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The S&P 500 index continues its consolidation pattern since hitting the 1,100 level back in mid October 2009.  We believe that in the absence of any major news, the consolidation pattern is likely to continue going into the end of the year. Technical analysis of the S&P 500 index shows that the chart is working its way into a triangle, with the 50 day exponential moving average providi...

Every week we present an analysis of the previous week's market action as depicted by SPY (the index tracking ETF for the Standard and Poor's 500 index) and our outlook for the coming week. In the past holiday-shortened week, news of debt concerns in Dubai led to painful sell-offs in many stock markets in the US, Europe and Asia. SPY printed a new yearly high on Wed (25 Nov) but closed shar...

It was a clear win for the bulls over the past week as the market rocketed more than 3% after a shaky start on Monday. But was it really a win for the bulls? In this weekly update on the S&P 500 index (as depicted by SPY), we will examine the technical action that took place in the previous week and discuss the possible trade setups going forward. As shown in the daily chart above, SPY ...

Hello guys, what a week it has been! It was a pretty bearish week, with the S&P 500 breaking a few supports along the way. Is it time to sell yet? Let's take a closer look! [caption id="attachment_1344" align="aligncenter" width="600" caption="ETF Market Trends: S&P 500"][/caption] The S&P 500 has been whipping around the 50-MA for the last couple of days. This 50-MA has been a s...

This coming trading week will be an interesting one for the S&P 500. But before we go any further, let us take a technical look at what had taken place since last week. Although the week ended with a minor loss of about 0.7%, it was one heck of a volatile ride for most investors and traders. The week started off with minor gains for SPY on Monday but it was quickly erased during Tuesday and We...

Hi everyone, here's the weekly technical outlook on the S&P 500. Over the past week, the index managed to break and stay above last week's high of 1,080. It has, however shown some weakness as it approached the next resistance level of 1,100. This level was a critical support/resistance level back during March to October 2004. [caption id="attachment_1309" align="aligncenter" width="600" ca...

Here's our weekly technical take on the broad market action as depicted by SPY ( the ETF for the S&P 500 index). Over the past week, SPY had bounced off the 50-day SMA in a textbook-like fashion and had moved up more than 4% ever since. While it is not surprising to see the bounce off the 50-day SMA, it is quite a wonder to witness another dramatic climb back to the previous highs at the 108 l...

It was a case of a failed bounce in the major indices last week. In our previous weekly update on the S&P 500 index (as represented by SPY), we highlighted a possible bounce at the 50 day SMA (around 104 level). SPY bounced on the following Monday to close near to 106 but subsequently gave back all the gains and more in the next few days. The subsequent decline was decisive  and supported by ...

Every Monday, we will be posting an S&P 500 technical analysis update. Using SPY, the ETF proxy for the index, we will identify important technical patterns and key price levels for traders and investors. In the previous week, the SPY tanked approximately 2% on increased volume. As we hardly have any broad-based decline of this magnitude in recent days, it certainly got traders and investo...