MEM TV: How Much Higher Can We Go?

Mary Ellen McGonagle
by Mary Ellen McGonagle,
President, MEM Investment Research

In this episode of StockCharts TV'sThe MEM Edge, Mary Ellen reviews the primary drivers of this week's rally, as well as which sectors have moved into an uptrend. She then shares the next area of possible upside resistance.

This video was originally broadcast on October 28, 2022. Click on the above image to watch on our dedicated MEM Edge pageon StockCharts TV, or clickthis linkto watch on YouTube. You can also watch on our on-demand website,StockChartsTV.com, usingthis link.

New episodes of The MEM Edge air Fridays at 5pm PT on StockCharts TV. You can view all previously recorded episodes at this link. You can also receive a 4-week free trial of her MEM Edge Report by clicking the image below.

Mary Ellen McGonagle
About The Author:

After a stint on Wall Street, Mary became an analyst, working with clients that span the globe, including big names like Fidelity Asset Management, Morgan Stanley, Merrill Lynch, and Oppenheimer. Learn More 

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Tech Taps the Brakes, Homebuilders Hit the Gas: See the Rotation on StockCharts Today

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by Jayanthi Gopalakrishnan,
Director of Site Content, StockCharts.com

KEY TAKEAWAYS * The S&P 500 notched a tiny new high while mega-cap tech cooled. Check the Market Summary Factors and MarketCarpet to see the rotation. * XHB cleared its 200-day moving average, and precious metals rose. * With GOOGL, TSLA, and IBM on deck and housing data due, stay patient...   READ MORE 

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by Julius de Kempenaer,
Senior Technical Analyst, StockCharts.com

KEY TAKEAWAYS * No changes in sector ranking composition this week, a rare occurrence * Technology sector continues to dominate, showing sustained strength * Industrials rotating out of leading quadrant but maintaining second-highest RS ratio * Financials and materials showing negative trends, potentially exiting top 5 Sector Rotation Stalls, Tech Remains King Despite a...   READ MORE 

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Milan Vaishnav
by Milan Vaishnav,
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The Nifty traded in a broadly sideways and range-bound manner throughout the week, ending it with a modest decline. The Index oscillated within a narrow 276-point range, between 25144.60 on the higher end and 24918.65 on the lower end, before settling mildly lower. The India VIX declined by...   READ MORE 

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by David Keller,
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KEY TAKEAWAYS * The shooting star pattern indicates a short-term rotation from accumulation to distribution. * The bearish engulfing pattern suggests sellers have taken control, suggesting further weakness. * The evening star pattern is a three-candle formation that illustrates an exhaustion of buying power. There is no denying that the broad markets remain...   READ MORE 

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