The U.S. market remains in a Confirmed Uptrend. The S&P 500 and the Nasdaq gained +2% and touched another new all-time
high. Short-term support for both indices remains at their respective 10-DMA (5,184/16,242) followed by the rising 21-DMA
(5,136/16,117). The distribution day count declined to four and seven, respectively, with another day set to expire on each index after
the close on Monday.
Tag: Confirmed Uptrend
Market View
The U.S. market remains in a
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq bounced off 21-DMA support (5,055/15,929) mid-week but staged a downside reversal on Friday. However, both indices remain near all-time highs and above 21-DMA support. The distribution day count increased to eight on the Nasdaq and remains at five on the S&P 500 with one day expiring on each index next week.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 finished strong and closed the week up 1%, while the Nasdaq gained 1.7%. Neither index has any remaining resistance as the S&P 500 continued further into all-time highs and the Nasdaq surpassed its 2021 peak of 16,212 for the first time. Indices have the first level of support at their 10-DMA (5,059/15,935). Below that, the 21-DMAs are the most major level of support (5,016/15,819). The distribution day count on each index stands at six, with one set to expire in the coming week.
Market View
The U.S. market remains in a Confirmed Uptrend. Indices rallied off moving average support as the S&P 500 remains at all-time highs while the Nasdaq is testing resistance along ~16,000. Support for the S&P 500 and Nasdaq is at their respective rising 10-DMA (5,018/15,808), followed by the 21-DMA (4,969/15,660). The distribution day count on each index stands at five.
Market View
The U.S. market remains in a Confirmed Uptrend. This week, the S&P 500 fell 0.4% while the Nasdaq fell 1.4%. Both indices bounced from 21-DMA support (4,936/15,582) but closed a bit off the highs established on Monday. The S&P 500 is still well into all-time highs while the Nasdaq is about 2% below its Q4 2021 peak (16,212). Indices are about 4% extended from their 50-DMA (4,813/15,134). The distribution day count stands at five and four, respectively, after each index picked two this week (Tuesday and Friday).
Market View
The U.S. market is in a Confirmed Uptrend. Indices gained 1–2% this week and continue to trade constructively above short-term
moving averages. The Nasdaq is testing resistance along the 16,000 level while support for the both indices is at their respective 10-
DMAs (4,953/15,643), followed by the 21-DMAs (4,895/15,431). The distribution day count stands at three and two, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq were up 1.4% and 1.1%, respectively, this week. The indices rose for a fourth week and for the thirteenth time in 14 weeks. Indices bounced from support at respective 21-DMAs (4,840/15,228) and once again made new 52-week (S&P 500 made all-time) highs to end the week. The distribution day count for both indices remains at six and three, respectively. However, four distribution days on the S&P 500 and two on the Nasdaq are set to expire next week.
Market View
The U.S. market is in a Confirmed Uptrend. Indices gained ~1% for the week as the S&P 500 continues to trade near all-time
highs while the Nasdaq is only ~5% off its all-time high of ~16,200. Support for both indices is at their respective rising 10-DMA
(4,840/15,282). The distribution day count stands at five and two, respectively, with none expiring next week.
Market View
The U.S. market has been shifted back to a Confirmed Uptrend from Uptrend Under Pressure. The S&P 500 gained 1.2%
for the week, breaking into fresh all-time highs after rising from support at its 21-DMA. The Nasdaq rose 2.3% and pushed above its
December peak of 15,150 to make new two-year highs. First support for the indices is once again the rising 10-DMA (4,769/14,928).
The S&P 500 has no remaining overhead, while the Nasdaq is about 4% below the next level of potential resistance from December
2021 peak of ~15,900. The distribution day count stands at six and three, respectively, with none set to expire next week.
