Commentary: Paul Ebeling on Wall Street
$DIA, $SPY, $QQQ, $RUTX
Looking at the major US stock market indexes in light of looming Korea peace and no US-China trade war.
Overall, last week saw the major US stock market indices holding their ranges, trying but not breaking out, RUTX will try harder this week.
There are solid patterns in software, and drugs/healthcare in position.
Some chip stocks are setting up too.
The NAS FAANGs have improved, if they continue they do then other indices will break higher.
The market performs to geo-political news.
Friday the White House said it could take a harder line given the NKorea Summit was off.
But NKorea came alive quickly stating that the Summit is “desperately needed” and that it would engage in one “whenever, wherever.”
That prompted President Trump to say later in the day that the 2 sides were again talking. Now it looks to me like the Korean Peace Summit in on for 12 June in Singapore.
The SPY and QQQ futures are flat to unchanged as of this writing, 1:10a EDT, Monday, 29 May.
Pay attention in here, remember it is your money, so your responsibility.
The Bulls Vs The Bears
VIX: 13.22; +0.69
VXN: 16.06; +0.24
VXO: 12.74; +2.21
Put/Call Ratio (PCR) CBOE: 0.92; +0.05
The Bulls continued their recovery with another 3 pt gainer. But still off their highs.
The Bears held steady after a 2 big moves to the Northside.
The Bulls are at: 49.1 Vs 46.6
The Bears are at: 19.2 Vs 19.4
Support and Redistance
HeffX-LTN’s US Major Stock Market Indexes Technical Analysis for Week ending 25 May 2018
Have a terrific week.
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