The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to trend into higher highs, above all major moving averages. Near-term support remains the rising 10- and 21- DMA. Distribution stands at three days each with one day expiring on the Nasdaq next week.
Symbol: AVLR
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to press into higher highs, trending off their
respective 10-DMA. Distribution remains at three days each with one day expiring on the Nasdaq next week.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq gapped up, making new all-time highs for a second
straight session before pulling back intraday and closing near the lows of the session. The Nasdaq closed relatively flat in higher volume,
stalling or churning at new highs, which could indicate a potential pause in this recent sharp move higher. Support remains the rising 10-
and 21-DMA with distribution unchanged at three days each.
US Focus
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq remain near all-time highs and above all major moving average support, despite Friday’s pullback. Distribution now stands at three days each after multiple days expired this week.
US Focus
The U.S. market is in an Uptrend Under Pressure. The S&P 500 and Nasdaq traded sharply lower Friday, closing back below their respective 21-DMA. Distribution increased to five and four days, respectively. Two distribution days will expire on the S&P 500 and one on the Nasdaq next week. The sharply rising 50-DMA (S&P 500: 3,211; Nasdaq: 8,940) is the next level of support on both indices
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq staged downside reversals Friday, closing at their respective 10-DMA. Distribution rose to four and three days, respectively. We are now looking for indices to find support at their respective 21-DMA (S&P 500: 3,271; Nasdaq: 9,179) should weakness persist early next week. We will likely shift the market status to Uptrend Under Pressure should this level break as the next level of support is the 50-DMA, which is 3-5% below current levels.
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to trend into higher highs with just two distribution days each. Near-term support remains the sharply rising 10- and 21-DMA.
Market View
U.S. Market
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq staged downside reversals Friday
but continue to hold trend with a low number of distribution days. Near-term support remains the rising 10- and
21-DMA. Distribution stands at three days on the S&P 500 and two on the Nasdaq, with one day expiring on
each Tuesday.
Ten of 11 sectors, 152 of 197 industry groups, and 73% of S&P 500 stocks are trading above their respective
50-DMA. Leading industry groups over the past week include Software ( CRM ), Internet ( GOOGL ), Medical
Equipment ( ISRG ), Managed Care ( UNH ), Aerospace/Defense ( CAE ), and Payment Processors ( GPN ). Lagging
industry groups over the past week include Transportation Equip Mfg ( TRN ), Oil & Gas ( NBL ), Mining ( AG ), and
Discount Retail ( OLLI ).
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq staged downside
reversals Friday but continue to hold trend with a low number of distribution days. Near-term
support remains the rising 10- and 21-DMA. Distribution stands at three days on the S&P 500
and two on the Nasdaq, with one day expiring on each Tuesday.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq made new all-time highs, continuing to trend off 10-DMA
support. Distribution fell for a second straight session to three and two days, respectively.
