My Thoughts on the Market

The market made its way down to 6550 today and bounced pretty much immediately to close at 6606. This may very well be the new battle ground level for a minute. It has pretty much… 

This chart looks like my middle child’s room. To quote a move line from The Replacements, “I’ve seen monkey shit fights at the zoo that are more organized than this!” At first glance, there is… 

The market moved back up to the 6800 level, but can’t seem to break past it. The 6800 level is now looking like resistance instead of support. If it cannot close above it soon, the… 

AI Summary of the Previous Week: This week illustrated the S&P 500’s vulnerability to external forces, particularly geopolitical events, emphasizing the need for investors to stay alert to global developments. The market is sitting just… 

Another week of trading in the range. The market moved higher the first part of the week, then reversed. Now sitting right in the middle of the range. With everything pretty much neutral, it can… 

The S&P 500 has been sitting between 6800-7000 for the last couple months. Neither side is interested in giving ground! What is interesting is the divergence of the Dow Jones vs Nasdaq. The Dow is… 

The market pushed down most of the week and then had a powerful move on Friday. It shot itself back up to essentially even for the week. Support seems to be holding at the 6800… 

The market broke lower a few times last week-only to recover quickly intraday. The resistance line is easy to draw. The support line, could be drawn a couple different ways. February is not a strong… 

The market broke below the rising wedge and then came back to test it. The lower edge of the wedge is now acting like resistance. At this point, it is more likely to break lower… 

Support and resistance lines certainly make sense to me. However, flags and other patterns less so. Mostly because I have not researched them as much. The market has been showing a rising wedge pattern for…