The U.S. market has shifted back to a Downtrend. The S&P 500 and Nasdaq undercut their respective February 28 lows, killing the
attempted rally. We are now again looking for indices to establish and hold above a new low for three sessions before looking for a follow-through day. The next level of support is 2,728 on the S&P 500 and 7,700 on the Nasdaq.
Symbol: YETI
US Focus
The U.S. market remains in a Rally Attempt. The S&P 500 and Nasdaq have now held above the February 28 intraday low (S&P 500: 2,855; Nasdaq: 8,264) for six sessions, despite heavy selling to close the week. Monday will mark day seven of the attempted rally with a follow-through day still needed to move to Confirmed Uptrend. If these lows are undercut, however, the market status shifts back to a Downtrend and we again look for indices to establish and hold above another new low.
US Focus
The U.S. market is in a Downtrend. The S&P 500 and Nasdaq have broken below all major moving average support levels this week. The next level of price support is ~2,822 on the S&P 500 and 8,243 on the Nasdaq.
US Focus
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 21-DMA after making new all-time highs earlier in the week. Distribution did rise over the last several sessions, though one day will expire on both indices next week. We will likely shift the market status back to Uptrend Under Pressure should indices close below the 21-DMA in the coming days. The next level of support below the 21-DMA is the 50-DMA (S&P 500: 3,274 (-1.9%); Nasdaq: 9,228 (-3.8%).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed mid-range on the session and avoided distribution.
Near-term support remains the rising 10- and 21-DMA and distribution is unchanged at three days each.
US Focus
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.
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.
