An undercut of a prior important low when a market is extended to the downside often turns into a short term reversal; there is no sign of that yet $IWM drops below 2022 low and ⚓️VWAP from 2016 low pic.twitter.com/3wS61XaZnm — Brian Shannon, CMT (@alphatrends) October 27, 2023 Today’s Chart of the Day was shared […]
Daily Chart Report 📈 Thursday, October 26, 2023
Powered By: Today’s Summary Thursday, October 26, 2023 Indices: Russell 2000 +0.34% | Dow -0.76% | S&P 500 -1.18% | Nasdaq -1.89% Sectors: 3 of the 11 sectors closed higher. Real Estate led, gaining +2.11%. Communications lagged, dropping -2.18%. Commodities: Crude Oil futures dropped -2.55% to $83.21 per barrel. Gold futures rose +0.13% to $1,997 per oz. Currencies: The US Dollar Index inched higher by +0.07% to $106.62. Crypto: Bitcoin snapped a seven-day […]
Chart of the Day – Thursday, October 26, 2023
AAII bears highest since early May. Not overly surprising given the weakness. Be aware it is late Oct historically when things tend to turn around. Looking at previous years up >10% at the end of June shows indigestion the past few months is normal. But things turn here. pic.twitter.com/xg3YTJYf4F — Ryan Detrick, CMT (@RyanDetrick) October […]
Daily Chart Report 📈 Wednesday, October 25, 2023
Powered By: Today’s Summary Wednesday, October 25, 2023 Indices: Dow -0.32% | S&P 500 -1.43% | Russell 2000 -1.67% | Nasdaq -2.47% Sectors: 2 of the 11 sectors closed higher. Utilities led, gaining +0.56%. Communications lagged by a wide margin, dropping -4.33%. Commodities: Crude Oil futures rose +1.97% to $85.39 per barrel. Gold futures rose +0.44% to $1,995 per oz. Currencies: The US Dollar Index rose +0.28% to $106.54. Crypto: Bitcoin rose for the seventh day, […]
Chart of the Day – Wednesday, October 25, 2023
The last remaining “Lines in the Sand?” QQQ and SMH. If they break below 200-day MA and market does not bounce off of deeply oversold = BAD (IMO). pic.twitter.com/Ousigs7rrn — Jay Kaeppel (@jaykaeppel) October 25, 2023 Today’s Chart of the Day was shared by Jay Kaeppel (@jaykaeppel). The sell-off intensified today, with the S&P 500 […]
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