WEEKLY MARKET SUMMARY 

After the scary leg to the downside started at the middle of August (including the early September dead cat bounce), we finally got a bright green week in SPY (S&P500 ETF). Monday's hammer above support has been followed by a gap up at the open on Tuesday and...

WEEKLY MARKET SUMMARY 

Trying to make sense of a market like this (especially after what happened on Thursday and Friday) is becoming an exhausting and even pointless exercise. What I like to do after another crazy week of a crazy year is zoom out to longer time frame charts like the...

WEEKLY MARKET SUMMARY 

After the SPY (S&P500 ETF) lost key support at the 360 level on the last trading day of Q3 2022, the first week of October began with a strong green candle on Monday, followed by an impressive gap up at the open on Tuesday with overwhelming buying pressure across...

WEEKLY MARKET SUMMARY 

This is what I wrote in the September 25th Weekly Report:

"With the SPY (S&P500 ETF) gapping down at the open on Friday and pulling to the 2022 lows, we are not far from testing the major support level around the 360 mark, which, if broken,...

WEEKLY MARKET SUMMARY 

With the SPY (S&P500 ETF) gapping down at the open on Friday and pulling to the 2022 lows, we are not far from testing the major support level around the 360 mark, which, if broken, could spark a new wave of panic selling towards the pre-pandemic highs...

WEEKLY MARKET SUMMARY 

After the gap up at the weekly opening on Monday and the fourth solid daily green candle in a row, the expected pullback of SPY (S&P500 ETF) came on Tuesday with a deep gap down at the open (eating up all the gains from the day before) and panic selling that...

WEEKLY MARKET SUMMARY 

Following three weeks of relentless selling pressure, the SPY (S&P500 ETF) began the past 4-day trading week on Tuesday with a short, indecisive red candle just above the key 390 support level. A strong bullish engulfing candle launched a rally on Wednesday...

WEEKLY MARKET SUMMARY 

It can be difficult to get a broad perspective of what's going on when immersed in the day-to-day market noise. Zooming out and using weekly charts can assist in gaining a longer term perspective and seeing things at a higher level.

Following a new gap down on Monday...

WEEKLY MARKET SUMMARY 

This is what I wrote in the last Weekly Report: "Going into the next trading week, we might expect further weakness and a test of the first level of support at the 417 level. If that doesn't hold, the key level to watch then would be at the 400 mark."

And that is...

WEEKLY MARKET SUMMARY 

Finally, after over a month of continuous buying pressure, the market gave back some of the recent gains. However, that really happened only on Friday, following four consecutive green daily candles, when SPY (S&P500 ETF) opened with a big gap down and posted...