And we are back through the 2/22 gap. Pretty solid short-term defensive save. Also, no OS reading yet on RSI – nice stand there, too. If we can now hold this area, chances increase that the drawdown is close to being over…$SPX $SPY $ES_F pic.twitter.com/OQTm4xuIjN — Ian McMillan, CMT (@the_chart_life) April 23, 2024 🏆 Today’s […]
Chart of the Day – Wednesday, January 24, 2024
Don't shoot the messenger, but the break above the late 2021 highs targets 5400-5600 for the S&P 500 in the coming months, depending on where you want to position your Fibs. $SPX $SPY $ES_F pic.twitter.com/wGPx5m89K6 — Ian McMillan, CMT (@the_chart_life) January 24, 2024 🏆 Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). […]
Chart of the Day – Wednesday, January 3, 2023
Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). Stocks are off to an ugly start in 2024. For starters, Santa never showed up. The S&P 500 has historically had below-average returns when Santa skips town. Seasonality aside, Ian points out that the major averages have trapped the Bulls with some nasty failed […]
Chart of the Day – Friday, December 22, 2023
30-year yields 'roundtrip' it back to the breakout area at 4%. Looks like we are going to start 2024 in the same spot we started 2023…$TYX $TLT pic.twitter.com/DzxS7LoADw — Ian McMillan, CMT (@the_chart_life) December 22, 2023 Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). Yields will likely end flat on the year […]
Chart of the Day – Monday, December 11, 2023
ATHs for Semis. Put it in the bullish bucket.$SMH pic.twitter.com/7WyoZQMj80 — Ian McMillan, CMT (@the_chart_life) December 11, 2023 Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). The Semiconductor ETF ($SMH) broke out to record highs today after its third largest component, Broadcom ($AVGO), surged +9%. $SMH initially broke out in July, but […]
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