Increasing signs of stalling out in US Equities ahead of a potentially very important Jobs report on Friday (8/5), and stock indices largely continue to be fairly resilient amongst a sea of gloom on the economy and earnings.  To the bears’ chagrin, this rally has...

VIX down to support as “FAANG” hits resistance

Treasury yields likely to bounce further after hitting support

Given the degree of sideways trading in Equities over the last week, the real focus should be on what’s happening in Foreign Exchange (FX) as well as Treasuries.  US 10-Yr Yields look to have found good initial support near 2.70%, a meaningful support level coinciding with lows over the last...

DJ Transportation Avg. breaks yearly support

Wednesday’s about-face looks serious and likely leads prices down to 3800 initiallyTreasury yields look to be rolling over and should continue down into JuneDJ Transportation Avg has broken down to new yearly lows https://vimeo. com/711384269 Wednesday’s decline was severe enough to suggest that a move back to lows to test...

Both US Equities and Bitcoin near temporary Support

SPX and QQQ look to be nearing initial support after recent weakness.Some of this week’s biggest areas of weakness- Transports and Semiconductor issues, are now closing in on “Make-or-Break” support which looks likely to hold on this retest.Implied volatility looks attractive to own on a 2-3 month basis after its...

Intra-day reversal holds trendline support, for now

Technical Strategy Video: https://vimeo. com/664488793/e1f410ef88 While a short-term bottom could materialize for US equity indices this week, it’s right to expect further weakness into late January before any meaningful low is at handSector strength in Financials and Energy continues to hold markets up, creating a sloppier selloff than what...

  • Technical Strategy
Fri June 12, 2020

Slide Does Technical Damage But Doesn’t End Rally Mode

Last week’s market drop-off did considerable technical damage to many charts BUT there are a few silver linings we would encourage investors to consider. The Standard & Poor’s (SPX), along with many stocks, notably cyclicals, were overbought at resistance heading into the beginning of this week. The SPX has pulled...