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The S&P 500 has been in a steady downtrend all year. That makes it a good time to assess the state of the index before the big Fed announcement later today.
Bearish and bullish forces are battling each other on this chart. First you have the sharply falling trendline that began on January 4. This 2-1/2 month slide dragged the 50-day moving average SMA below the 200-day MA today. Such a “death cross” is sometimes considered a bearish pattern, but it can also be a lagging indicator.
On the bullish side, we have recent attempts …
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Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than four-fifths of the index's members advanced,...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...