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Market | adanac investment lab

Market Update

Reports of the outcomes of the FOMC meetings in May and June triggered rather violent sell-offs, although the markets regained much of their composure after a few down days. However, this has created a pattern of lower highs and lower lows, a bearish quality: Continue reading

S&P 500

Over the last three weeks, the market has pulled back in a choppy manner in response to the fears that the Fed could reduce quantitative easing as early as this month. However, despite the fears, the S&P 500 has still traded within its upward trending channel, with weak support just below Friday’s close, and stronger support at 1,600: Continue reading

S&P 500

After a surprisingly strong start to the week, fueled by very positive consumer confidence data, the S&P fizzled on continued worries of QE tapering. In fact, the high for the week was established in the first hour of trading, and the low for the week was recorded in the very last minute of trading. In isolation, this is a very bearish pattern: Continue reading

S&P 500

After a lightly bullish start to the week, the S&P 500 pulled back over the last three days, starting with a sharp intraday bearish reversal on Wednesday. Much like the last multi-day pullback in mid-April, there is a lot of chatter about the markets finally topping and it being time to exit bullish positions. However, the broader technical picture is much more bullish than it was a month ago: Continue reading

S&P 500

The S&P 500 continued to rally convincingly, despite disappointing economic data being released. We are in the midst of a strong bull market, and the safest trades to make are ones that agree with the overall trend. The $SPX is now clearly in the upper 50% of its channel, putting the index in a relative position we haven’t seen for about two months. Continue reading

S&P 500

After the strong bullish price movement on Friday, May 10, the S&P 500 continued its move up last week, maintaining the midpoint of its upward trending channel, which suggests increasing bullish bias: Continue reading

S&P 500

Just a quick update for Monday, as market conditions have not changed materially from Friday’s close: Continue reading

S&P 500

On Friday morning’s better than expected jobs report, the S&P 500 closed significantly higher than the previous day’s close, which as discussed on Thursday, was acting as resistance: Continue reading

S&P 500 Update

Again, the market relentlessly rose after a down day that had some speculating that a top had been put in. However, today’s close at 1,597.59 failed to conclusively establish a new top, almost exactly matching the high mark for each of the two previous days: Continue reading

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