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

Friday, May 29, 2015

$SPY Pattern and Trend

SPY ended the week inside the Tuesday - Wednesday box, which will continue to define the bullish/bearish parameters for next week:

The Qs managed to stay above the 50% retracement level:

The industrials barely closed above the Tuesday low, while the transports continue selling off:

Thursday, May 28, 2015

$SPY Pattern and Trend

SPY closed just above the breakout level and above the SAR angle; ahead of Friday's GDP numbers release market breadth remains oversold:

Wednesday, May 27, 2015

$SPY Market Internals and Trend

The bounce off support and the break above the box are all positive developments. Market internals remain oversold and should provide enough fuel for an end-of-month run:

Tuesday, May 26, 2015

$SPY Pattern and Trend

SPY sliced through the SAR Angle and the breakout level and hit the first Hurst 210.5 support level; the next one is at 209.8:

Market breadth was at record lows and market internals have dropped in oversold territory.

Friday, May 22, 2015

$SPY Pattern and Trend

The rolling correction continues with the index consolidating above the breakout level accompanied by weakening momentum and in the midst of a bearish natural cycle:

$SPY Rolling Correction

Yesterday's action served to confirm our rolling correction hypothesis:

Thursday, May 21, 2015

Wednesday, May 20, 2015

$QQQ Picture of Indecision DJIA/DJT

The Qs painted a doji, the picture of indecision among Japanese candlesticks. The close was right in the middle of the short channel, and just above angle support and the trailing stop-loss level. All this was accompanied by weakening momentum.

So far, this is shaping up as a rolling correction (during which market internals readjust but price remains in a trading range). Should support get broken, however, things can get ugly quickly:

On a side note, it was a bad day for the transports, which made a new low:

while the industrials are struggling to keep the uptrend alive.

Tuesday, May 19, 2015

$QQQ Trend and Momentum

The daily trend is still up, but momentum is quietly fading:

$DIA Trend and Support

The major averages (DIA, SPY, QQQ) continue to trade above their respective SAR angles:

Monday, May 18, 2015

$SPY Angles and Trend

SPY continues grinding higher, making new highs and holding above the SAR angle:

Sunday, May 17, 2015

$GS Top Options Trading

Top stocks for swing and options trading: GS, TXT, NVDA, GOOGL, AVP, BBY:

Selected on the basis of above average swing duration and price % moves compared to the universe of stocks from the major averages.

Saturday, May 16, 2015

$QQQ Cycles and Trend

Next week is when the rubber meets the road as the bullish phase of the natural cycle comes to an end:

and most of those who wanted to get in are long already:

Thursday, May 14, 2015

$DJIA Performance Review

The industrials closed within a few points from the March 2 high.
Out of the 30 components, 13 are trading higher, with MSFT leading the pack:

and 6 are trading in the middle of their March - May range: UNH, AAPL, XOM, MCD, UTX, MMM

The transports, however, are still trading at the bottom of their '15 range:

$SPY Trend Update

After all the wild gyrations during the past few days, the gaps and the fills, SPY has quietly realigned with the 1 x 1 uptrend angle as it's nearing the end of the bullish natural cycle, and the top of the '15 range:

Wednesday, May 13, 2015

$SPY Angles and Trend

Make or break time for SPY, trading at the intersection of  SAR angles:

$SPY Pattern and Trend

The major averages filled Friday's gap on Tuesday, and after two days of  low breadth readings, are ready to resume last week's upswing:

Tuesday, May 12, 2015

$SPY Abandoned Baby Alert

In the pantheon of Japanese candlestick patterns, Abandoned Baby is the Mona Lisa:

$DJIA Pattern and Trend

The last time the DIA/DJIA traded in such a tight range for such a long time was in '05 & '06, and before that in '92 & '93:

Monday, May 11, 2015

$SPY Angles and Trend

Extremely high breadth readings, like the one reached on Friday, can rarely be achieved two days in a row.

The market needs time to digest the big jump. Both the cycle and the swing indicators are pointing up. 1 x 1 angles show support/resistance and reversal levels:

Sunday, May 10, 2015

$QQQ Cycle and Trend

Both cycle and swing indicators are pointing up:

Correctly drawn 1 x 1 angles clearly identify stop/loss and reversal levels:

Thursday, May 07, 2015

Wednesday, May 06, 2015

$SPY Pattern and Trend

SPY continues trading within the box following the same swing degree pattern:

Tuesday, May 05, 2015

$SPY Pattern and Trend

SPY trying hard to find support around the 50% retracement:

Failure to do so will trigger a retracement of Friday's candle.

Monday, May 04, 2015

$SPX Pattern and Trend

Make or break time for the SP500 currently re-testing the top of the box and previous highs:

Saturday, May 02, 2015

$SPY Retracement Levels

After breaking above 210 in afternoon trading, the SPY has only one hurdle left at 211.5 before reaching for the April all time highs:

Since the rebound is starting from oversold levels, there's no reason why this goal can't be achieved:

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