Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).

Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).

Looking at a monthly chart with only two days left in April, we note that the S&P 500 (SPX), Nasdaq, and Nasdaq 100 (QQQ) all have traced out huge bullish hammer candlesticks. The monthly intraday low to high on the SPX is about 18%, the largest calendar-month hammer since the March 2009 hammer (which amounted to 24%). That 2009 monthly hammer broke the mega-bear-market caused by the financial crisis (so it's pretty good company). All three of the major indices ran out of gas at/near their falling 10-month exponential moving averages, which is resistance after it is broken. As is common knowledge among chartists, the longer timeframe patterns as well as candlesticks are much more important than shorter timeframes. Sticking with the monthly chart and looking at exponential moving averages (EMA), we have not seen an eight-month EMA/13-month EMA bearish crossover yet. This happened in 2022, 2008, early 2001, 1990, 1987, and early 1982. These long-term crosses can caution about potential downside. But they can take many months of price weakness to occur and therefore are tough to use, as the correction/bear market might be half to three-quarters over. The SPX also remains above the 20-month or middle Bollinger Band. On the weekly chart, we are working on a buy signal as price fell below and then recaptured the lower Bollinger Band. To confirm this signal, we would like to see the S&P 500 retake its falling middle Bollinger Band up at 5,760. So far, the 200-week average has not been breached, which can lead to big trouble. Longer-term momentum, using the 43-week Relative Strength Index (RSI), remains above 45%. That's another positive. (Mark Arbeter, CMT)

Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).