‘S&P 500’ Archive

S&P 500- Dangerous if weakness takes place at this level!

spx testing 61 Fib retracement level mar 8

CLICK ON CHART TO ENLARGE

The S&P has had a good rally over the past 30-days. This rally has taken the S&P up to its 61% Fibonacci retracement level, of the highs last year and the lows of a month ago.

Over the past year, the S&P remains in a downtrend (lower highs and lower …

Leading indicator (DAX) attempting to breakout, will S&P follow?

dax testing falling resistance

CLICK ON CHART TO ENLARGE

Germany’s DAX index remains very important on the global stage. The DAX index remains inside of rising channel, that has been in play over the past 5-years. Last year the DAX hit the top of the rising channel at (1) and then it started heading lower.

The weakness in the …

S&P, Bonds and Utilities each create reversal patterns!

spx bullish wicks tlt xlu bearish wicks mar 1

CLICK ON CHART TO ENLARGE

Two times in the past 7-weeks the S&P 500, on  a weekly basis, has created bullish reversal patterns (bullish wicks) at 2-year horizontal support.

At nearly the same time, interest sensitive Government Bond ETF (TLT) and Utilities (XLU) have created bearish reversal patterns (bearish wicks) at resistance lines.

Potential message …