Trend following The Nasdaq 100 Index this week, looking at the weeklies (lookback), it is breaking below the weekly Upward breakout (gap up) from back in March.
stock chart of the Nasdaq 100 Index
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
The long term Bullish Trend stopped on May 8th. The price dropped under the 200 day ma of 10% annualized growth rate.
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.
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.
For the new readers, this is about pure trend following. No predictions, no forecasts.
transportation stocks trending up
Trend following the Dow Transports (DJT) – looking at Weekly S/R (Support and Resistance Price Levels) it’s working on another Bullish signal this week.
Trend following – No predictions, no forecasts.
The Nasdaq 100 continues Bullish
The Nasdaq 100 Index (NDX) another Weekly Bullish, so far this week. “Bullish” as in trend signal.
Long term, the index is tacking along at, or in excess of, 20 % annualized rate of growth (as of today).
Notes: for the new readers to this Blog. This is pure long term trend following. We use price action only, to tell us what the trend direction is. We use no stock or economics fundamentals.
The Upward stock market trend continues ..
Trend following The S&P 500 Index (SPX), in a long term Upward trend, closed over the High last week, and, over the High last month.
The Long Term Trend is measured over 200 days, at or exceeding a 10% annualized growth rate. Apparently The Interest Rate Yield Curve, is either being mis-reported, or certainly is a non factor, or both.
The S&P 500 Index Weekly Chart, 18 Weeks, Weekly: