Let’s look at the price positions of the US Dollar Index and the Dow Jones Index to gather clues about possible moves next week:
First, the Dollar:

The Dollar Index rallied (strengthened) last week, after forming a tight coil and has broken above its key 20 period moving average. Price is finding preliminary resistance at the […]

Let’s take a quick ‘fly-by’ of the major US Stock Market Indexes for clues about what may happen next week:

Some observations about the daily chart of the S&P 500:
Price is testing upside resistance via horizontal line.
The 20 and 50 period moving averages completed a bullish cross (green arrow).
There is semi-strong support via an upside trendline […]

In the previous post, I specifically mentioned the Technology sectors as being one of the worst performers year-to-date, and the Industrial sector as being one of the best. Let’s take a look at those in a little more detail to see if we can gather a few clues:

The Technology Sector, supported by similar patterns […]

Let’s take a quick look at what the sector analysis is saying.

First, let’s look at year-to-day (76 days) returns for the nine major SPRD sectors according to StockCharts.com:

The Materials (up 6.5%) and Energy (up 5.6%) sectors have outperformed all others, while the Health Care (down 10%) and Technology (down 10.5%).

While the Sector Rotation Model would […]

Let’s take a quick peek at the US Dow Jones Index and what may be in store for next week:

The market has broken beneath key support coming from the flattening of the 20 and 50 period moving average, as well as the bottom trendline of an ascending triangle pattern.

The market is in an overall consolidation […]

Citigroup (C) is showing initial strength on the daily chart and may be ready to try for a reversal.

Price is struggling to break above the 50 period moving average, which has served in the past as key resistance. Price remains in a strongly confirmed downtrend, but a recent increase in momentum may be a […]

Before we start the upcoming trading week, let’s look at the S&P 500 Index from a brief technical perspective.

A few quick observations:

There is a positive momentum divergence forming

The 1,260 – 1,270 price zone has provided solid support

The 1,400 zone has provided solid resistance

Volume increased on the recent downswing and decreased on the counter-rally up

Volume […]