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S&P 500 Performance Maps and Technical Analysis

1 Day Performance Map:

1 Week Performance Map:

1 Month Performance Map:

Daily Chart Technical Analysis:

Previous Post (January 31)

Today's Chart

Market Summary

I am still maintaining my short term bearish but long term bullish outlook from January 31. The stock market had a major run this month and now seems to be correcting. It would not surprise me if February or March ends up being a volatile month. I will keep my eye on the US dollar, as it has developed an inverse relationship against the S&P 500 over the last couple months. Even after the market selloff this week, I think the market needs to correct some more before it will be ready for another major run.

US Dollar Index vs S&P 500

Stocks to Watch

ALB

I am bullish on lithium stocks because they are a key component in lithium-ion batteries. As electric cars gain higher demand lithium producing companies will be able to take advantage of that. It is also now oversold in my opinion and is approaching some good technical levels to buy at. I also like the 1 year price target of $144.00 that analysts have, along with a lot of their recent upgrades.

Monthly Chart

Weekly Chart

Daily Chart

Analyst recommendations (Yahoo Finance)

I provide frequent updates on cryptos and US stocks along with occasional updates on forex and futures. I use fundamental and technical analysis to dictate where markets go.

Disclamer:
I am not a financial adviser nor is this professional financial advice. These are just my opinions and you should do your own due diligence before making any investments.