SPX: Maintaining the Cyclical Bull Market?
The first chart is an SPX daily chart that shows bullish intermediate-term indicators. The CPC 50-day MA (above price chart) fell from 1.08 Monday to 1.05 Friday, while the NYMO 50-day MA (below price chart) continues the uptrend (other indicators not shown also show similar bullish patterns). Also, SPX has recently made higher lows and higher highs (the SPX high Friday was 1,280.42).
The second chart is an SPX monthly chart. Monday is the end of July. If SPX closes above 1,285 Monday, the MACD indicator (below price chart) may close the month maintaining the bullish crossover. Also, SPX has closed each month above the middle Bollinger Band, since rising above that level after the cyclical bull market began. Money Flow (above price chart) increased and remained positive in July.
SPX closed at 1,278.55 Friday. Currently, short-term technical indicators show SPX is severely overbought. So, if SPX closes Monday above 1,285, to maintain the monthly bullish MACD, it may fall to at least 1,261 key support later in the week, although the first few days of a new month tend to be bullish. Also, the FOMC announcement is August 8th (a week from Tuesday). So, next week may be volatile.
rthur Albert Eckart is the founder and owner of PeakTrader. Arthur has worked for commercial banks, e.g. Wells Fargo, Banc One, and First Commerce Technologies, during the 1980s and 1990s. He has also worked for Janus Funds from 1999-00. Arthur Eckart has a BA & MA in Economics from the University of Colorado. He has worked on options portfolio optimization since 1998.
Mr Eckart has developed a comprehensive trading methodology using economics, portfolio optimization, and technical analysis to maximize return and minimize risk at the same time and over time. This methodology has resulted in excellent returns with low risk over the past four years.
The second chart is an SPX monthly chart. Monday is the end of July. If SPX closes above 1,285 Monday, the MACD indicator (below price chart) may close the month maintaining the bullish crossover. Also, SPX has closed each month above the middle Bollinger Band, since rising above that level after the cyclical bull market began. Money Flow (above price chart) increased and remained positive in July.
SPX closed at 1,278.55 Friday. Currently, short-term technical indicators show SPX is severely overbought. So, if SPX closes Monday above 1,285, to maintain the monthly bullish MACD, it may fall to at least 1,261 key support later in the week, although the first few days of a new month tend to be bullish. Also, the FOMC announcement is August 8th (a week from Tuesday). So, next week may be volatile.
rthur Albert Eckart is the founder and owner of PeakTrader. Arthur has worked for commercial banks, e.g. Wells Fargo, Banc One, and First Commerce Technologies, during the 1980s and 1990s. He has also worked for Janus Funds from 1999-00. Arthur Eckart has a BA & MA in Economics from the University of Colorado. He has worked on options portfolio optimization since 1998.
Mr Eckart has developed a comprehensive trading methodology using economics, portfolio optimization, and technical analysis to maximize return and minimize risk at the same time and over time. This methodology has resulted in excellent returns with low risk over the past four years.
The first chart is an SPX daily chart that shows bullish intermediate-term indicators. The CPC 50-day MA (above price chart) fell from 1.08 Monday to 1.05 Friday, while the NYMO 50-day MA (below price chart) continues the uptrend (other indicators not shown also show similar bullish patterns). Also, SPX has recently made higher lows and higher highs (the SPX high Friday was 1,280.42).
The second chart is an SPX monthly chart. Monday is the end of July. If SPX closes above 1,285 Monday, the MACD indicator (below price chart) may close the month maintaining the bullish crossover. Also, SPX has closed each month above the middle Bollinger Band, since rising above that level after the cyclical bull market began. Money Flow (above price chart) increased and remained positive in July.
SPX closed at 1,278.55 Friday. Currently, short-term technical indicators show SPX is severely overbought. So, if SPX closes Monday above 1,285, to maintain the monthly bullish MACD, it may fall to at least 1,261 key support later in the week, although the first few days of a new month tend to be bullish. Also, the FOMC announcement is August 8th (a week from Tuesday). So, next week may be volatile.
rthur Albert Eckart is the founder and owner of PeakTrader. Arthur has worked for commercial banks, e.g. Wells Fargo, Banc One, and First Commerce Technologies, during the 1980s and 1990s. He has also worked for Janus Funds from 1999-00. Arthur Eckart has a BA & MA in Economics from the University of Colorado. He has worked on options portfolio optimization since 1998.
Mr Eckart has developed a comprehensive trading methodology using economics, portfolio optimization, and technical analysis to maximize return and minimize risk at the same time and over time. This methodology has resulted in excellent returns with low risk over the past four years.
The second chart is an SPX monthly chart. Monday is the end of July. If SPX closes above 1,285 Monday, the MACD indicator (below price chart) may close the month maintaining the bullish crossover. Also, SPX has closed each month above the middle Bollinger Band, since rising above that level after the cyclical bull market began. Money Flow (above price chart) increased and remained positive in July.
SPX closed at 1,278.55 Friday. Currently, short-term technical indicators show SPX is severely overbought. So, if SPX closes Monday above 1,285, to maintain the monthly bullish MACD, it may fall to at least 1,261 key support later in the week, although the first few days of a new month tend to be bullish. Also, the FOMC announcement is August 8th (a week from Tuesday). So, next week may be volatile.
rthur Albert Eckart is the founder and owner of PeakTrader. Arthur has worked for commercial banks, e.g. Wells Fargo, Banc One, and First Commerce Technologies, during the 1980s and 1990s. He has also worked for Janus Funds from 1999-00. Arthur Eckart has a BA & MA in Economics from the University of Colorado. He has worked on options portfolio optimization since 1998.
Mr Eckart has developed a comprehensive trading methodology using economics, portfolio optimization, and technical analysis to maximize return and minimize risk at the same time and over time. This methodology has resulted in excellent returns with low risk over the past four years.
posted by zzzzzzzzzzz at
11:46 PM
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