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): higher The DJ Eurostoxx 50 was lower last week, breaching support at the summer 2023 price lows as Daily OB/OS momentum fell. At the end of the week, the DJ Eurostoxx 50 was turning up at trend support from the September 2022 low; Daily OB/OS momentum was turning up at the moderately oversold levels seen at the summer lows. Price turning up at support as Daily OB/OS momentum turns up in oversold territory suggests short-term price strength for the DJ Eurostoxx 50. Also, ...
Short-Term (days/weeks) : higher Key US equity indices were all lower again last week as Daily OB/OS momentum turned up at oversold (S&P 500, Nasdaq Composite, Nasdaq 100) or stalled at modestly oversold (DJIA). As of the close on Friday, the S&P 500 was testing trend support from the March 2023 low; Daily OB/OS for the S&P 500 was turning up at the oversold level seen at the December 2022 low. The Nasdaq Composite and Nasdaq 100 both turned up at support from the December 2022 low and are now t...
Short-Term (days/weeks) : higher (was neutral) EEM fell again last week, breaching April/May price support as Daily OB/OS momentum turned negative. At the end of the week, EEM was turning up at trend support from the October 2022 low; Daily OB/OS momentum was stalling at modestly oversold. The Number of NYSE Stocks with Weekly Money Flow Turning Positive suggests a short-term low for the key US equity market next week (see US Weekly Charts, page 4). Accompanied by EEM strength from longer-term t...
Short-Term (days/weeks) : higher Key US equity indices were all lower again last week as Daily OB/OS momentum turned up at oversold (S&P 500, Nasdaq Composite, Nasdaq 100) or stalled at modestly oversold (DJIA). As of the close on Friday, the S&P 500 was testing trend support from the March 2023 low; Daily OB/OS for the S&P 500 was turning up at the oversold level seen at the December 2022 low. The Nasdaq Composite and Nasdaq 100 both turned up at support from the December 2022 low and are now t...
Short-Term (days/weeks) : EEM still struggling, now neutral (was positive) EEM fell last week, turning down at trend resistance from the 2023 high as Daily OB/OS momentum turned down at modestly overbought. At the end of the week, EEM had breached spring/summer 2023 price lows and was testing trend support from the October 2022 low; Daily OB/OS momentum was neutral. EEM price at support and Daily OB/OS momentum at neutral suggests a neutral short-term outlook (days/weeks) at worst for EEM; key U...
Short-Term (days/weeks) : mixed picture, likely short-term low within 1-2 weeks, wait to buy Key US equity indices were lower last week, breaching the uptrend from the August lows as Daily OB/OS momentum fell to moderately or fully oversold. As of the close on Friday, the S&P 500 was testing 18 August 2022 support at 4290 (daily bar chart) and support at the 25% Fibonacci retracement of the gains from the October 2022 low; Daily OB/OS for the S&P 500 is turning up at the fully oversold levels ...
Short-Term (days/weeks) : EEM is struggling, but would give the benefit of the doubt for now, so short-term outlook still positive EEM was higher last week, turning up at trend support from the October 2022 low as Daily OB/OS momentum turned down at modestly overbought. At the end of the week, EEM was breaching trend resistance from the July high; Daily OB/OS momentum was modestly overbought. EEM has struggled to build momentum, but would give the uptrend in place from the July low the benefit o...
Short-Term (days/weeks) : positive, but increased uncertainty Key US equity indices were mostly slightly lower last week, including the S&P 500, Nasdaq Composite and Nasdaq 100 ; the DJIA was unchanged. Daily OB/OS momentum indicators failed at modestly overbought. At the close on Friday, indices were at or near trend support from the December/February/March lows (S&P 500, Nasdaq Composite, Nasdaq 100) ; the DJIA was very near fall 2022 trend support. Daily OB/OS momentum indicators were neutral...
Short-Term (days/weeks) : positive EEM unexpectedly fell last week, like developed equity market indices, turning down at resistance from the July high as Daily OB/OS momentum turned down at modestly overbought. At the close on Friday, EEM was turning up at trend support from the fall 2022 low; Daily OB/OS momentum was modestly overbought. Modest price weakness for EEM last week is disappointing, but DJIA /NY SE ITI analogs of troughs in the 50% range and the DJIA/Pre-Election Year analog model ...
Short-Term (days/weeks): positive The DJ Eurostoxx 50 was unexpectedly lower last week, like US equity indices, breaching old trend support from the fall 2022 low as Daily OB/OS momentum turned negative. However, at the close on Friday, the DJ Eurostoxx 50 was turning up at short-term support from the May/June/August lows and Daily OB/OS momentum was turning up at modestly oversold. Modest DJ Eurostoxx 50 price weakness last week is disappointing, but this does not look like a clear short-term s...
Short-Term (days/weeks) : positive Key US equity indices were all unexpectedly modestly lower last week, turning down at resistance as Daily OB/OS momentum indicators turned down at moderately overbought. At the close on Friday, indices were turning up at or near short-term support; Daily OB/OS momentum indicators were very modestly overbought (S&P 500, DJIA, Nasdaq Composite) or modestly overbought (Nasdaq 100). New, best-fit DJIA/NY SE ITI analogs (troughs in the 50% range) suggest that modest...
Short-Term (days/weeks) : positive EEM was higher last week, as expected, holding above fall 2022 support as Daily OB/OS momentum turned positive: the short-term trend (days/weeks) is positive. At the close on Friday, EEM Daily OB/OS momentum was only modestly overbought, leaving room for further upside. New DJIA /NYSE ITI analogs of troughs in the 50% range suggest strength to early October for the key US equity market; this should be bullish for GEM. See Daily OB/OS Charts, attached, page 9 an...
Short-Term (days/weeks): positive The DJ Eurostoxx 50 improved last week, as expected, turning up at trend support from the fall 2022 low as Daily OB/OS momentum turned positive. This looks like a short-term buy signal (days/weeks). At the close on Friday, the DJ Eurostoxx 50 was turning down at resistance and Daily OB/OS momentum was turning down at modestly overbought. The intermediate trend for Europe equities (weeks/months) has turned positive, so any weakness is likely to be modest: new DJI...
Short-Term (days/weeks): probably at a low The DJ Eurostoxx 50 was slightly higher last week, turning up at trend support from the fall 2022 low as Daily OB/OS momentum turned up in oversold territory At the close on Friday, the DJ Eurostoxx 50 was again testing fall 2022 trend support ; Daily OB/OS momentum was still modestly oversold. With the DJ Eurostoxx 50 at support and Daily OB/OS momentum oversold, it looks like a short-term low is in place. See Daily OB/OS Charts, attached, page 6 and a...
Short-Term (days/weeks) : looks like a low is in place Key US equity indices were mostly slightly higher last week, turning up at trend support as Daily OB/OS momentum indicators turned up in oversold territory. The S&P 500 turned up at the 25% Fibonacci retracement of the gains from the October low, near the August 2022 S&P 500 4305 target support. This looks like a short-term buy signal. At the close on Friday, S&P 500 and Nasdaq 100 were testing trend support, the Nasdaq Composite uptrend was...
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