In this week’s Markham Trading Weekly Market Update, Chief Trading Strategist Blane Markham breaks down the market’s reaction to recent geopolitical headlines and the technical setup currently developing in the broader market.
Despite ongoing global tensions and headline-driven volatility, the longer-term trend for the S&P 500 remains intact. However, the index is currently trading within a tightening range that traders are watching closely.
A Market Caught Between Key Levels
At the moment, the S&P 500 appears to be consolidating between two important technical levels:
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Resistance near the 50-day moving average
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Support around the 6,800 level
As long as price remains trapped within this range, traders may continue to see choppy price action. A decisive move beyond either level could help determine the next directional trend for the market.
Range compression like this often precedes a larger move, making these levels especially important to monitor.
Unusual Reactions in Safe-Haven Assets
Blane also highlights an interesting development beneath the surface of the market.
During periods of geopolitical uncertainty, investors often move capital into traditional safe-haven assets such as gold or U.S. Treasuries. Recently, however, the reaction has been less predictable.
Treasury yields and gold have shown unusual behavior, suggesting that investors may still have confidence in equities despite the geopolitical backdrop.
These types of divergences can sometimes signal shifting market sentiment and are worth monitoring closely.
Where Opportunity Is Emerging
Even as major indexes move sideways, opportunities continue to develop across individual sectors and stocks.
One area showing notable relative strength is the energy refining sector. Several refining companies have continued to outperform the broader market, offering traders potential opportunities as energy-related trends evolve.
Blane also highlights specific individual stocks that are displaying strong momentum and favorable technical setups.
The takeaway: Even in range-bound markets, disciplined traders who focus on relative strength and technical structure can still uncover compelling opportunities.
Watch the Full Market Update
To see the charts, key technical levels, and trade setups Blane Markham is currently tracking, be sure to watch the full Markham Trading Weekly Market Update.
👉 Watch the full update to get deeper market insights and trade ideas.
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⚠️ Disclaimer: This content is for educational purposes only and should not be considered investment advice. Trading involves risk and is not suitable for all investors. Past performance is not indicative of future results.