Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street


Earnings season is in full swing now, and ramps up with FAANG’s GOOG (23 April atm), AMZN (26 April atm).

Many others are scheduled to report too, The Bulls are looking for these leadership stocks to trigger a new leg North.

There are lots of good patterns formed up to drive the market North

That being the case, look at more positions as the market heads up on the back of the myraid of  good patterns.

Crude Oil, big leaders and, reliable retail, this move is still in relief bounce mode, and while it is there is good money to be made, we will know soon if it holds or fades at the old highs.

Should it hold it can move higher as there are lots of really good patterns.

Watch this

If the semis dropping out not good a good sign, watch for a SOX rally off Fibo double
bottom.  That happens, then super, we will see, Yes?


The Bulls Vs The Bears

Sentiment Indicators

VIX: 16.88; +0.92
VXN: 21.63; +1.47
VXO: 16.72; +1.46

Put/Call Ratio (PCR) CBOE: 0.98; +0.01

The Bulls and The Bears

The Bulls rose a bit, while The Bears continued to rise. That is significant because The Bears have been so low for too long.

The Bulls are at 43.6 Vs 42.2 last

The Bears are at 19.8 Vs 18.6 last


Support and Resistance

We have the indexes test to Key support, and now see it running up to and perhaps through the 50-Day MAs, a clear break and hold above them will be Very Bullish for this market now..

HeffX-LTN’s Market Major US Stock Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
20 April 2018 QQQ 162.3 Neutral (-0.21) 158.64 163.90
20 April 2018 DIA 244.48 Neutral (-0.24) 238.32 244.76
20 April 2018 SPY 266.61 Neutral (-0.20) 266.27 268.35

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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