TradingSense

  We closed higher for a 2nd week on the indexes, except for the Small-caps (drag on banks). The Nasdaq100 is back up to a potential resistance level (the prior high on Feb 2nd), tho the S&P500 is still a long way away from that same high, and the Small-caps are near 6 month lows! The Financials headed lower still, approaching the Oct lows ( XLF ).  The Fed raised rates another .25 points. Failing bank  Credit Suisse was rescued by UBS.   First Republic bank ( FRC ) continued to tumble. The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) .   Less  likely now maybe, but this weekly trend could also eventually take us down to the pre-Covid highs of early 2020! The DOW & the Small-caps have already touched that level and rallied back up (see pics below).   NYA (NYSE composite) & IWM (small-caps): -did not participate in last week's rally. The Dollar dropped for a 2nd week, as did Int...

 Despite a tumultuous week, we ended higher than the prior week's low on the SPX, and actually higher than the prior week's HIGH on the Nasdaq 100, and lower than the prior week's LOW on the SmallCaps.!  Financials tumbled , almost to the Oct low, as banking issues continue to percolate.  The VIX rallied for a 2nd week. Next week we could see more turmoil in markets as we get the CPI & PPI inflation reports. The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) .   Less  likely now maybe, but this weekly trend could also eventually take us down to the pre-Covid highs of early 2020! The DOW & the Small-caps have already touched that level and rallied back up (see pics below).   NYA (NYSE composite) & IWM (small-caps): -both dropped. The Dollar dropped, as did Interest rates. Gold rallied for a 3rd week. Oil  dropped, and broke below the 2 month rangebound lower level! Bitcoin/ Crypt...

The 2 day relief rally was followed by a 'tail' candle on Monday, then we never looked back, dropping about 200 points on the SPX for the week! Part of the drop was blamed on the Fed's presentation, and part due to the collapse of 2 banks! We have now broken down, back below the weekly downtrend line, not a good sign for markets. Of course the VIX finally rallied. Next week we could see more turmoil in markets as we get the CPI & PPI inflation reports. 2nd largest Bank collapse in history last week! Takeaways from America’s second-largest bank failure The long term weekly ' downtrend ' from the January 2022 high continues in the SPX  (weekly 20MA line) . -- price broke down below that downtrend line last week .   Less  likely now, but this weekly trend could also eventually take us down to the pre-Covid highs of early 2020! The DOW & the Small-caps have already touched that level and rallied back up (see pics below).   NYA (NYSE composite) ...