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.


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


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


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