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US Equity Market Analysis 3-30-16

The US equity markets are now challenging major resistance defined by the very technically significant Dec 31/Jan 4th gaps. This video starts with an overview of the longer-term technical outlook for US equities followed by an in-depth look at the daily & intraday charts, including key technical levels and developments.

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Mar 30, 2016 11:36am|Categories: Equity Market Analysis|Tags: , , , , , , , |7 Comments

7 Comments

  1. Franklin4 March 30, 2016 1:30 pm at 1:30 pm

    Fine analysis as always, and thank you for it. I wonder, though, at what point do you have to set aside technicals and take a hard look at fundamentals to determine your position. As you stated, the FED has demonstrated their power to influence market swings and behavioral patterns, but they can’t truly control the elemental consequences of supply and demand. We’ve seen them use those high frequency algorithms to put an artificial bid under the indexes at certain times each day (3’oclock power hour) influencing traders’ habits, hence the algorithm BTFD. Indeed, it appears many factors point to a large, disproportionally influential party training the group to diligently cash them out before the mother of all rug pulls, so why shouldn’t one expect them to allow a correction and then carry the markets back into solidly bullish territory before stepping aside and letting everything drop like a stone into the Atlantic? Chart analysis aside, what is your honest view regarding the state of the global economy, including the US, right now, and where do you view the trend is headed going into the future?

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    • lee1 March 31, 2016 7:40 am at 7:40 am

      I think Yellen will keep this a bull market until Obama leaves. This is why I think charts for the overall index is not useful because it is an artificial environment, being buoyed by world central banks. People keep pulling up bearish looking charts and indicators and yet the market just keeps going higher.

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    • rsotc March 31, 2016 3:08 pm at 3:08 pm

      Franklin- Good questions & you make a valid point. My reply might be a bit complex so I will reply as soon as I get a chance.

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  2. schooner March 30, 2016 11:14 pm at 11:14 pm

    Terrific market summary, as usual! Sometimes I think you should call your updates “From the left side of the chart” because you do such a good job of looking way back to find key points of support and resistance that still are playing out on the right side of the chart! Thanks for the excellent work.

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  3. Shambo March 31, 2016 8:19 am at 8:19 am

    @lee1 — I think you’re giving Yellen too much credit for what they can manage to do. The problem with these conspiracy ideas is that people in power are not that coordinated and in control, to make these things happen — if they were really that organized and clear and on top of things, we’d have way fewer problems in the first place. They’re just bumbling around.

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  4. lee1 April 2, 2016 6:50 am at 6:50 am

    I am not sure I would call it a conspiracy theory if the Obama admin wants to keep the markets nice and strong.

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