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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Thursday 29 February 2024

Mr Market remains strong



 


 Summary 

The SPX climbed for a fourth consecutive month, net higher for February by +250pts (5.2%) to 5096, having printed a new historic high of 5111. The monthly settlement was above the key 10MA (4548), as the m/t trend is unquestionably bullish.

Momentum ticked upward for a fourth month, settling on the high side. S/t bullish into March. 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 4600s in March.

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Thursday 1 February 2024

2024 begins positive

 


 


Summary 

The SPX saw a net January gain of +75pts (1.6%) to 4845, having printed a new historic high of 4931. The monthly settlement was above the key 10MA (4456), as the m/t trend is unquestionably bullish.

Momentum ticked upward for a third month, settling on the moderately high side. S/t bullish into February. 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 low 4500s in February.

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