Guy Ortmann is Senior Technical Analyst and Director of Research at Scarsdale Equities, a boutique investment banking firm in New York. He is a  Chartered Market Technician as well as  a registered fundamental research analyst  (series 86, 87, 7, 63, 24) with almost 30 years of  experience on Wall Street.Expand

His technical research involves general markets, sector specifics and individual equities, that have been noted in  Forbes, Reuters, Dow Jones Newswire among other publications.Collapse

Finding bullish and bearish reversals in the market.
We are maintaining our near-term negative outlook for the major equity indexes.
Therefore our near-term outlook for indexes remains negative.
Charts show a change of direction for these stocks.
But all the indexes rose, and several charts saw technical improvement.
The indexes are still mostly in short-term downtrends.
Bearish names dominate this week and financials in particular.
The charts and the data don't justify a change in our "negative" near-term outlook.
But the data are suggesting the possibility of some pause in the decline.
These stocks are showing signs of changing direction.

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