SPY on the 2H chart shows the past six months of trend. SPY has been in an ascending channel but fall out of the channel. Iran's ambition to retliate against Israel and the movement of US NAVY warships into the the Middle East raises concerrn as does "sticky inflation" and early earnings reports from big banks. On the chart, trend angle analysis suggests the...
GM on the weekly chart has ascended to the top of the high volume area of the long term volume profile. The predictive algorithm forecasts a bounce down from that level. The MACD indicator shows lines crossing over the histogram while the RSI lines are in the 60s about the same level as the market pivot in 2022. The Supply / Demand indicator has the...
My cautious call of 2 weeks ago may have been premature (see link below). However, we are now seeing additional cautionary signals on the SPX : 1. Two consecutive down days at the beginning of this week; 2. Visible break yesterday on the index (gap down); 3. Reasonable volume on the downside; 4. Traded and closed below SMA10; 5. Tech...