This Rally Getting Dizzy, Yet? With the close above the widely followed 200-day moving average at around 3000, the index is flying high above it in the overnight futures market. Can the index obliterate this level by rising further above it today or would it be struggling here for a while? Either way, it is...

Bull-market or Bald-eagle Market?! After failing to close above the widely followed 200-day moving average at around 3000, the index is giving it another try with flying high above it in the overnight futures market. Can the index obliterate this level in one fell swoop or would it be struggling here for a while? Either...

Bipolar Markets: Melt Up/Down with Hope/Despair Our models spent last couple of weeks pointing to the 2950 as the key level to clear. On Friday’s close above that level (with the close at 2955.45), S&P 500 Index appears set to steam way past it with vengeance, with the morning futures pointing to levels above 3010....

Consolidation or a Search for Direction? Yesterday’s close below 2950 (at 2948.51, to be specific) emphasizes the validity of our models’ thesis focused on the 2950 level. With the memorial day holiday on Monday, both the bulls and the bears might want to square off their positions and look for a fresh start next week....

Market Internals Point to Indecision In Digesting the Latest Rally The main thesis of our trading plans for the last few days has been: “The 2950 level is the immediate resistance which needs to be cleared on a daily close basis for further upside. Bears should exercise caution while the index is above 2900. If...