‘S&P 500’ Archive

Big test for those that have been wrong, says Joe Friday

joefriday dual test of support feb 12


In May of last year, the S&P hit a key level and stopped on a dime. We applied Fibonacci tools to the highs in 2007 and the lows in 2009, to the chart above. The 161% Fibonacci extension level came into play in the 2,150 zone last year, and when …

5-Year bull trend is ending, breaking below support

broken heart

The Power of the Pattern would describe a bull trend, based upon a series of higher lows and higher highs.

Using this definition, the broadest of indices in the states, are “breaking 5-year rising trends!” This could break the heart of the bulls.

wilshire valu line break 5 year support feb 11


This 2-pack reflects that these two broad …

Transports working on breakout, after being hit very hard!

punched in the gut pic

When it comes to getting hit hard, the Dow Jones Transportation Index fits the bill over the past year. Few if any major indices have fallen harder, over the past 12-months.

Below looks at the DJ Transportation Index/S&P 500 ratio over the past decade. The ratio reflects that over the past year, the index has …