Author Archives: Rick Rouse
The Consumer Discretionary Select Spiders (XLY) extended its winning streak to 4-straight sessions after tapping an intraday and fresh all-time high of $129.52. New and lower resistance at $129.50-$130 was cleared but held. A close above the latter would be an ongoing bullish signal for additional strength towards $131.50-$132, depending on momentum. Current support is […]
The iShares Russell 1000 (IWF) closed in positive territory for the 3rd-straight day after trading to a fresh all-time high of $187.43. Uncharted territory and lower resistance at $187-$187.50 was cleared but held. A close above the latter would signal additional momentum towards $188.50-$189. Near-term and rising support is at $185-$184.50. A close below the […]
The S&P 500 Volatility Index ($VIX) fell for the 3rd-straight session despite trading to a high of 16.32 shortly after the open. Lower resistance at 16.50-17 was challenged but held. A close back above the 17.50 level would be a bearish development with risk towards 19.50-20. Upper support at 15.50-15 was recovered on the late […]
Bulls Extend Winning Streak to 3-Straight 5:00pm (EST) The market was higher for the 3rd-straight session on Wednesday as private sector employment soared with additional better-than-expected economic news keeping the bullish sentiment intact. The reported number of coronavirus cases of the deadly disease continues to rise in China but didn’t dampen enthusiasm as the outbreak […]
