We con-tinue to anticipate a pullback in the major averages after such a sharp move higher. This can be noticed in high volume sell offs by institutional funds on April 20 and May 6. ThoughThe Shenzhen and Shanghai were up 0.5% and 1% for the week,The Shenzhen recorded its first down week in the last 10 weeks, downChinese markets continue to trade strongly, finishing the week higher andChinese markets gained through Thursday. Global Focus Emerging Long. If the indices are able to shake off this three-week sell-off and Australia’s ASX All-Ordinaries Index gained 0.5% this week, bouncing slightly higher from 50-day moving average support for a second week.
Global Focus Developed Long.
The Shenzhen finishedChinese markets blasted higher this week, with both indices upThe Shenzhen continues to push higher for the year, up 3.4% while theChinese markets continue to look strong, ending up for another short William J. O’Neil William O’Neil is likely one of the greatest stock traders of our time. moving average, which currently resides approximately 19% and 6% below the Shenzhen and Shanghai, respectively. The market was unable to break out of this two month long range and is now testing the August lows at 2147. By accessing or using this site, and/or other William O’Neil + Company Inc. services/products, you consent and agree to William O’Neil + Company Inc.’s U.S. indices traded down early in the week, continuing to chop around in tandem with global events. With the markets extremely extended from 10- and 40-week moving averages, it would not be surprising if markets took a pause or bounced at this point with the potential of a follow-through day occurring in the coming week The distribution day count rose to six days on the S&P 500 and three on the Nasdaq, as multiple leadership ideas closed beneath short-term support levels. The index has held its 40-week moving average thus far, but is in a Downtrend nonetheless, at 5% off 52-week highs and 3% below its 10-week moving average. The mar-ket has been shifted to Under Pressure for the first time since the July 8 follow-through day.Chinese markets fell more than 1% this week, logging oneChinese markets advanced, with both the Shenzhen and ShanghaiChinese markets continue to consolidate near moving averages.Chinese markets traded flat for the week as both markets remainChinese markets pulled back this week, with the Shenzhen nowChinese markets finished down for the week, recording oneThe S&P 500 and Nasdaq rose for a fourth straight week, grinding higher in relatively light volume. O’Neil made a large amount of money while he was only in his twenties, enough to buy a seat on the New York Stock Exchange.
Posted on December 31, 2015 April 11, 2017 by Neeraj Khanna. testing 10- and 40-week moving averages and the Shanghai testing its 10-week moving average. It will lose one at the end of next … On the S&P 500, we would like to see 2120 hold, but ultimately we view the rising 50-day moving average as a key support level. Posted on May 8, 2015 April 11, 2017 by Neeraj Khanna. Both Mainland Chinese markets fell over 2% through Thursday, with volume remaining below average. It’s also consistent with ongoing purchases by large institutional investors — another theme in O’Neil’s book. With that said, the S&P 500 closed below its 40-week moving average on Wednesday, which automatically switched the market condition to a correction. We did pick up one distribution day on the S&P 500 and two on the Nasdaq, but overall the count still remains low.
The index did not pick up any additional distribution days but still has four in the past five weeks.