Here we go. Semiconductors posted good numbers, and everyone was rushing in. The market broke above 200-day MA and a significant resistance at the 4,000 level. It retreated a bit later during the day but retook the levels back. We are now approaching the last hurdle – the downward-sloping trend line. We need to Continue reading →

  The market continued selling as I expected that to happen. We only had a bright moment when the market reversed and rallied to erase all losses. It would have been a great sign indicating that what we have seen was just a pullback at the significant 4,000 resistance.     But unfortunately, the rally Continue reading →

  The weakness in the market prevailed today. After not-so-good economic data and hawkish talks from the FED heads (there are still a bunch of the FED directors that want to raise rates more than the FED itself as a whole, I guess they are bearish) along with enormous put-buying that the market makers need Continue reading →

  The market was dull and weak today. It almost seems like it is rolling over and getting ready to fall.     The Ichimoku chart is still positive but also starting to display weakness.     The trend should be positive tomorrow. If so, it would be positive for the entire market and its Continue reading →

  Today, the market was closed for the Martin Luther King holiday, but futures continued trading abroad. And it was muted with a slight downward trend. Will we see a renewed rally tomorrow, or is the rally over, and the markets roll back down, failing to hold the new breakout? The price is still above Continue reading →

  As expected, the market continued higher, although at a slower pace than expected, given the good news about inflation. The CPI came out and indicated slowing inflation. It rocked the market a bit, but then it went higher. The buy rumors and sell the news didn’t happen, although it may happen tomorrow. The market Continue reading →

  The market participants are now full of optimism and bidding the prices up in expectation of mild inflation data coming out tomorrow morning.     On the chart above, we reached two major resistance levels – the 200-day MA and a long-term resistance at the 3966 level (that is almost 3 years old, so Continue reading →

  The market seems to be improving. Powell had his remarks in Sweden and briefly spoke about the apolitical role of the FED avoiding any hints about the monetary policy. Investors seem to take it as the FED is trying to stay neutral advertising possible pauses in hikes. It seems, he didn’t want to say Continue reading →