US stocks have come under immense downward pressure of late. Amidst this came signs late last week that a relief was overdue. Several indicators are languishing in oversold territory, an unwinding of which could unleash upward pressure for stocks. The … Continued
In the wake of the Fed’s hawkish tilt last week, tech came under pressure, though nothing major yet. This is taking place even as some internals are showing cracks. The Nasdaq 100 tumbled 3.3 percent last week. This was a … Continued
Under pressure in recent weeks, major US equity indices ended last week right on support. In a seasonally favorable period, virtually no one thinks the latest decline can – and will – turn nasty. For that not to happen, bulls … Continued
Major US equity indices all had a positive week last week, but with a varying degree of success. The S&P 500 broke out of dual resistance with bullish marubozu on Thursday and Friday, the Russell 2000 was denied at crucial … Continued
Even as tech shorts have meaningfully increased their activity, Nasdaq 100 longs have tried to put foot down just under the 50-day. A takeout of the average can shift sentiment – duration notwithstanding. Tech bulls are trying hard to put … Continued
After massive rallies since the lows of March, major US stock indices saw sellers show up later last week at/near important resistance. Some indicators made a quick switch from fear to greed. This is coming at a time when the … Continued
Bears are making a killing. Stocks have come under renewed selling pressure. The S&P 500 is very close to losing 20 percent on a closing basis. Amidst this, fresh from a 50-basis-point emergency cut of last week, the FOMC meets … Continued
Major US equity indices took a beating last week, but, thanks to Friday’s reversal, they closed substantially off their lows, defending crucial support and the 50-day. Concurrently, VIX suffered a spike reversal. It is equity bulls’ ball to lose near … Continued
The 3Q18 earnings season begins in earnest next week. Small-caps have sold off big into this (more on this here), but not large-caps. The Dow Industrials Wednesday rose to a fresh high, although the session produced a candle with a … Continued
The Nasdaq 100 index/QQQ could be potentially forming the right side of a bearish head-and-shoulders pattern. This week’s action could provide further clues. The US economy is one month short of completing nine years of expansion. The recovery has been … Continued