It has been many years since I was introduced to technical analysis by a friend. I immediately realized its value and learned everything I could about it, starting with the Wykoff course and later on including cycles and point & figure charting which has been one of my most profitable undertakings. To this day I maintain by hand P&F charts of the SPX and other indexes. My studies have given me a special insight in stocks and the stock market. I started to publish Market Turning Points over ten years ago. My subscribers include individuals from all over the world and my weekly newsletter is published on several sites in the USA and abroad.
After several weeks of distribution at its recent high, the bottom dropped out and was followed by a 200-point decline in the SPX in about a week’s time. The decline found support at the bottom trend line of a bullish channel which started to form at the December 2018 low of 2346. That, and a … Continued
“It ain’t over till it’s over!” IT’S OVER! My view was that for the last couple of weeks, the market was just hanging around waiting for a catalyst to put an end to its suffering! Last week we got two! The first was when the Federal Reserve cut interest rates by a quarter-point at Wednesday’s … Continued
Lately, the market trend has been reduced to a grinding move to new highs – or is it really “the market”? Inspired by a new high in the Nasdaq 100, SPX made a new high this past week! But the Dow did not! And the NYSE composite – the broadest exchange of all – did … Continued
Current Position of the Market SPX: Long-term trend – Finallong-term phase on the way? How much longer, is the question. Intermediate trend – The continued strength has muddied the water and we may have to wait until August/September before the intermediate trend becomes more clear. Analysis of the short-term trend is done on a daily … Continued
Current Position of the Market SPX: Long-term trend – Finallong-term phase on the way? How much longer, is the question. Intermediate trend – The continued strength has muddied the water and we may have to wait until August/September before the intermediate trend becomes more clear. Analysis of the short-term trend is done on a daily … Continued