Technical Analysis Review for the Week Starting 4/27/15

Key Points:

• S&P 500 testing all-time highs

• Advance-Decline line at all-time highs

• Nasdaq broke out to relative highs and is close to all time high

• Bonds broke support

• Europe at YTD highs

S&P 500 Daily:

 



The S&P 500  is currently testing all-time highs. With the Advance-Decline line at all-time highs it is expected that the S&P 500 will break through to all time highs and continue its uptrend. The danger here is a pullback to trap the people going long the breakout to all-time highs.

 

Nasdaq Daily:

 

 

The Nasdaq broke out to relative highs and is currently very close to all-time highs from 2000. It is expected that the Nasdaq will test all-time highs at a minimum.

 

 

Russell 2000 Daily:

 

 

 

The Russell 2000 which was briefly leading recently, lost that status in the last week. With it being very close to all-time highs, a lot of significant should not be placed on its lost leadership status.

 

NYSE Advance-Decline Line:

 

 

The Advance-Decline Line made another all-time high this week. Due to its leadership status, it is expected that the general indices will follow.

 

TLT Daily:

 

 

The bonds broke through its multi-week support with conviction last week. It is currently testing its breakdown point and it is expected that bonds will continue down.

 

WTI Daily:

 

 

WTI has been consolidating since its recent breakout from resistance. Due to its recent multi-month breakout, it is expected that WTI will continue up through the recent consolidation.

 

 

VGK Daily:

 

 

Europe YTD has been acting very strongly. It is currently up ~13%. With its recent breakout through its consolidation, it is expected that it will continue its uptrend.