Written by Forrest Crist-Ruiz
Tuesday, we talked about the 6-month calendar range as a support level to hold in both the S&P 500 (SPY) and the Nasdaq 100 (QQQ).
Wednesday, both indices were able to hold support from their calendar …
Written by Forrest Crist-Ruiz
Calendar ranges have been used for a long time in charting as important levels to clear or break down from.
Investors can view price as bullish when over the range and bearish when trading under.
We …
Written by Forrest Crist-Ruiz
While the major indices continue to weaken, U.S factories have seen a 1.2% increase in orders in August.
This shows that although equities are struggling, the demand for goods is steady.
Therefore, now is the time …
Written by Mish
The U.S Dollar chart as represented by UUP, the Invesco DB US Dollar ETF, shows some classic signs of a top.
Before I delve deeper into the technicals though, let’s look at the fundamental reasons for the …
Written by Forrest Crist-Ruiz
Wednesday showed weakness in key sectors including the biotech (IBB), semiconductors (SMH), and the transportation sector (IYT).
We have closely been watching the transportation sector for improving strength as it has attempted to clear its 50-Day …
Written by Mish
As many of you know, I am on many media outlets talking about the market, commodities, the state of the economy, and yes-I was one of the first to talk about stagflation.
Oftentimes, I am joined by …
Written by Mish
The key sector to reflect optimism/pessimism about consumers, industrial demand, supply chain issues and the upcoming budget proposals is Transportation (IYT).
The Retail sector improved to start the week. As measured by XRT, we see an improved …
Written by Forrest Crist-Ruiz
Friday the transportation (IYT) sector made a comeback from this week’s lows along with clearing resistance from its 200-Day moving average (DMA) at $249.46.
Next it will need to clear its 50-DMA at $252.16.
A strong …
Written by Forrest Crist-Ruiz
Wednesday the Fed announcement continued past promises of reducing their bond-buying program and keeping interest rates low.
The 120-billion-dollar bond-buying program will first look to reduce 15 billion per month beginning near the end of the …
Written by Forrest Crist-Ruiz
Tuesday the Market attempted a recovery with an initial gap higher followed by choppy price action throughout the day.
Because the market is not selling off like it did early Monday, this is showing that the …
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