U.S Equity Index’s Overview – A Repeating Pattern The Bull Thesis – Ascending Triangles The 200 day (blue line on each chart) is squeezing price up towards each red resistance line making each chart look like an ascending triangle (evident on every chart). With the 200 day as underside support for price and the 200 day sloping upwards, things remain...
General Major Market Indices These six market indices give a very good snapshot of where we are in this difficult to discern market and why uncertainty still lingers as we continue to climb a wall of worry. The Chart ▫️ Every index 1 - 6 below has been rejected or is struggling to make new highs on the weekly timeframe. ▫️ At the same time each chart...
Macro Monday 17 The Dow Theory Confirms Bear Market Today’s post may be thee most important Macro Monday of 2023 as it may be a key moment where we received technical confirmation of a change to a bear trend. What’s Got Me Rustled? Manuel Blay, the lead economist and editor from the Dow Theory has recently confirmed an S&P500 bear trend change to his...
NYSE Arca Major Market Index - TVC:XMI The XMI Index is a chart that gets overlooked by many but it is still monitored by OG legacy traders. I recently came across the XMI being utilized by Sentiment Trader in one of their reports, considering that Sentiment Trader provide some of the best metrics in the business, their coverage of the XMI peaked my...