S&P 500 Index breaking levels

Trend following The S&P 500 Index today, trading at $2,811 at the moment, is trading under last month’s low of $2,848 and under last week’s low of $2,825, but above a major Price Reversal of $2,799 on the Weekly as shown on the stock chart below. If it rejects this level, and then closes higher on the Weekly, that will be a long term Bullish…aka BTD, or “Buy The Dip”.

S&P 500 Index Weekly

image

S&P 500 Index trend following a gap breakout

Trend following the S&P 500 Index this morning. It  is challenging that gap Up Breakout back on April 1st (red circle on the chart). That was the market valuation then at  $2,845, todays valuation is $2,845. And obviously the market bought that as undervalued.

So we’ll see what the market values today and this week. The all time highs, 52 week highs, the new highs, are all pretty much irrelevant at this point. Those Highs have been rejected, or, not elected. Can the market get back up there? ..of course.

image

For the new readers, this is about pure trend following. No predictions, no forecasts.

The Dow 30 Index moving into long term Downward status

trading well under Reversals

Trend following the Dow Jones Industrials Index $DJI today. Looking at the Weekly Reversal (multiple 5% reversals), it is trading well under a major S/R (Support and Resistance Price Level) of $26,184.00. And The Index today is about to cross under 0% annualized growth rate over the past 200 day ma. There are a bunch of RSI “Sells” going back 2 weeks, way in advance of today’s tweet.

Dow Jones 30 Index $DJI Weekly lookbacks Reversal chart:

image

S&P 500 Index – end of week

..the Bull trend continues ..

Trend following The S&P 500 Index $SPX end of week,.. another Upward week over week.

The Index remains in a strong Upward trend, at or exceeding, over a 200 day ma, 15% annualized growth rate.

The Weekly chart:

image

The 15% annualized growth rate chart:

image

Consumer Staples Select Sector Index

Market trend continues upward

Trend following today The Consumer Staples Sector $IXR $XLP which  trades upward to a new 52 week  high, as The Nasdaq 100 Index $NDX pulls back.

Capital continues to pour into the US, and rotates, notwithstanding the professional doom and gloom crowd. One of the doom indicators they use, and recycle, is volume. They have been saying that since 2008.

image

S&P 500 Index – Weekly, End of week

The S&P 500 Index this week,  closed at $2,939.88.  which is a close over last week’s High, of $2,918, and over last Month’s High which was $2,860. So this is another in a continuing series of Bullish trend following signals, whether they be Daily, Weekly, Monthly.  As of today the Index is trending at or in excess of a 15% annualized rate of growth over a 200 day ma look back. The Index has yet to close over the all time intraday High of $2,940. 91.

This chart is the S&P 500 Index Weeklies:

image

Gold Miners Index – selling continues

The gold miner stock sell off continues

The Gold Miners Index (GDM) (GDX) continues to break S/R (Support and Resistance Price levels) on a Weekly and Monthly Basis. The next Price Reversal below is at $568.10, trading at $581 today. The short term oscillators such as The RSI are oversold. So, we’ll if a BTD (Buy the dip) develops.

image