The U.S. market status remains in a Confirmed Uptrend. The S&P 500 convincingly cleared above resistance at 4,200 this week and is now set to test the next level at 4,325. The Nasdaq closed above resistance at 13,181 with the next level at ~13,700. Support for both indices is along the rising 10-DMA (4,198/12,878) and 21-DMA (4,170/12,646). The distribution day count stands at seven and four, respectively, with three days expiring on the S&P 500 and two on the Nasdaq next week.
Tag: Confirmed Uptrend
Market View
The U.S. market status remains in a Confirmed Uptrend. The S&P 500 rallied from 50-DMA (4,100) support for the third time in the last month and is now again testing resistance just above 4,200 before the next level of 4,325. The Nasdaq rallied strongly from 21-DMA (12,442) support and is now trading just under the next level of resistance of 13,181. The distribution day count stands at seven and three, respectively, with one day expiring on the S&P 500 next week and multiple days falling off both indices the week after.
Market View
The U.S. market status remains in a Confirmed Uptrend. The S&P 500 made a new year-to-date high Thursday, clearing resistance at 4,195. The next level of resistance is 4,325, while near-term support is again the rising 21-DMA (4,133). The Nasdaq, which made a new year-to-date high last week, is now facing resistance at ~12,655, with the next level at 13,181. Support is also the rising 21-DMA (12,284). The distribution day count stands at seven and three, respectively, with one day expiring on each index next week.
Market View
The U.S. market status remains in a Confirmed Uptrend. The S&P 500 pulled back for a second straight week, remaining rangebound below year-to-date high resistance at 4,195 and above support at its 50-DMA (4,058). The Nasdaq made a new year-to-date high Wednesday, clearing above resistance at 12,269. The next level of resistance is ~12,655 before 13,181 while near-term support is again the rising 21-DMA (12,135). The distribution day count stands at six and five, respectively
Market View
The U.S. market status remains in a Confirmed Uptrend. The S&P 500 and Nasdaq rallied from 50-DMA (4,042/11,846) support for a second straight week to remain within a range and just below resistance at February highs (4,195/12,269). The distribution day count increased to five and six, respectively, with one day expiring on the Nasdaq next week.
O’Neil Market View
The U.S. market status has shifted back to a Confirmed Uptrend. The S&P 500 and Nasdaq rallied strongly from 50-DMA (4,034/11,800) support this week to quickly regain 21-DMA (4,102/12,016) support and move back toward year-to-date (4,195/12,269) high resistance. The distribution day count remains at two and four, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat for a third straight
week, consolidating gains above 21-DMA (4,093/12,009) support and below February high resistance (4,195/12,269). The
distribution day count stands at one and three, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat for a second straight
week, consolidating gains above 10- and 21-DMA (4,062/11,945) support and below February high resistance
(4,195/12,269). The distribution day count stands at zero and three, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 traded relatively flat this week, consolidating sharp three-week gains above 10- and 21-DMA (4,027) support with the next level of resistance at the February high of 4,195. The Nasdaq pulled back 1.1%, also consolidating gains above its 21-DMA (11,868) with resistance at its February high of 12,269. The S&P 500 has yet to record a distribution day, while the Nasdaq has added one.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat for the week, continuing to consolidate year-to-date gains narrowly above 21-DMA (4,077/11,684) support. We will shift the market status to Uptrend Under Pressure should both indices close below this moving average. Support below this level for the S&P 500 is the 50-DMA (3,978), while the Nasdaq’s next level is the 200-DMA (11,422). Distribution increased to five and three, respectively, with one day expiring on each index next week.
