Trend for Position Traders
2/22/19… The S&P 500 index remains in a confirmed Position Uptrend while its Long-Term trend remains in an “unconfirmed” status but is nearing a new uptrend.
With all eyes on the Federal Reserve’s January policy minutes release last week, investors seemed to issue a sigh of relief as markets stabilized and continued their ascent into Friday’s close. The minutes revealed that the Fed appears likely to confirm its plan to maintain a bloated balance sheet well into the future.
According to the minutes:
“Almost all participants thought that it would be desirable to announce before too long a plan to stop reducing the Federal Reserve’s asset holdings later this year. Such an announcement would provide more certainty about the process for completing the normalization of the size of the Federal Reserve’s balance sheet.”
Since it began unwinding its massive bond portfolio in late 2017, the bond and equity markets have suffered increased volatility. The Fed’s reaction of holding off on further rate hikes and to prematurely wrap up the unwinding of its balance sheet should come as no surprise as it provides even more evidence that the Fed is driven not purely by economic data (as it often suggests) but specifically by asset prices.
All told, the S&P 500 notched another week of modest gains on moderate volume as the closely watched index continued to hold above its key 200 DMA support area into Friday’s close. Traders should note immediate overhead resistance in the $2800-$2875 range.
While the Long-Term uptrend is still unconfirmed, it is edging ever closer to a new uptrend status. Accordingly, we are turning bullish and are prudently trend trading the recent market strength.
Our Market Trakker alert system will keep you advised to the current broad U.S. stock market trend. Smart traders may take the opportunity now to research their favorite stocks and ETFs so that they can take advantage of the inevitable price moves!
When we detect a change in the major Long-Term trend, you will be notified again by email along with details on how we are responding to the selloff.
Long-Term Trend for Long-Term Investors
LONG-TERM TREND UNCONFIRMED
2/22/19… The S&P 500 Long-Term trend edged closer to a new uptrend this week, though still remains in an unconfirmed status after recently emerging from a Long-term downtrend. When our Market Trakker system detects a change in the underlying Long-Term Trend in the S&P 500, this page will be updated and all current members will receive an alert by email. See our long-term chart analysis below.
- Market Trakker Charts – Updated Every Weekend
S&P 500 Index – Daily Chart
S&P 500 Index – Long-Term Trend Chart
(Currently Unconfirmed – Last New Confirmed Downtrend Identified on 12/21/18)
S&P 500 Index – 2 Year Weekly Chart
(Unconfirmed Position Trend)
S&P 500 Index with Bollinger Bands
S&P 500 Futures Chart
Updates upon refresh during market hours
Percent of S&P 500 Stocks Above 200 DMA
(Measures market participation)
New! S&P 500 vs Volatility Index (VIX)
(Trading the “fear” index)
U.S. New Highs-New Lows
(Gauges internal trend momentum)
New! S&P 500 Index – P/E Ratio
(Current P/E valuation of S&P 500)
Min: 5.31 (Dec 1917)
Max: 123.73 (May 2009)
(The next market crash will be epic…)
S&P 500 Performance By President
- Market Trakker Resources
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