‘S&P 500’ Archive

Large Bullish Wick takes place at support, of hardest hit sector!

  CLICK ON CHART TO ENLARGE The past 90 days have not been kind to Crude Oil or Energy Stocks. Energy ETF XLE is down 15% in the past 90 days, talking about a big punch in the face! This decline took XLE back to rising support off the 2010 lows and created a large […]

Careful, the S&P 500 faces Herman Munster sized resistance test

CLICK ON CHART TO ENLARGE  The S&P 500 has remained above rising support line (1) for nearly 5 years . The decline in stock prices this month took the S&P below this support line and below its 100MA for the first time in years.  The rally in prices over the past week now has the […]

Big rallies mean a bear market is about to start?

CLICK ON CHART TO ENLARGE Regardless of the asset, some of the biggest rallies often take place during bear markets, NOT in bull markets. Many suggest the reason this takes place is massive short covering, hence a short covering rally. My friend Ryan Detrick shared this chart with me, which reflects that yesterday was the biggest […]