Recent Articles in US Markets

This is for aggressive traders. The Q's are into an hourly MOB band and a zone to put on a long trade. Once we get a move above 350 we should be able to get an upside projection. Keep a tight stop at 342 - 339.

Below is the note we sent out on December 20 where we indicated a buy area for the S&P and a MFU-4 target in the indicated double lined area. That area was 4811, and the high came in at 4808.25.

The S&P is up a little over +200 points from our buy signal last week and now getting close to our MFU-4 target area. Momentum is strong, and we have improving internals, which means the index may exceed this target that was generated off the March low.

The setup in the Emini looks very good as the index pulled back and held at the channel support line. On another system we use, which is a mechanical trading algorithm, we have a buy setting up now, and it will trigger with a move above 4589.

The reversal off the ellipse buy zones were very strong and impulsive, a good sign. We see another 2% to 3.5% upside before these indices come into target/resistance zones. We want to stay long and add to stocks that have pulled back into support zones such as QCOM, NVDA, AMD, CSCO, FFIV, ARCB, ROK, PSTG, WST, ZNTL, WMK, SPTN, and MGPI. We have more ideas that screen well, which we will send along in chart form.

The recent pullback in both the S&P 500 and Nasdaq 100 looks like a buyable pullback into support. Both indices have held and turned up from their respective 50-day averages and the lower end of their intermediate-term regression trend channels. Both indices have also turned up from an ellipse buy signal. For the S&P, we get upside in the 4815—4835 area.

The recent pullback in the equity market has the S&P 500 down to an ellipse buy area and at the lower end of its long-term channel support. This looks like a spot to be a buyer.

We got the pullback we were looking for in the major averages reviewed last week.

After a 5-day pause at the MOB target band, the S&P was able to get above it and extending the advance off the October low. On page 3, we review the weekly chart with the next major hurdle for the index.