Guy S. Ortmann, CMT is a successful equity research analyst/strategist with a proven track record, over the past two decades, of using a combination of technical and fundamental analysis for timely and profitable U.S. macro equity market and stock/commodity specific ideas for institutional and high net worth clients. His research has been published in many high visibility Wall Street publications. It is his view that both technical and fundamental analysis are absolute requirements for consistent portfolio performance.
All of the index charts remain in short-term uptrends and above their 50 DMAs.
A review of recent chart action on the major benchmarks is in order.
Buyers have been getting more aggressive on each subsequent pullback.
Resistance levels were tested again but failed to breach to the upside.
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