A Technical Check-Up On The Stock Market (Technical Analysis)

Summary

  • The long-term primary trend has been bullish since 2009, and remains so.
  • The S&P 500 is bouncing off the bottom of the latest fractal trading-range and is setting up to hit new highs later this year.
  • The very short-term outlook is pointing to market weakness this week (tax-collection week).
  • We will be adding to our longs during this weakness.
  • This idea was discussed in more depth with members of my private investing community, Away From The Herd. Learn More »

Strong black bull

alberto clemares expósito

From a fundamental perspective, the debt-ceiling remains a fiscal and psychological drag on the stock market until the political and economic self-harming ends, but for now the spending can continue thanks to the Treasury cash balance (TCB) and the "extraordinary measures" available

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This article was written by

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ANG Traders is an investor with 40+ years of experience and has degrees in math, science, and education. He believes that Modern Monetary Theory analysis provides the best predictions for market action and staying with the primary trend is key to wealth accumulation.

He leads the investing group Away From The Herd, along with David Huston and Alan Longbon. Their working-hypothesis is that, in addition to Federal fund flows, the only other constant in the market is the human emotion of fear, the fear of losing and fear of missing out (greed). These emotions leave repetitive patterns in the pricing history of the market which informs investors about probable futures. ANG Traders and team act on their research with stocks, index ETFs, and options - according to the risk/reward dynamics they find in the market. Features include real-time trade alerts, weekly market analysis, technical analysis, and a chat room. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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