Friday 31 May 2024

Momentum strengthens

 



Summary 

The SPX saw a May gain of +241pts (4.8%) to 5277, having printed a new hist' high of 5341. The monthly settlement was above the key 10MA (4783), as the m/t trend remains bullish. Momentum ticked back upward, settling on the high side.

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Tuesday 30 April 2024

Provisional rollover


 


Summary 

The SPX saw the first net monthly decline since last October, net lower for April by -218pts (4.2%) to 5035. The monthly settlement was above the key 10MA (4714), as the m/t trend remains bullish.

Momentum ticked back lower, if still settling on the high side. S/t bearish into May. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be around 4800 as of May 1st.

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Friday 29 March 2024

A fifth month higher

 


 


Summary 

The SPX climbed for a fifth consecutive month, net higher for March by +158pts (3.1%) to 5254, having printed a new historic high of 5264. The monthly settlement was above the key 10MA (4656), as the m/t trend remains bullish.

Momentum ticked upward for a fifth month, settling on the high side. S/t bullish into April. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be in the 4700s in April.

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