The U.S. market remains in a Confirmed Uptrend. Indices pulled back ~1%, breached their 21-DMA (5,782,18,326) and are testing support at their 50-DMA (5,702, 17,953). The distribution day count increased to five on the S&P 500 and remains at three on the Nasdaq.
Tag: Confirmed Uptrend
Market View
U.S. Market
The U.S. market remains in a Confirmed Uptrend. The S&P 500 fell 1.0% while the Nasdaq rose 0.2%, respectively for the week. Both are trading 1% off highs. Indices are holding their 21-DMA support (5,784; 18,266), with three distribution days each.
Market View
The U.S. market is in a Confirmed Uptrend. Indices are in an uptrend as the S&P 500 remains at all-time highs, with the Nasdaq approaching resistance near the July peak of 18,671. Support for both indices is at the rising 10 and 21- DMAs (5,761, 18,146). The distribution day count stands at two and four, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and the Nasdaq rose 1.1% apiece on the week. The S&P 500 is
trading at all-time highs, while the Nasdaq is 2% off highs. Look for support at their rising 21-DMA (5,711/17,985) to maintain the
immediate positive trend. The distribution day count remains at one and three, respectively
Market View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq traded lower for most of the week before closing strong on Friday to each end with a slight weekly gain. Support for both indices is at their respective 21-DMA (5,673; 17,840). The distribution day count stands at zero and two, respectively.
Market View
The U.S. market is in a Confirmed Uptrend. Indices continue to consolidate recent gains as the S&P 500 is trading at all-time highs while the Nasdaq is only 3% off its high. The first level of support for both indices is at the 10-DMA (5,696, 17,920) followed by the rising 21-DMA (5,614 ,17,573) . The distribution day count stands at zero and one, respectively.
Market View
The U.S. market has been upgraded to a Confirmed Uptrend from a Rally Attempt. The S&P 500 was up 1.4% for the week, staging a Day 9 follow-through day on Thursday and moving into all-time highs. The Nasdaq rose 1.5% for the week but narrowly missed a follow-through day on Thursday, as volume was a bit lower than the prior day. It is testing the midpoint of a 10-week range (18,018) and remains about 4% off all-time highs. The Nasdaq did pick up a Distribution Day on Friday while the S&P 500 avoided one. Rising 21-DMA support for each index is 2-2.5% below (5,585/17,515).
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 was up slightly for the week and continues to trade in a tight sideways range above its 10-DMA (5,590). The Nasdaq declined ~1% this week and is testing its 50-DMA (17,628). The distribution day count increased to one and three, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 continued a V-shaped recovery and closed 1.5% higher for the week, ending just 1% off all-time highs (5,670). Support is at the 10-DMA (5,536) and then the 21-DMA (5,497). The Nasdaq rose 1.4% for the week, retaking the 50-DMA (17,639), which may now act as support. It remains about 4% off all-time highs (18,671). The distribution day count is at zero and one, respectively.
Market View
The U.S. market was shifted to a Confirmed Uptrend. Each index staged a follow-through day after posting strong weekly gains.
The S&P 500 has regained its 50-DMA (5,464) and is testing price resistance along ~5,566. The Nasdaq is slightly above its 50-DMA
(17,585) and attempting to settle above this key moving average. No distribution days on either index.
