Market Breadth Data******************************

Friday, August 31, 2012

Sp500 and the Fed's Balance Sheet

Putting things in perspective:

SPX and the effect of QE I, QE II, Twist, and QE III ?



And growth of the Fed's balance sheet:


SPY Island Reversal

The end result of Jakson Hole -- SPY island reversal and retest:



Thursday, August 30, 2012

SPX Swing

The SPX down swing is starting right on schedule:



SPY Pivot

The battle for 140.8 rages on:



SP500 Waiting for Godot

Ready for a 1 day large range move:











Meanwhile, market internals have been quietly improving:





Monday, August 27, 2012

Something Has to Give

SP500 has painted itself into a corner, once again:











Oversold market internals give a clue:


Market Symmetry

The case for a close correlation between the two rallies, first suggested almost two months ago, gets stronger:






Friday, August 24, 2012

Best Sp500 Stocks and Industry Groups for 2012

Best stocks and industry groups for the rest of 2012.

Stocks: NVDA, VRSN, CBE, PH, A, ACP, TXT, ETN, DHR, HPQ, CDG, EMR, APH, INTU, SO

Industries (top 10): Farm & Construction Machinery, Application Software, Scientific & Technical Instruments, Independent Oil & Gas, Aerospace & Defense, Beverages, Drug Manufacturers, Personal Computers, Auto Parts, Industrial Equipment

Thursday, August 23, 2012

SPY Test

SPY testing the mid August breakout level:



Market Breadth

Market internals are currently in a down phase and a few days away from being oversold:





Wednesday, August 22, 2012

Saturday, August 18, 2012

OEX Fib Retracement

OEX 100 companies trading at important 1 year fib retracement levels:

61.8%:  DOW

50%:     JPM, SBUX, NIKE

38.2%:  BHI

Example provided by OT Fibonacci:



AAPL Channel Top

AAPL reached the top of the channel again:



Friday, August 17, 2012

SPX Resistance Zone

SPX reaching heavy resistance zone:












while market internals are a day away from being overbought:


SPY Breakout Support

SPY breakout level turned support holding so far:



Thursday, August 16, 2012

Wednesday, August 15, 2012

SP500 Resistance

SPX stalled at the 1408 level once again. Trading just above the pivot line:




SPY Pivot Level

The battle for 140.8 continues for the 7th day in a row:


















while market internals are as oversold as they get:


Tuesday, August 14, 2012

Sp500 Channel

SPX surviving yet another day within the channel and above support:



Bull Market Long in the Tooth

Now that we have Louise Yamada worrying about the longevity of the current market rally, it's time to revisit a very old chart and shed some light on the issue:












And after reviewing the chart it seems that the current rally is par for the course.

Monday, August 13, 2012

Hope in QE III Keeps SP500 Rally Alive

The index bounced off critical support and keeps on target:












1395 remains the level to watch.

The Institutional Index keeps its head above the April highs:



SPX Critical Support

SPX sitting right on critical support:



QE III Target for the SP500

3:37 AM European shares open mostly flat-to-lower following Japan's poor but-still-better-than-Europe GDP data, although losses are being kept in check by hopes of stimulus from China and the U.S. despite skepticism about how much such action would achieve. (Reuters)

The chart below should answer that question:











The target zone ranges from 1500 to 1600, and could be narrowed further down to the blue channel.

Friday, August 10, 2012

Multiple Tops

Multiple tops in SPX:



Weaker Chinese Economy

Slowing Chinese economy and exports may come as a surprise to analysts, but not to traders:



Thursday, August 09, 2012

SPX Grind Higher

SPX grind higher on deteriorating market internals makes it vulnerable to a correction:




SPY Swing

SPY stalling at resistance:



50% Fib Retracement

Stocks trading at one year 50% fib retracement before the open:

BMY, UTX, NVDA, TXN, JPM, GD, NKE

SNDK double top:



















(source: OT Fibonacci)

Wednesday, August 08, 2012

Tuesday, August 07, 2012

SPX Rally Projection

SPX targets based on current channel slope compared to the November '11 - March '12 rally:



SPY Swings

SPY exceeding prior upswings:



Monday, August 06, 2012

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