Commentary: Paul Ebeling on Wall Street
$DIA, $SPY, $QQQ, $VXX
Looking at the major US stock market indexes technically
The major US stock market indexes made good on Key reversals last week, moving through the
near near term resistance. The pause to refresh Friday was on the cards, and a couple of days rest works to consolidate the move and drive it higher.
That being the case, see more Northside room to add solid plays as they show themselves, so watch for the breaks, and if missed, there will likely be more chances.
When stocks resume the move savvy participants will let the money making Long positions ride and then when new stocks break higher add new positions, as long as the internals are solid.
Remember, there will always be a trade…it is your money and your responsibility.
The Bulls Vs The Bears
VIX: 12.65; -0.58
VXN: 16.19; -0.19
VXO: 12.57; -0.64
Put/Call Ratio (OCR) CBOE: 0.98; +0.17
The Bulls fell the past 2 weeks as the market started up again, that is how Wall Street works
The Bulls are at 43.1 Vs 43.6 last
The Bears are at 20.6 Vs 20.8 last
Support and Resistance
HeffX-LTN’s Market Indexes Technical Analysis for the week ended 11 May 2018
Have a terrific week.
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