Blog Posts - Stock Market Viewpoint



NASDAQ, QQQ & S&P100 Charts Are Bearing Down Heavily on the S&P500 Recent Breakout

Following up from my last post where I focused on how the S&P head and shoulders neckline was going to hold, we have seen a blistering short squeeze since then that took all the major indices up to their upper channel line of their slowly descend...
by Stock Market Viewpoint on Jun 11, 2016

S&P Holds the Neckline

We may have just seen a successful test of the S&P head and shoulders neckline.  Last Thursday the S&P slipped through the neckline but closed back slightly above it for a bullish hammer then on Friday the market squeezed with 500k SPY b...
by Stock Market Viewpoint on May 22, 2016

Nasdaq at Most Overbought Level in Two Years

In my April 6th article I wrote how the S&P 500 was grossly overextended and basically pressed against the ceiling on the Percent of S&P stocks above their 50 day moving average.  Tonight we are taking a look at the Nasdaq to see if it i...
by Stock Market Viewpoint on Apr 17, 2016

AAPL's Situation Worsens

Well, we learned Friday that AAPL is cutting back production of its iphone due to slowing demand.  I guess AAPL forgot to tell us that when investors were buying the channel breakout a couple of days ago.  Looking back, it almost appears th...
by Stock Market Viewpoint on Apr 16, 2016

Focusing on the SPY Top

The trading world is watching the SPY this morning as it is the last barrier of reason on the stock market.  Trade well my friendsAlan...
by Stock Market Viewpoint on Apr 15, 2016

XLF Up Against Double Resistance

The XLF financial ETF had a big day yesterday but finds itself up against the upper line of its six-month declining channel this morning.  At this juncture you can expect them to put lipstick on some really foul bank earnings.Trade well my frien...
by Stock Market Viewpoint on Apr 14, 2016

VXX Believes 3 Day Iron Grip Tractor Program to Force Channel Breakouts is About To End

While the tractor program that has been locked on the market for 3 days has been hugely successful in forcing the stock indices to break out of their restraining channels, the breakouts haven't gone very far and it begs the question of what happens n...
by Stock Market Viewpoint on Apr 14, 2016

Pro SPY Traders Agree with VXX Traders

While the iron grip tractor program has forced all the retail stock market indices (S&P, Nasdaq, Dow) out of their multiyear declining channels the past 3 days, pro traders are largely ignoring this as they go by their own chart, the SPY ETF.Toda...
by Stock Market Viewpoint on Apr 14, 2016

USO December Support Level Becomes Resistance

The USO continues yesterday's late afternoon reversal downward while this morning Saudi Arabia's oil minister Ali al-Naimi threw water on the hopes of oil producers taking action in regards to crude output at the Sunday meeting in Doha. He was asked...
by Stock Market Viewpoint on Apr 13, 2016

Midterm Channels Projecting Market Pullback

The S&P 500, Nasdaq, and USO have maxed out in their midterm channels as the VIX is basing at the 13.75 level which has projected stock market tops for the past four weeks.  The USO was stopped dead in its tracks after the Saudi Arabia oil m...
by Stock Market Viewpoint on Apr 13, 2016

Is Russian / Saudi Arabia Deal a Game Changer for Stocks or a Ruse?

The stock market ripped higher Tuesday as oil took off on a monster squeeze from the moment a Russian news agency reported that a Russian diplomat said that Russia and Saudi Arabia had reached a deal ahead of this week's OPEC meeting.  This news...
by Stock Market Viewpoint on Apr 12, 2016

S&P Establishing a Steep Declining Channel

The S&P 500 continues its topping process even though oil has been squeezed relentlessly the past few days.  Monday we had a two point confirmation of the S&P market top that is textbook.  First, the third lower high was printed in...
by Stock Market Viewpoint on Apr 11, 2016

AAPL Rejected by 200 Day Moving Average & 1 Year Declining Trendline

AAPL's bearish situation has worsened considerably recently as it tested its 200 day moving average and the upper line of its one year declining channel a week ago and was rejected by both simultaneously.  Since then AAPL has traded lower for fi...
by Stock Market Viewpoint on Apr 10, 2016

S&P Percent Above 50 Day MA Still at the Ceiling

There was a big squeeze in stocks Wednesday that was triggered by an even bigger squeeze in oil as the prop the market coalition seems to have abandoned their effort to decouple stocks from oil after some days without success and instead built a fire...
by Stock Market Viewpoint on Apr 6, 2016

Percent of S&P Stocks Above 50D MA Points to a Market Top

Another way to detect market tops besides the S&P GAAP PE Ratio is the percent of S&P 500 stocks above their 50 day moving average.  The upper chart below is a two year line chart on a weekly time frame showing percent of S&P stocks...
by Stock Market Viewpoint on Apr 4, 2016

Are the S&P 500 Stocks Cheap?

There are some permabulls out there this weekend pushing the idea that the S&P 500 is cheap at this juncture.  The following chart shows S&P's current PE using GAAP accounting (not Proforma, mickey mouse, etc).Every investor should decid...
by Stock Market Viewpoint on Apr 3, 2016

Indices Close Friday at Major Resistance

The S&P 500, Nasdaq, QQQ, and XLF all four were squeezed right up to major resistance Friday afternoon.  The S&P and QQQ are in virtually the same situation as they are both up against their one-year and two-year upper channel lines simu...
by Stock Market Viewpoint on Apr 2, 2016

S&P Longterm Bear Market Signal Still In Play

Back in my March 6th blog, I wrote about how the S&P 500 monthly bars chart with a 10 and 20 moving average is widely accepted as the universal indicator for longterm bull markets and longterm bear markets.  Since then the prop the market co...
by Stock Market Viewpoint on Apr 1, 2016

S&P Confirms Failed Backtest of 5 Week Short Squeeze Channel

The past two days the market has been watching the failed backtest of the S&P 500's five-week short squeeze channel.  Today's negative opening provides a third day of confirmation that the biggest Stock Market short squeeze in history is ove...
by Stock Market Viewpoint on Apr 1, 2016

USO Head & Shoulders Topping Pattern Nears Completion

Lately, every permabull out there has been promoting every possible reason that oil will keep climbing from here and take the stock market higher with it.  The reality is that the USO chart is projecting a different outcome because of the head a...
by Stock Market Viewpoint on Mar 31, 2016


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