Commentary: Paul Ebeling on Wall Street

$DIA, $SPY, $QQQ, $RUTX, $VXX

FLASH: Last week was a Wall Street market winner, and is technically Bullish overall.

Good moves seen on the week with the FANGs coming back into the action after a week or so pause. That augurs well from an Northside outlook.

After some more Northside, if we see some profit taking, will use that to position for some new buys.

There are lots of stocks in good position to move North after a week’s market gainers. The chips look good with many solid patterns set up.

The upside bias is Bullish, and an early week dip is a set up for new buys.

Pay attention, remember it is your money and so your responsibility.

The Bulls Vs The Bears

Sentiment Indicators

VIX: 12.88; -0.62 
VXN: 15.12; -0.53 
VXO: 12.14; -1.26 

Put/Call Ratio (PCR) CBO): 0.85; -0.06

The Bulls Vs The Bears: The pullback stalled Wall Street Bulls’ advance, as the bears moved back over 21 after a 2 weeks lower. The bulls are moving up, bears down.

The Bulls are at: 52.4 Vs 52.9 last

The Bears are at: 21.4 Vs 20.6 last

Support and Resistance

HeffX-LTN’s overall technical support and resistance outlook for the major Wall Street stock market indexes is Bullish.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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