Afternoon Update – Nasdaq & SPX Test
As I mentioned this morning, the Nasdaq-100 was finding technical resistance at its 50-day, but there was a level of...
TLT Update and Long Position
Several people in the Technical Take Discord room have been eying TLT for a while. I’ve suggested patience and let...
Early Update – NDX @ Technical Resistance; Gold Makes New Record High
12:13 p.m. ET Conviction today is waning from yesterday as the Nasdaq-100 hits technical resistance at its 50-day SMA and...
Afternoon Update
The Tech sector is pretty much single-handedly carrying the market this afternoon. With that understanding the NDX looks like a...
Decent Bounce So Far Led By the Technology Sector – Strange Day.
2:54 .m. ET The averages got off to a very ugly start with selling that didn’t seem to have a...
Weak Start @ The Cash Open – Bear Flags Break
11:26 a.m. ET It’s a very ugly start for stocks. SPX (5m) breaking the bear flag and heading to test...
Afternoon Update
NVIDIA (NVDA +1.4%) and Meta Platforms (META +0.1%) had been trading down when the S&P 500 and Nasdaq were at...
Slow Session Fleshes Out Consolidations – Value Stocks Weaker, Growth Fears Manifesting
1:08 p.m. ET Now that were past the initial, “Everything up, and everything up about the same” phase that immediately...
Market Update – Oversold Bounce Dynamics and Consolidations in Tech
Today has a very typical 1-day oversold feel to it. The only average that had a somewhat defined bearish consolidation...
A.M. Update
S&P 500 futures are up 0.65% after last week’s rout. Price action in futures looks like a bear flag, but...
Consolidation
3:10 p.m. ET As I suspected, the market is going into consolidation around NDX’s mid-point of its measured move. This ...
Market Update – Consolidation Time
1:08 p.m. ET First, the market saw a little pump and dump at 11 a.m. ET. The pump was in...
Early Update – The Result of The Bare Minimum – Tech Getting Hit Hard
:08 a.m. ET 50-basis point rate hike odds have come down from 50 basis points at 57% after Payrolls to...
Afternoon Update
Well, if I had to guess what the market is thinking ahead of Payrolls, I’d say that it’s not all...
Market Update – A Lot of Economic Data, But Little Effect On the Economic Outlook
1:02 p.m. ET The market has been dynamic this morning with mega caps and semis initially supporting the market, and...
Afternoon Update
Running through 3C charts I didn’t see anything too unexpected. Yesterday I mentioned that it looked like technical buyers showed...
Market Update – Consolidating As Expected At Technical Levels
2:24 p.m. ET I apologize for missing the early posts. Investor’s growth fears aren’t being helped much with today’s data....
SOX Testing 200-Day
Here we are, right down to the wire. Since the last update the Philly Semiconductor Index (SOX -8%), which is...
Semis May Be Trying to Find Support Near SOX’s 200-Day SMA
2:55 p.m. ET There are some early signs of some “dip” buyers, if a 1-day -7.5% decline qualifies as a...
Tech Breaking SPX’s Range Support
2:15 p.m. ET SPX (10m) – Since capturing this chart, the SPX is already trading below $5450. Here’s the same...