S&P 500 Index–trend following update

continuing the downward trend

As noted in a previous post, the $2,800 area is a major S/R (Support and resistance price reversal level). Today, intraday, looking at the weekly lookbacks, the Index has ‘elected’ this bearish reversal.

S&P 500 Index stock chart

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The long term Bullish Trend stopped on May 8th. The price dropped under the 200 day ma of 10% annualized growth rate.

S&P 500 Index–looking at a Major Bearish Reversal

the market sell off continues

Trend following, no predictions, no forecasts, The S&P 500 Index (SPX), trading at $2,809, is approaching today a major Price Reversal today. Looking at the Weeklies, there is a major Bearish Price Reversal at $2,801, as shown on the stock chart. The Index traded under a 10% annualized rate of growth over 200 days ma, on May 7th.

So, we’ll see how the week closes.

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S&P 500 Index–range bound

The stock market going sideways

Trading at $2,872 today, we can see here very clearly The S&P 500 Index is range bound between S/R (Support and Resistance Price Levels) of $2,892 above, and $2,800 below. So nothing really is happening until it elects one of those price reversals.

stock chart of The S&P 500 Index  at $2,892

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Consumer Staples Select Sector Index

Trend following the Consumer Staples Select Sector Index $IXR $XLP $NEED  .. another in a series of routine Weekly Breakouts. The Index is trading at or in excess of a 15% annualized growth rate over a 200 day ma.

stock chart of the Consumer Staples Select Sector Index

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The Nasdaq 100 Index regains momentum

Trend following The Nasdaq 100 Index, after the close today, has reestablished it’s momentum at or exceeding a 10% annualized rate of growth, over a 200 day ma.

This is trend following, – no forecasts, no predictions, no personal opinions.

Nasdaq 100 Index

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