Category Archives: U.S. Indexes

S&P 500 closes above the 200-day moving average

I have identified the resistance zone of 2080 to 2100. Volume is ok and the momentum indicators are confirming the near-term uptrend. S&P 500 is trading above the 200-day moving average.

S&P 500 6-Month Daily Chart showing break above the 200-day simple moving average.

S&P 500 6-Month Daily Chart

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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West Texas Intermediate daily chart – 35 is major support

The near-term uptrend for WTI failed at 39 so this is the current reference point for the resistance level. WTI dropped 1.74% today to close at 36.72. The 36 level is a tentative support level that would trigger sell orders if crude breaks below this point. But, the major support level is 35. A Break below 35 would trigger heavy selling and a test of the February lows would come into play.

West Texas Intermediate 5-Month Daily Chart showing major support at 35

West Texas Intermediate 5-Month Daily Chart

Reference my chart analysis for WTI on March 2, 2016 when 35 was major resistance for the near-term uptrend. Because of the reversal of roles, 35 is now major support.

https://en.wikipedia.org/wiki/West_Texas_Intermediate

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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YTD: Utilities is the leading sector in the S&P 500

S&P 500 Sector Performance

S&P 500 Sector Performance

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“If you dither, you lose”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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S&P 500 near-term uptrend fails at 2000 resistance zone

Trouble at 2000 and still below the 200-day simple moving average

Chart showing the failure of the S&P 500 at 2000

S&P 500 6-Month Chart

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“If you dither, you lose”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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US sector performance for the past week

Risk on sectors are the largest gainers

US Sector Performance for the Past Week

Click for a live chart and the ability to drill down into each sector for the the top performers.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Russell 2000 closes above the resistance zone of 1040-1050

This 6-month daily chart shows the close above the resistance level of 1040. The near-term trend is up but the major and intermediate trends are both down
Russell 2000 6-Month Daily Chart showing the breakout above resistance.

Russell 2000 6-Month Daily Chart

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The following 3-year weekly chart for the Russell 2000 shows the same breakout above 1040. But, the important point on the chart is the close above major resistance of 1050
Russell 2000 3-Year Weekly Chart showing the breakout above resistance.

Russell 2000 3-Year Weekly Chart

Reference my post for the Russell 2000 published on January 12, 2016 identifying the fact that the index was in bear market territory.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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S&P 500 moves above the 50-day sma and 1950 resistance

Tall shaven head and shaven bottom candlestick is a graphical representation of the powerful 2.39% upswing today. Need to look for follow through on Wednesday
S&P 500 Daily Candlestick Chart showing the move above the 50 day simple moving average.

S&P 500 Daily Candlestick Chart

Some points from the above daily chart of the S&P 500:

  • A strong move back above the 50-day sma.
  • Closed above resistance of 1950.
  • I posted a chart for the break below the 50-day on Monday.
  • What a difference a day makes!
  • The shaven head and shaven bottom candlestick is a graphical representation of the move.
  • Shaven head represents a close at the high of the day.
  • Shaven bottom represents the open as the low of the day.
  • In other words, no dithering.
  • The market opened at the low and closed at the high
  • Bodes well for a follow through on Wednesday.
  • The volume is the fuel that drives the market. Must have volume in an uptrend. Volume was ok today.
  • If the break holds, the next resistance point is 2000.
  • A break above 2000 indicates a test of the 200-day sma.
  • And, …………

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Risk on sectors dominated the action today

S&P 500 Sectors

S&P 500 Sectors

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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