Sat 31st May May is usually known for stocks as the month for ‘Sell in May and Go Away’. One has to wonder whether this is true now given the close we have just seen for the major weight indices of the S&P500 and the Dow Jones Industrial Average (DJIA). A more appropriate axiom for […]

Friday’s action on the S&P500 had me thinking that this was a bit like a ‘Neil Armstrong moon landing’ moment. It was ‘one small step for the S&P500’ higher on Friday but ‘one giant leap for market psyche’ with the significant close above the psychological 1,900 level:

Thurs 22nd May 11.15 am Is the big cap US stock Priceline (PCLN) trying to tell us something? This stock has just made a ‘Bull Flag’ breakout. As per usual, ‘one swallow does not a summer make’ BUT a weekly close up and out of this flag pattern would be a rather bullish signal:

Fri 16th May (9.40 am) The more ‘risk sensitive’ of the US Indices is the ‘small caps’ Russell 2000 (RUT) and this is ringing a small warning bell again today. This index has closed again below the ‘neck line’ support of the 1,100 level. Whilst the daily candle here was bearish it did manage to close with […]

Wed 14th May (11 am) US stock indices keep pushing higher and London’s FTSE 100 is also pushing up to test a major all time high. The FTSE closed at its highest level in 14 years: FTSE monthly