TOPPY HIGH By The S&P 500

The S&P 500 made a new all time closing high last week, but it was the only major market index that closed at new closing high. Does that mean the S&P 500 has topped? In this S&P 500 technical analysis, we will analyze the S&P 500, review the stock market sentiments and its internals to determine where the sp500 is heading.

How Long Can Tesla Keep Going Up? (TSLA & NIO) - Feb 19, 2020

The stock market closed at another all time high. Another analyst raised the price target for Tesla stock. How long can Tesla and the stock market keep going up? We'll take a look at the stock market and Tesla stock along with NIO stock in this video.

Stock Market Dead Cat Bounce or Short Squeeze? - 3/4/2018

The stock market had a nice bounce off the opening low after 3 consecutive down days. It rallied into the close during the last 30 minutes as OpEx approaches. Was this rally a short squeeze or simply a dead cat bounce from the recent selloff?

In this stock market update, we will review the stock market indexes, and analyze the #FAANG stocks for trade setup using technical analysis. In addition, we will also look at the price action from NVDA, BABA & TSLA.

Click here to view the video.

Caution!

The market has been holding on to a negative divergence in the last couple trading sessions. Today, the market sent a non-confirmed recovery high with negative breadth message to warn of potential change in direction. Until this divergence has dissipated, be very cautious on overly extended toward the long side. If this negative divergence does not get resolved soon, be prepared for a possible extended downward move. Last time the market sent out this similar message was on May 19, 2015, and the Dow Jones Industrial did not see a higher high since and only on February 11, 2016 when the Dow Jones Industrial put in a non-confirmed low to start this recent rally. Will today’s message result in a similar outcome as the May 19, 2015? We just have to wait and see.

Just a reminder, tomorrow the FOMC will announce its latest decision on interest rate, and Chairwoman Yellen will hold a press conference after the FOMC meeting. Beware of potential increase in volatility!

Waiting For Confirmation

Finally, the long awaited test of the August low has arrived. The SPX went below August 24, 2015 low when it dipped down to 1857.83. The DJI held above the August 24, 2015 low, but it did come down to test the September 29, 2015 low of 15,942.37. The NDX didn’t drop down to test its September 29 low of 4053.12, it didn’t even test that day’s close. The RUT continues its downward trajectory and put in another new low from its high.

Broken Down?

In my last post, "Shaky Start", I stated there is a positive breadth divergence and that a rally could soon appear. Although the market continues to drop last Thursday and Friday, the positive divergence still has not dissipated but is getting close to be back in sync. As a good student of the market, I will wait until the divergence has disappeared to give up on the expectation of a dead cat rally. And if we look at the latest price action, things have not broken down as the market lead us to believe, at least not yet!

2015 Market Recap

2015 has been one of the most difficult year for many traders, myself included. Before we start trading in 2016, let's take a look at how the market had performed in 2015.

Here's How They Look

Although there is still one more trading session left in 2015, here is how the market indices look as of the last trading session in 2015.

The Big Channel

Here are the weekly charts of the indices showing price still trending within a multi-years price channel and holding above the support trendline.

Market Recap & Stock Update - 10/21/2015

A recap of today's price action and an update for these stocks: AAPL, FB, AMZN, NFLX, GOOGL, TWTR, TSLA, FIT, GPRO.

Market Recap & Stock Update - 10/20/2015

A review of the market and the following stocks: AAPL, FB, AMZN, NFLX, GOOGL, TWTR, TSLA, IBB, FIT & GPRO.

Market Recap & Stock Update - 10/19/2015

A recap of today's market price action and an update on the following stocks: AAPL, FB, AMZN, NFLX, GOOGL, TWTR, TSLA, IBB, MS, JPM, BAC, C, GS.

The Significance Of September 28, 2015

What is the significance about September 28, 2015? I’m sure it has significance to many people in many different ways, but to the market, it could be the day when it made a corrective bottom for the recent corrective phase.

Weekend Market Recap & Stock Update - 10/11/2015

A review of the market and some stocks, and some potential price levels to watch for the coming week.

Market Recap & Stock Update - 10/8/2015

A recap of today's market action and an update on AAPL, FB, AMZN, NFLX, GOOGL, TWTR, TSLA, IBB, MS, JPM, BAC, C.

Market Recap & Stock Update - 9/30/2015

In this video, we will review the market and the following momo stocks: AAPL, FB, AMZN, NFLX, GOOGL, TWTR, TSLA and ETFs; TLT, UUP, IBB.

Weekly Market & Stocks Update - 7/26/15

This week, the market pulled back from its recent high and tested some of the support levels we have been watching. It has been down for four consecutive days and the market could get a dead cat bounce within the next couple trading session.

TWTR and FB are scheduled to report earnings next week on Tuesday and Wednesday respectively, and they might provide the catalyst for a dead cat bounce.

Market & Earnings - 7/19/2015

The market continues to push higher. The tech oriented Nasdaq 100 is getting a bit euphoric and parabolic. Earnings from AAPL and AMZN are scheduled for this week with FB on tap to report next week. In this video, we will look at the market and these stocks: AAPL, GPRO, AMZN. In addition, I have also included the chart on DIS, FB, NFLX and GOOGL that I have posted earlier on my twitter stream in this blog posting.

Suspicious Record High

Today the DJIA closed with another all time closing high at 18,312.39, a gain of 13.51 or +0.07%. Although nearly 2/3 of the stocks in the DJIA index closed higher, but this record close is suspicious.

Market Review - 5/17/2015

The SP500 and the New York Stock Exchange Composite index closed at a new all time closing high. The Dow Jones Industrial is near its all time closing high.