Showing posts with label Stephen Suttmeier. Show all posts
Showing posts with label Stephen Suttmeier. Show all posts

Thursday, October 17, 2024

Unconfirmed Uptrend According to Dow Theory | Stephen Suttmeier

The current position of Dow Theory is an unconfirmed uptrend, or bull market, with new highs for the Industrials (DJIA) and a lack of new highs for the Transports (DJT). 


Until the Transports confirm the highs on the Industrials, this bearish non-confirmation signal for Dow Theory is a market risk.

Tuesday, October 15, 2024

S&P 500 Cup-and-Handle Breakout Targets 5,930 & 6,180 | Stephen Suttmeier

The S&P 500 has experienced a bullish breakout from a cup-and-handle formation that formed between July and September, indicating potential upside targets of 5,930 and 6,180. 


Seasonal trends for the fourth quarter further support these targets. Last week’s tactical breakout appears strong, with support near the 5,775-5,745 range. Importantly, the cup-and-handle pattern remains intact as long as the S&P 500 stays above the 5,600s.