There will be no comments this evening, but please refer to our regular charts and tables for further market analysis and reference.
- Trends: ST = short-term; MT = Intermediate-term; LT = long-term
The SP-500 bullish reversal rally remains intact. However, while momentum is positive, it is showing some signs of deceleration. Friday’s trading session may be attributed to profit taking as short-term oriented traders and robot programs elected to close positions before the weekend. There is still the overhanging resistance at the bottom channel of the previous upward channel that needs to be surmounted to sustain this run. There is a high probability we will see a confrontation between bulls and bears next week at this area and whichever side prevails will likely dominate the market direction for the remainder of the year.
Best wishes for a safe and enjoyable weekend from Hillbent…
|Daily Chart Technical Analysis|
|New 5-day highs||297||New 5-day lows||21|
|New 52-week highs||40||New 52-week lows||30|
|Bullish reversals||24||Bearish reversals||81|
|% > 20 M.A.||% > 50 M.A.||% > 100 M.A.||% > 200 M.A.|
|↑ = positive momentum; ↓ = negative momentum; and ↔ = neutral momentum|
Volume Radar Alerts
- Vol % = volume percentage greater than average volume
- SIR = short interest ratio or days to cover
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