Evidence is mounting that SPX is coming to another inflection point. The warning signs are detailed in the Market Overview section (above). These, and the fact that September is notorious for being the weakest month of the year, combine...
SPX had a good rally after meeting its stated downside target. Last week’s behavior -- which found strong overhead resistance exactly where it should have -- has brought an aura of uncertainty about what comes next. At the very least,...
The SPX does not seem to be quite ready to start an important correction, but this may not be the case after it makes a new, and potentially final, high. The current near-term decline could have ended on Friday, or may do so on Monday....
Based on the weak condition of the daily indicators, the odds favor that the SPX will continue its decline. A break below last week’s low would warn of a much more substantial correction. Already some clear and valid projections are in...
Another minor top appears to be forming, preceding a correction which should exceed the former one in depth; but limited and very short-term (not lasting more than a few days). After this correction is over, another attempt at making a new...
It took another week for the top formation to ripen and, if my indicators can be trusted, it now looks ready to pick! Besides negative divergences in all the daily and hourly oscillators, a P&F projection has been reached, and the...
The anticipated short-term peak in prices has now shaved off 30 points from the SPX’s 1955 all-time high which occurred on 6/09. Because of the market’s current cyclical configuration and its technical condition, there is a good...
By holding above an important support level, SPX has encouraged some buying to take place. On Friday, it challenged the previous all-time high of 1892 and, judging by the action of the futures over the week-end, it should trade beyond...
On Friday, SPX tried to move through the top of its consolidation pattern and failed! This brought about a wave of selling which, by the end of the day, had created a key reversal. This type of pattern often signals the end of a trend...
Last week, SPX re-tested its 1883 high but was only able to surpass it by a fraction before being pushed back. Another attempt is likely this week if the pattern it is making is correctly being analyzed as an ending diagonal. This should...