The S&P 500’s Ascending Triangle pointed out in last week’s commentary, broke out to the upside this past week creating a near-term S&P 500 target of 3950. Additionally, the numbers of stocks making New Highs closed off their recent lows for the first time in a long while. The strongest mover was the Advance-Decline line […]
This past week was short and light. The S&P 500 brought in $26.25 billion in inflows versus $28.25 billion in capital outflows. We begin the new year with very poor market internals. Breadth is week with the Advance-Decline Line falling and the % of stocks obtaining New Highs falling rapidly, nearing July / October lows. […]
After stumbling out of the gate Monday, the bulls dashed through the bears Wednesday on an exuberant Santa Clause sleigh ride rally. The Santa Clause Rally is a short seasonal cycle that typically begins the week before Christmas and can last into early January, sometimes peaking between Christmas and New Year’s (see attached: Williams True […]
In our 12/5 edition of volume analysis, we wrote, “The volume and other internal data may be suggesting this is a short-term rally with still more downside to go. Traders seem to be speculating that inflation is on the down swing and the Fed will soon move to be accommodative”…..”The S&P 500 is threatening to […]
Dormeier’s Work Reflected in Professional Accomplishments and AwardsKingsview Partners Chief Technical Analyst Buff Dormeier, CMT, continues to garner accolades for his efforts in 2022 amid the launch of a new portfolio strategy. These newest accomplishments underscore his deep understanding of the market’s technical aspects and emphasize his standing as a helpful resource for both his […]
WRITTEN BY: CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMTⓇ S&P 500 3900 support was tested twice last week (3903,3906) and held. This action illustrates the bulls are providing strong support @ the SPX 500 3900 index battleline. Meanwhile, S&P 500 Capital Weighted Volume is also holding it corresponding support @331. S&P 500 resistance resides at the former […]
CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMTⓇ In review, two weeks ago 8/15 we noted capital weighted volume was meeting critical resistance and the outcome of this battleline could determine the near and intermediate state of the market by stating “Capital Weighted Volume is also on the cusp of breaking resistance….Overall, price and volume are at […]
CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMTⓇ In previous commentary, we discussed this overbought market may be closing in on heavy resistance. This past week the market and our leading indicators all turned lower. Most noteworthy, Capital Weighted Volume, which was on the cusp of breaking into bullish territory, hit resistance and sold-off. Our thesis view […]
CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMTⓇ We are closing in on ground zero in meeting critical resistance of the broad market. Closing last week @ 4280, S&P 500 resistance presently resides @ approximately 4300, rising approximately 7 points per week. Additionally, Capital Weighted Volume is also on the cusp of breaking resistance. Should capital weighted […]
CHIEF TECHNICAL ANALYST, BUFF DORMEIER, CMTⓇ The broad markets have continued to rapidly improve since the VPCI V capitulation bottom June 21st. Capital flows have lagged in the recovery, but the volume has been decent. Capital Weighted volume is now itching close to becoming an uptrend. However, capital weighed dollar volume (capital flows) continues to […]