market
Sunday, February 19, 2023
The stock market moved sideways last week. Utilities, Real Estate, and Telecommunication are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 2/28/2023.
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Stocks Retreated from Peak of Short-Term Upward Wave
Sunday, February 12, 2023
The stock market pulled back last week. The S&P 500 index started its short-term downward wave. Telecommunication, Utilities, and Internet are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 2/28/2023.
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Stocks on Peak of Short-Term Upward Wave
Sunday, February 5, 2023
The stock market advanced further last week. Oil Equipment, Home Construction, and Semiconductors were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is ending its short-term upward wave. The broad stock market is projected to be in a short-term bearish time-window until 2/28/2023.
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Stocks Advanced Ahead of Next Week’s Fed Meeting
Sunday, January 29, 2023
The stock market advanced last week. Oil Equipment, Precious Metals, and Home Construction were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is near the end of its short-term upward wave. Next week’s Fed interest-rate decision will impact the market. The broad stock market is projected to be in a short-term bearish time-window until 2/17/2023.
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Stocks in Choppy Week
Sunday, January 22, 2023
The stock market was choppy last week. Oil Equipment, Precious Metals, and Energy were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is near the end of its short-term upward wave. The broad stock market is projected to be in a short-term neutral time-window until 1/25/2023.
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Stocks in Short-Term Upward Wave
Sunday, January 15, 2023
The stock market was in a short-term upward wave last week. Oil Equipment, Precious Metals, and Energy were ranked as the top three sectors with mostly strong technical strengths. Gold and silver were bullish as the US dollar declined. The broad stock market is projected to be in a short-term bullish time-window until 1/24/2023.
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Stocks Range Breakout
Sunday, January 8, 2023
Last Friday the stock market broke to the upside after weekslong sideways. Oil Equipment, Precious Metals, and Energy were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is ending a short-term downward wave, and is starting a short-term upward wave. The broad stock market is projected to be in a short-term bullish time-window until 1/18/2023.
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Flat Stock Market Heading into the New Year
Sunday, January 1, 2023
The stock market was flat last week. Internet, Technology, and Consumer Services are ranked as the three worst sectors with mostly weak technical strengths. The stock market is near the end of a short-term downward wave. A short-term upward wave will be the next. The broad stock market is projected to be in a short-term bullish time-window until 1/18/2023.
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Look for Year-End Strength in Stocks
Sunday, December 25, 2022
The stock market was choppy last week. Internet, Technology, and Telecommunication are ranked as the three worst sectors with mostly weak technical strengths. The stock market is near the end of a short-term downward wave. A short-term upward wave will be the next, hopefully, with typical year-end strength. The broad stock market is projected to be in a short-term bullish time-window until 1/13/2023.
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Stocks Sliding
Sunday, December 18, 2022
The stock market continued to slide last week. The S&P 500 index was bearish under its 89-day exponential moving average. Telecommunication, Internet, and Technology are ranked as the three worst sectors with mostly weak technical strengths. The stock market is in a short-term downward wave, and a short-term upward wave will be the next. The broad stock market is projected to be in a short-term bearish time-window until 12/21/2022.
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Stocks Retreated from Short-Term Upward Wave
Sunday, December 11, 2022
The stock market pulled back last week. The S&P 500 index turned bearish after its price broke below the lower boundary of a 2-month rising wedge pattern. Telecommunication, Internet, and Technology are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 12/20/2022.
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Stocks at the Peak of Short-Term Upward Wave
Sunday, December 4, 2022
The stock market slightly up last week with a very low market volatility. Biotech, Oil Equipment, and Healthcare were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is in a 2-month rising wedge pattern, and is at the peak of its short-term upward wave. The broad stock market is projected to be in a short-term neutral time-window until 12/8/2022.
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India Stocks Hit All-Time High
Sunday, November 27, 2022
The India stock market hit all-time high last week. It is hard to believe this happened where China, Russia, and US were struggling with their own problems. The S&P 500 index is still flat in going nowhere. Internet, Telecommunication, and Technology are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 11/28/2022.
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Flat Stock Market
Sunday, November 20, 2022
The stock market was flat last week. The S&P 500 index is near the end of the short-term upward wave. Internet, Telecommunication, and Technology are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 11/28/2022.
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S&P 500 Broke above 89-Day EMA
Sunday, November 13, 2022
The stock market advanced powerfully last week. The S&P 500 index broke above its 89-day exponential moving average (EMA), and now it is in a minor a-b-c three-wave sequence of intermediate upward wave (2). Oil Equipment, Energy, and Biotech were ranked as the top three sectors with mostly strong technical strengths. Gold and silver turned bullish after the US dollar pulled back into a correction. The broad stock market is projected to be in a short-term neutral time-window until 11/28/2022.
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S&P 500 Failed at 89-Day Exponential Moving Average
Sunday, November 6, 2022
Stocks pulled back last week. The S&P 500 index failed to break above its 89-day exponential moving average and the short-term upward wave approached the end. Crude oil started to move upwards after its price broke above the upper boundary of a 4-month descending broadening wedge pattern. Internet, Technology, and Precious Metals are ranked as the three worst sectors with mostly weak technical strengths. The 30-year U.S. treasury bond is still bearish. The US dollar, gold and silver are neutral. The broad stock market is projected to be in a short-term bearish time-window until 11/17/2022.
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S&P 500 Testing 89-Day Exponential Moving Average
Sunday, October 30, 2022
The stock market advanced last week. Oil Equipment, Energy, and Biotech were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index reached its 89-day exponential moving average, and it is currently in upward minor wave 2 of the downward 1-2-3-4-5 five-wave sequence. The US dollar, gold and silver are neutral while the 30-year U.S. treasury bond is bearish. The broad stock market is projected to be in a short-term bullish time-window until 11/2/2022.
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Bounce of Stocks Resumed
Sunday, October 23, 2022
The stock market was up last week. Energy, Oil Equipment, and Biotech were ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index broke above the upper boundary of a short-term falling wedge pattern. The US dollar, gold and silver were neutral while the 30-year U.S. treasury bond tumbled. The broad stock market is projected to be in a short-term bullish time-window until 10/28/2022.
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Choppy Market
Sunday, October 16, 2022
The stock market was choppy last week. The market volatility further reduced as readings of our Broad Market Instability index dropped below the panic threshold level. Energy, Biotech, and Oil Equipment are ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index has formed a short-term bottom, and short-term upward wave 2 will the next. The broad stock market is projected to be in a short-term bullish time-window until 10/19/2022.
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Looking Forward to a Short-Term Bottom on Stocks
Sunday, October 9, 2022
The stock market had a roller-coaster week with big up and down moves last week. The market volatility has reduced a lot. Energy, Oil Equipment, and Home Construction are ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index should be forming a short-term bottom, and short-term upward wave 2 will the next. The broad stock market is projected to be in a short-term bullish time-window until 10/19/2022.
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S&P 500 Index Hit 22-Month Low
Sunday, October 2, 2022
The stock market declined further and the S&P 500 index hit a 22-month low last week. The market was very volatile as readings of our Broad Market Instability index surged above 600. Telecommunication, Semiconductors, and Internet are ranked as the three worst sectors with mostly weak technical strengths. The S&P 500 index is near the end of short-term downward wave 1 and short-term upward wave 2 will the next. The broad stock market is projected to be in a short-term bearish time-window until 10/06/2022.
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Everything Imploding Except US Dollar
Sunday, September 25, 2022
The stock market and the 30-year U.S. treasury bond tumbled further last week after the Fed raised rates by 75 basis points. The US dollar exploded to the upside and hit new 20-year high. The market volatility surged as readings of our Broad Market Instability index reached over 450. The S&P 500 index, gold, and crude oil are all in their bearish descending broadening wedge patterns. Precious Metals, Internet, and Semiconductors are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 9/30/2022.
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Hot CPI Data Triggered Meltdown in Stocks
Sunday, September 18, 2022
The stock market tumbled as the hot CPI inflation rate data triggered meltdown last week. The market volatility enhanced as readings of our Broad Market Instability index surged above the panic threshold level. The S&P 500 index is still in minor downward wave 1 inside the third intermediate downward wave. Precious Metals, Internet, and Semiconductors are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 9/26/2022.
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Stocks Rebounding
Sunday, September 11, 2022
The stock market rebounded last week. The market volatility dropped back to normal as readings of our Broad Market Instability index got below the panic threshold level. The S&P 500 index started minor upward wave 2 inside the third intermediate downward wave. Energy, Utilities, and Biotech are 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 9/26/2022.
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Stocks Extended Losses
Sunday, September 4, 2022
Stocks fell in volatile trading last week. Readings of our Broad Market Instability index surged above 100. The S&P 500 index nears the late part of minor downward wave 1 inside the third intermediate downward wave. The US dollar hit 20-year high. Precious Metals, Internet, and Semiconductors are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 9/7/2022.
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Stocks Get Volatile
Sunday, August 28, 2022
The stock market declined last week, the market volatility raised as readings of our Broad Market Instability index elevated to the panic threshold level. The S&P 500 index is bearish as its price broke below the 89-day exponential moving average. Precious Metals, Internet, and Semiconductors are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 9/7/2022.
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Stocks Bearish Reversal
Sunday, August 21, 2022
The stock market pulled back and the market momentum turned into the negative territory last week. The S&P 500 index became bearish as its price broke below the lower boundary of a multiweek rising wedge pattern. The US dollar resumed bullish upward move sharply. Precious Metals, Internet, and Telecommunication are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 9/6/2022.
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S&P 500 Index Forms a Multiweek Rising Wedge Pattern
Sunday, August 14, 2022
The stock market advanced last week. Energy, Utilities, and Real Estate are ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is forming a multiweek rising wedge pattern, and it is currently bullish but the pattern signals a breakout to the downside from the wedge sooner or later. The broad stock market is projected to be in a short-term bearish time-window until 9/7/2022.
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Stocks Stalled with Decreasing Momentum
Sunday, August 7, 2022
The stock market almost flat with decreasing momentum last week. The S&P 500 index stalled right above its 89-day exponential moving average. Utilities, Energy, and Biotech are 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 8/25/2022.
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S&P 500 Moved Back above EMA 89
Sunday, July 31, 2022
The stock market continued to advance last week. The S&P 500 index crossed above its 89-day exponential moving average. Energy, Utilities, and Oil Equipment are ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 8/3/2022.
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Watch Out Resistance at EMA 89
Sunday, July 24, 2022
The stock market advanced last week. The S&P 500 index tested the resistance 3900 and broke above it. The next resistance for the S&P 500 index will be at the 89-day exponential moving average (EMA 89) around 4050. Energy, Utilities, and Pharmaceuticals are ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 8/3/2022.
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S&P 500 Testing Resistance Level 3900
Sunday, July 17, 2022
Stocks were almost flat last week with reducing market volatility. The US dollar continued to surge and hit 20-year high while gold and silver tumbled. The S&P 500 index is neutral as it forms a 5-week ascending triangle pattern with an upper resistance level at 3900. Pharmaceuticals, Utilities, and Health Care are ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 7/20/2022.
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S&P 500 Facing Resistance Level 3900
Sunday, July 10, 2022
Stocks advanced last week, and the S&P 500 index reached a resistance level at 3900. Pharmaceuticals, Energy, and Health Care are ranked as the top three sectors with mostly strong technical strengths. The US dollar explosively broke out from a 2.5-month rising wedge pattern, and added pressure on gold and silver. The broad stock market is projected to be in a short-term bullish time-window until 7/12/2022.
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Stocks Retreated from Bounce
Monday, July 4, 2022
Stocks retreated from the previous week’s bounce. The market volatility jumped up again as readings of our Broad Market Instability index rose above the panic threshold. Internet, Semiconductors, and Consumer Services are ranked as the three worst sectors with mostly weak technical strengths. Gold and silver also turned bearish after their prices broke below the lower boundary of a 7-week horizontal trading range pattern last week. The broad stock market is projected to be in a short-term bullish time-window until 7/12/2022.
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A Big Bounce from New 2022 Low
Sunday, June 26, 2022
Stocks bounced back last week, and the S&P 500 index rose 7% sharply from its new low of this year. The market volatility calmed down a lot as readings of our Broad Market Instability index dropped below the panic threshold. Energy, Pharmaceuticals, and Consumer Goods are 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 7/12/2022.
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Stocks Made a New Low of this Year
Monday, June 20, 2022
The stock market tumbled last week, and made a new low for this year. The market was very volatile as readings of our Broad Market Instability index surged up to 500 mark. The S&P 500 index is very bearish in a confluence of both mid-term downward wave 3 and short-term downward wave 3. Internet, Home Construction, and Semiconductors are ranked as the three worst sectors with mostly weak technical strengths. The broad stock market is projected to be in a short-term bearish time-window until 6/28/2022.
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Stocks Resumed Decline
Sunday, June 12, 2022
The bear market rally for stocks ended last week, and price decline was resumed. Internet, Consumer Services, and Technology are ranked as the three worst sectors with mostly weak technical strengths. Currently both mid-term and short-term for the S&P 500 index have downward wave 3 which is the most dangerous case to the downside. The S&P 500 index is going to test a support level at 3900 this week. If the price breaks below this level, the S&P 500 index would have an immediate downside price target projected at 3700. The broad stock market is projected to be in a short-term bearish time-window until 6/28/2022.
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Bear Market Rally Stalls
Sunday, June 5, 2022
The stock market was flat last week. Energy, Oil Equipment, and Utilities are ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index may have difficulty to reach 4300 for this bear market rally. The broad stock market is projected to be in a short-term neutral time-window until 6/13/2022.
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Stocks Bounced Off a Short-Term Bottom
Monday, May 30, 2022
The stock market rebounded last week. The S&P 500 index formed “W”-shape pattern and turned short-term bullish after the price broke above the neckline of a double bottom. However, it could be just a bear market rally. Oil Equipment, Energy, and Utilities are 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 6/13/2022.
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Stocks Look to Rebound
Sunday, May 22, 2022
The stock market continued to decline and it was still volatile last week. The S&P 500 index has lost over 18% from its all time high. We are in a bear market with a pattern of lower-highs and lower-lows. Stocks perform poorly even when they are in a bullish short-term cycle. We look for a short-term rebound to break a 7-week downtrend channel. Energy, Oil Equipment, and Utilities are 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 6/2/2022.
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US Dollar Rocketed
Sunday, May 15, 2022
The US dollar extended rally to 20-year highs while gold and silver tumbled. The stock market was on a roller coaster ride for another week. Readings of our Broad Market Instability index surged up above 500 mark in the middle week, but dropped below the panic threshold level on Friday. A short-term rebound was starting for stocks. Energy, Oil Equipment, and Consumer Goods are 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 6/2/2022.
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Stock Market Roller Coaster
Sunday, May 8, 2022
The stock market was on a roller coaster ride last week. The market was very volatile as readings of our Broad Market Instability index stayed far above the panic threshold. Based on Elliott wave analysis, the S&P 500 index is in the late part of the first short-term downward wave inside the third intermediate downward wave. A short-term rebound wave will be the next. Energy, Oil Equipment, and Consumer Goods are 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 6/1/2022.
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Big Moves in Stocks and US Dollar
Sunday, May 1, 2022
The stock market tumbled last week. The S&P 500 index is in the third intermediate downward wave based on Elliott wave analysis. This wave typically has a significant move in terms of the price range. The US dollar advanced sharply last week. Energy, Oil Equipment, and Consumer Goods ranked as the top three sectors with mostly strong technical strengths. The broad stock market is projected to be in a short-term neutral time-window until 5/3/2022.
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Stocks Tumble
Sunday, April 24, 2022
The stock market closed sharply lower while the US dollar extended its rally last week. Energy, Oil Equipment, and Consumer Goods ranked as the top three sectors with mostly strong technical strengths. Gold, silver, and crude oil currently are neutral before their next breakouts. The stock market reaches the trough of a short-term cycle. The broad stock market is projected to be in a short-term neutral time-window until 4/28/2022.
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Weakening Stocks and 30-Year Treasury Bond
Sunday, April 17, 2022
The stock market and 30-year U.S. treasury bond drifted lower with weakening momentum and rising volatility last week. The US dollar, gold, silver, and crude oil were bullish following their technical upside breakouts. Currently Oil Equipment, Energy, and Precious Metals 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 4/21/2022.
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Bearish Outlook on Stocks
Sunday, April 10, 2022
The stock market was weakening with increasing volatility last week. The S&P 500 index just ended intermediate upward wave (2) and started intermediate downward wave (3) which it is likely to have a significant move. Currently Energy, Oil Equipment, and Precious Metals ranked as the top three sectors with mostly strong technical strengths. The US dollar is bullish with a breakout from a 5-week descending triangle pattern. The broad stock market is projected to be in a short-term bearish time-window until 4/20/2022.
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Stock Rebound Nears End
Sunday, April 3, 2022
Last week the stock market started to pull back after the recent rebound. The S&P 500 index is going to test its 89-day exponential moving average again, and intermediate downward wave (3) will be the next. Currently Oil Equipment, Energy, and Precious Metals 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 4/20/2022.
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Flat Market
Sunday, March 27, 2022
The stock market slightly drifted up last week. Energy, Oil Equipment, and Precious Metals ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index currently is above its 89-day exponential moving average, and it is close to the late part of the current upward wave. The broad stock market is projected to be in a short-term bullish time-window until 3/30/2022.
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Stocks Rebounded
Sunday, March 20, 2022
The stock market rebounded sharply last week. The S&P 500 index currently is right below its 89-day exponential moving average, and it in an upward wave which could be counted as the second wave of a corrective 5-wave sequence. Energy, Oil Equipment, and Precious Metals ranked as the top three sectors with mostly strong technical strengths. The US dollar and crude oil are neutral. The broad stock market is projected to be in a short-term bullish time-window until 3/30/2022.
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Volatile Week for All Markets
Sunday, March 13, 2022
It was a volatile week for stocks, crude oil, US treasury bonds, US dollar, gold and silver. Both crude oil and the US dollar have reached our short-term price targets. Oil Equipment, Energy, and Precious Metals ranked as the top three sectors with mostly strong technical strengths. The S&P 500 index is close to the late part of the first intermediate downward wave. The broad stock market is projected to be in a short-term bullish time-window until 4/5/2022.
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Breakouts on Crude Oil, US Dollar and US Treasury Bond
Sunday, March 6, 2022
The prices of crude oil, the US dollar, and the 30-year U.S. treasury bond had upward breakouts while the stock market was almost flat last week. Energy, Oil Equipment, and Precious Metals 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 3/7/2022.
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Volatile Market Sparked by Ukraine Crisis
Sunday, February 27, 2022
The volatility was sparked by a Russian invasion of Ukraine, and the stock market was on a roller coaster ride last week. Energy, Oil Equipment, and Precious Metals ranked as the top three sectors with mostly strong technical strengths. Currently the S&P 500 index is below its 200-day exponential moving average with a downside risk. The broad stock market is projected to be in a short-term bearish time-window until 3/7/2022.
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S&P 500 Index Below 200-Day Moving Average
Sunday, February 20, 2022
The stock market declined last week, and it is bearish with a significant downside risk while the S&P 500 index broke below its 200-day exponential moving average. Energy, Oil Equipment, and Precious Metals 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 3/7/2022.
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Weakening Stock Market
Sunday, February 13, 2022
The stock market was weakening last week. The S&P 500 index could not stay above its 89-day exponential moving average. Now it is going to test the 200-day exponential moving average again. Energy, Oil Equipment, and Consumer Goods ranked as the top three sectors with mostly strong technical strengths. The price of crude oil continued moving higher towards our price target 94.6. The 30-year U.S. treasury bond is still bearish while the US dollar and gold are neutral. The broad stock market is projected to be in a short-term bullish time-window until 2/15/2022.
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S&P 500 Index Stepped above 200 Day Moving Average
Sunday, February 6, 2022
The S&P 500 index moved back above its 200-day exponential moving average, but still below its 89-day exponential moving average. The market volatility dramatically reduced last week. The S&P 500 index now is in a short-term upward wave. Energy, Oil Equipment, and Consumer Goods ranked as the top three sectors with mostly strong technical strengths. The price of crude oil continued moving higher. The 30-year U.S. treasury bond is still bearish while the US dollar and gold are neutral. The broad stock market is projected to be in a short-term bullish time-window until 2/15/2022.
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Markets Wrap Up Volatile Month
Sunday, January 30, 2022
The stock market was very volatile last week as readings of our Broad Market Instability index surged to 22-month high. The S&P 500 index has breached its 200-day exponential moving average to the downside, and it has developed the first intermediate downward wave. The S&P 500 index will test the 200-day exponential moving average again for a potential rebound this week. Energy, Oil Equipment, and Consumer Goods ranked as the top three sectors with mostly strong technical strengths. The US dollar index advanced sharply after the price broke above its 2-month descending broadening wedge pattern last week. The broad stock market is projected to be in a short-term neutral time-window until 2/2/2022.
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Stocks Test Support at 200-Day Moving Average
Sunday, January 23, 2022
The stock market declined sharply last week as readings of our Broad Market Instability index surged above the panic threshold level. The S&P 500 index broke below its 89-day exponential moving average, and now it is in the first intermediate downward wave with a downside price target projected at 4380. The 200-day exponential moving average will be tested for a support this week. Energy, Oil Equipment, and Consumer Goods 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 1/25/2022.
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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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August 28, 2011 at 1:39 pmFS – Gold Could Correct To $1,500: Technical Analysis « Aaron Basile
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August 25, 2011 at 4:15 amHow Low Will Gold Go in This Correction? | FavStocks
