Tag: #SPX

This week, the S&P 500 had a gain of 1.6%. The index rallied on Tuesday after testing a trend line on the daily chart (orange). On Wednesday, the index broke out of the slightly downward-pointing trend channel (gray), retested it, and had another good rally which continued into Friday, ending the week strong. This week’s…

This week, the S&P 500 had no gain and finished the week where it started, with a lot of ups and downs, rallies on Tuesday and Thursday, and a sharp drop-off on Friday. On a one-hour chart, it is interesting to notice the retest that occurred on Thursday followed by strong move up. Two converging…

This week, the S&P 500 had a gain of 0.7%. The index rallied on Monday and Tuesday, but experienced moderate losses on Thursday. Last week, we wrote about an uptrend that had been established since the start of June (green on the chart). This uptrend channel was broken on Friday, indicating growing weakness in the…