The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back towards 21-DMA (4,054/11,548) support this week, consolidating sharp year-to-date gains. Should this level break, the next level for the S&P 500 is the 50-DMA (3,969), while the Nasdaq’s next level is the 200-DMA (11,438). Distribution remains relatively low at three and two, respectively, with no expiration next week.
Tag: Confirmed Uptrend
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq rallied strongly for a second straight week, clearing above 4,100 and 200-DMA resistance, respectively. Near-term support is now the sharply rising 10-DMA (S&P 500: 4,076; Nasdaq: 11,645). The distribution day count stands at four and two, respectively, with two days expiring on the S&P 500 and one on the Nasdaq next week.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq rallied strongly this week, with both now trading above all key moving averages including the 200-DMA (S&P 500: 3,958; Nasdaq: 11,507). This level will now act as initial near-term support until other shorter-term moving averages rise above. The next level of resistance on the S&P 500 is 4,100 to 4,119, while the Nasdaq’s next test is its September high of 12,270. The distribution day count remains at three and two, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq shook out below their respective 50-DMA (S&P 500: 3,929; Nasdaq: 10,908) Thursday, before strongly regaining that level Friday. The S&P 500 now faces a range of resistance between 4,015 to 4,100, while the Nasdaq has resistance from ~11,492 to its rolling 200-DMA (11,567). 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 narrowly regained its 200-DMA (3,981) this week, with the next level of resistance at 4,100. The Nasdaq regained its 50-DMA (10,866) and is now testing resistance at the falling 100-DMA (11,058). The distribution day count remains unchanged at two and one, respectively.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed the week strong, with the Nasdaq staging a Day 6 follow-through day Friday. The S&P 500 is now trading just below 50-DMA (3,904) resistance, while the Nasdaq faces resistance at its 21-DMA (10,627) before the 50-DMA (10,873). The distribution day count stands at two and one, respectively.
Market View
The U.S. market is in a Confirmed Uptrend. The S&P 500 staged a Day 5 follow-through Thursday, resulting in a rules-based upgrade of the market status. To remain intact, the S&P 500 should hold the December 22 low of 3,764. Despite the move and subsequent upgrade, there remain multiple levels of near-term resistance, including the 10- 21-, 50-, and 100-DMA, which are trading between 3,851 and 3,903. Further, the Nasdaq has yet to stage a FTD, still trading just 3% from year-to-date lows. The earliest a FTD can take place on this index is Wednesday. The 50-DMA (10,911) remains primary resistance despite the 10- and 21-DMA now trading below that level.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 regained its 200-DMA (4,046) this week and is now
consolidating gains above all key moving averages. Support below this level is the rising 21-DMA (3,960) with the next
level of resistance at the September high of 4,119. The Nasdaq is still finding resistance at its 100-DMA (11,503) with the
next level above that at the rolling 200-DMA (12,026). The distribution day count stands at five and three, respectively, with
two days expiring on the S&P 500 and one on the Nasdaq next week.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 rallied from 100-DMA (3,918) support this week to close just below logical near-term resistance at its rolling 200-DMA (4,057). Resistance above this level is the September high of 4,119. The Nasdaq, which is trading ~30% off highs, held 50-DMA (10,907) support despite still trading below near-term resistance at it 100-DMA (11,510). Resistance above this level is the falling 200-DMA (12,094). The distribution day count stands at six and two, respectively, with two days expiring on the S&P 500 and one on the Nasdaq next week.
Market View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back this week, consolidating
very sharp one-week gains above near-term support at the 100-DMA (3,910) and 50-DMA (10,956), respectively. The S&P
500 still faces resistance at the rolling 200-DMA (4,067) followed by the September high of 4,119. The Nasdaq touched
100-DMA (11,511) resistance Tuesday before pulling back to support over the last three sessions. The distribution day
count stands at six and two, respectively
