Saturday, 30 April 2022

A severely bearish April



Summary 

The SPX saw a net April decline of -398pts (8.8%) to 4131. This was a decisive bearish monthly settlement back under the 10MA (4471). Momentum was increasingly negative, and should continue to weaken across the spring and into the summer. 

Primary target is the lower monthly bollinger, currently at 3308, but that will probably have risen to the 3500s within June. 

Thursday, 31 March 2022

March settles negative



 

Summary 

The SPX saw a net March gain of +156pts (3.6%) to 4530. Whilst this was a bullish monthly settlement back above the 10MA, momentum still weakened, settling fractionally negative. In theory, momentum should continue to weaken across the spring and into the summer.

Tuesday, 1 March 2022

Sustainably negative

 


 

Summary

Suffice to note, monthly equity momentum in the SPX has turned back to negative, and should remain sustainably so into April.