This is the 10th week the S&P 500 weekly RSI has been above 70. Takeaways:1. "overbought" doesn't mean it can't stay that way for an extended period of time.2. Since 1970, the market has been "overbought" twice as long in two prior instances. $SPX $SPY pic.twitter.com/MLwJkt0NX0 — Andrew Thrasher, CMT (@AndrewThrasher) March 27, 2024 🏆 […]
Chart of the Day – Thursday, March 21, 2024
$SPX now approaching the 6th strongest 21-week move in its history, up ~28% in that time period… pic.twitter.com/0a0T6udCmg — Ian McMillan, CMT (@the_chart_life) March 21, 2024 🏆 Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). The S&P 500 ($SPX) closed at a record high for the third day in a row, and […]
Chart of the Day – Wednesday, March 20, 2024
The equal-weight S&P 500 $RSP just had the highest daily close of all-time, gaining +0.84% today. Looks like a classic "breakout, retest, rebound" setup on the former ATH's. pic.twitter.com/HviHpPq0Dl — Caleb Franzen (@CalebFranzen) March 20, 2024 🏆 Today’s Chart of the Day was shared by Caleb Franzen (@CalebFranzen). The S&P 500 closed at a record […]
Chart of the Day – Friday, March 15, 2024
$SPY couple of doji weeklies pic.twitter.com/aoIlA7GBSc — Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) March 15, 2024 🏆 Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). The S&P 500 logged its first back-to-back weekly loss since October, but both weeks have been virtually flat (-0.26% and -0.13%), leaving the index just -0.39% below […]
Chart of the Day – Monday, March 11, 2024
The $SPX closed down today, but the % of stocks above their 200-day moving average closed at the highest level since September 2021. pic.twitter.com/3UOmgZhijd — Brian Bond, CMT (@BrianBond) March 11, 2024 🏆 Today’s Chart of the Day was shared by Brian Bond (@BrianBond). The S&P 500 was virtually unchanged today (-0.11%), but Brian points […]
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