Short-Term (days/weeks) : likely modest weakness next week, then higher EEM was slightly higher last week, breaching resistance at summer 2023 price lows as Daily OB/OS momentum turned positive. At the end of the week, EEM turned down at resistance from the August high ; Daily OB/OS momentum was modestly overbought. EEM looks likely to retest February 2022 trend support next week, but the new DJIA/NYSE ITI analog model suggests renewed strength for key US equity indices from late October: see ch...
Short-Term (days/weeks): modest weakness next week, then higher The DJ Eurostoxx 50 was slightly higher last week, turning up at trend support from the September 2022 low as Daily OB/OS momentum turned positive. At the end of the week, the DJ Eurostoxx 50 turned down at summer 2023 lows and trend resistance from the August price high; Daily OB/OS momentum neutralized from modestly overbought. The 4223 DJ Eurostoxx 50 target was reached (38,2% retracement of the losses from the 2023 highs to last...
Short-Term (days/weeks) : modest weakness next week, then higher Key US equity indices were mostly slightly lower last week (S&P 500, Nasdaq Composite, Nasdaq 100), turning down at resistance from the August low (S&P 500) or trend resistance from the summer high (Nasdaq Composite and Nasdaq 100) as Daily OB/OS momentum turned down at modestly or moderately overbought. The DJIA was slightly higher, breaching resistance at the summer lows as Daily OB/OS turned positive. At the close on Friday, S&P...
Short-Term (days/weeks) : higher EEM was slightly lower last week, turning down at resistance from the summer price lows as Daily OB/OS momentum fell to modestly oversold. At the end of the week, EEM turned up at trend support from the 2022 low; Daily OB/OS momentum was turning up at modestly oversold. EEM looks higher short-term (days/weeks) along with other developed equity market indices; however, short-term price strength is likely to be countertrend since the intermediate trend (weeks/month...
Short-Term (days/weeks) : higher Key US equity indices (S&P 500, Nasdaq Composite, Nasdaq 100, DJIA) were all higher last week, as expected, turning up at 2022 trend supports as Daily OB/OS momentum turned up at oversold. The S&P 500 also turned up around the February high, the 38% Fibonacci retracement of the losses from the July 2022 high on a daily bar chart, the 50 and 200-day moving averages and in range of the 4280/4186 price targets. As of the close on Friday, S&P 500 and DJIA Daily OB/OS...
Short-Term (days/weeks) : likely modest weakness next week, then higher EEM was slightly higher last week, breaching resistance at summer 2023 price lows as Daily OB/OS momentum turned positive. At the end of the week, EEM turned down at resistance from the August high ; Daily OB/OS momentum was modestly overbought. EEM looks likely to retest February 2022 trend support next week, but the new DJIA/NYSE ITI analog model suggests renewed strength for key US equity indices from late October: see ch...
Short-Term (days/weeks) : a few days down, modest weakness Key US equity indices were all lower last week, mostly turning down at resistance at new short-term price highs as Daily OB/OS momentum indicators turned down at mostly moderately overbought new short-term highs; the Nasdaq 100 turned down with a negative divergence in Daily OB/OS. At the close on Friday, the S&P 500 and DJIA were both testing short-term support; the Nasdaq 100 and Nasdaq Composite were both still above next price suppor...
Short-Term (days/weeks): uptrend intact for the DJ Eurostoxx 50 The DJ Eurostoxx 50 was higher again last week, turning up at trend support from the December low as Daily OB/OS momentum continued to neutralize from overbought. At the close on Friday, DJ Eurostoxx 50 was testing trend resistance from the October 2022 high; Daily OB/OS momentum was still modestly overbought. No sell signal—the short-term uptrend (days/weeks) for the DJ Eurostoxx 50 is intact. See Daily OB/OS Charts, attached, page...