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

Sunday, December 18, 2016

$SPY and $QQQ Trading Parameters

SPY and QQQ long/short trading parameters for the current week, assuming no sudden changes in volatility.

SPY upside targets: 227.7 and 228.8; downside support at: 222.9 and 221.7, pivot at 225.8, risk/reward: 53%

QQQ upside targets: 121.4 and 121.9; downside support at: 118.2 and 117.3, pivot at 120, risk/reward: 66%:

Saturday, December 17, 2016

$SPY Seasonal Pattern

The SP500 continues following the seasonal pattern, and after the sideways/down phase projected for the past week, is entering one of the most consistently bullish weeks of the year. Therefore, the expectation is for a sideways/up phase to follow:

Resistance at 2280, closest support level at 2145.

Thursday, December 15, 2016

$SPY Swing Pattern and Trend

The SP500 continues following the swing pattern from the previous two rallies:

Immediate support at 2245, resistance at 2280.
The average duration of the last two upswings was 40 days, or the end of 2016.

Sunday, December 11, 2016

$SPY Seasonality

From a seasonal point of view, next week is one of the weakest, and the week after one of the strongest of the year. The SP500 has advanced exactly 900 degrees up from the February lows and is perfectly balanced price and time wise, suggesting that a short-term sideways/down phase is to be expected:

Saturday, December 10, 2016

$SPY Pattern and Trend

As mentioned a month ago, a break above resistance at 2180 opens the door for a higher swing and year-end price target:

2213 and 2180 become support now.

Friday, December 09, 2016

FANG Channel and Trend

The FANG's rallied on cue, and the longevity of the NDX bull run will depend to a large extent on their ability to keep pushing against the upper channel line:

For daily FANG updates please check bottom of the page.

Tuesday, December 06, 2016

$SPY Bulls and Bears

Unless there is a sharp and immediate drop, the bears may be in trouble, as market breadth is oversold, and showing tentative signs of improvement:

Even the FANGs, after a three wave decline, seem to have found their footing and are gathering strength:

Sunday, December 04, 2016

$SPY Pattern and Trend

The SP500 continues following the bullish angle:

Resistance at 2214, support at 2180.

Weekly liquidity shrunk but remains positive:

Friday, December 02, 2016

$SPY Swing Target

The average swing target for the SP500 is 2173, just below the next support level of 2180:

Thursday, December 01, 2016

$SPY Angles and Trend

The SP500 stalled precisely at the 1 x 1 angle:

Closest support levels at 2193 and 2180.
Resistance at 2214.

Tuesday, November 29, 2016

$SPY Pattern and Trend

For the bulls, 2193 and 2180 remain key SP500 support levels to keep an eye on:

Weekly and daily channel resistance at 2210.

Friday, November 25, 2016

$SPY Swing Comparison

The comparison between the current SP500 upswing and recent rallies suggests that despite trader's uneasiness with the longevity of the post-election rally, there may be a lot more upside left.

Especially, if the August '16 highs turn into long-term support.

The average of the February and June rallies is 40 days which, when projected forward, points to the end of '16.

Wednesday, November 23, 2016

$SPY and Liquidity

Liquidity analysis shows that following a period of post-election exuberance, caution is prevailing at this point. Those who bailed in the middle of the rally will be left waiting for an entry point:

The FANGs are at the early stage of a third wave down (see bottom of the page)

$SPY Pattern and Trend

The weekly swing target offering some resistance as expected:

Next resistance level @ 2230.

Tuesday, November 22, 2016

$SPY Trend and Target

The SP500 continues to follow the 2 x 1 angle and remains perfectly balanced price and time wise:

Sunday, November 20, 2016

Friday, November 18, 2016

$SPY Caution Going Forward

The daily upswing is getting long in the tooth and has reached the 2 x 1 angle target. This warrants caution going forward:

For short-term swing traders the reversal zone is 2175 - 2180:

Wednesday, November 16, 2016

$SPY Decision Time

The SP500 is at a critical juncture wedged between the bullish angle, which ultimately points to a 2240 year-end price target, and long-term resistance at 2180:

Tuesday, November 15, 2016

FANG Pattern and Trend

The FANGs remain unwilling to join the Trump rally and continuing the down-slide:

Friday, November 11, 2016

$SPY Short and Long Term

The daily SPX is still following the bullish angle with resistance at 2180:

The monthly chart points to a much higher target for 2017/2018 which, however, is very consistent with average yearly gains for the index:

FANG Post Election Jitters

The FANGs took a big hit along with the Qs yesterday, and remain in a down-trend:

For daily chart updates see bottom of the page.

Wednesday, November 09, 2016

$SPY Pattern and Trend

The SP500 has caught up with the bullish angle once again:

$SPY Election Surprise

Despite the election shocker, the weekly lower channel proved to be an excellent long entry point for the Dec. futures:

Sunday, November 06, 2016

$QQQ Pattern and Trend

Friday marked the 9th day of consecutive declines for the Qs. In their history, there have been only two other consecutive declines of similar duration or longer.

Therefore, it's worth repeating what we observed at the beginning of the year following a 7 day consecutive decline:

Here's what happened following those rare uninterrupted declines lasting seven days or longer:
7-day decline ending Jan 30, 1990, followed by a 12-day 6.28% rally
7-day decline ending Nov 12, 1997, followed by a 12-day 10.12% rally
8-day decline ending May 18, 2006; the swing bottom came in 3 days later, and the Qs bounced up for 6 days and a 3% gain.
8-day decline ending June 13, 2006, followed by a 2-day rebound and a gain of 3.75%. The market bottomed a month later.
7-day decline ending Sept. 9, 2008, followed by a 2-day rebound, 2.7% gain.
8-day decline ending Oct 10, 2008, followed by a 1-day 12% rebound. The index bottomed a month later on Nov 20th.
11-day decline ending July 2, 2010, followed by a 8-day 7.3% rally
9-day decline ending May 18, 2012, followed by a 6-day 3.37% rally. The index bottomed three days later.
That's a 6-day 6% bounce average.

Friday, November 04, 2016

$SPY Pattern and Trend

Price and time are almost perfectly balanced ahead of the jobs report:

Thursday, November 03, 2016

Wednesday, November 02, 2016

$SPY Pattern and Trend

The SP500 continues sliding along the bottom of the down-sloping channel:

while daily market internals are reaching oversold extremes.

No change in support/resistance levels.

Time-wise, price is approaching a cycle through:

$SPY Pattern and Trend

After support at 2120 failed shortly after the open, the SP500 bounced off the next, lower support level:

Lower support at 2075,  resistance at 2120 and 2150.

Tuesday, November 01, 2016

$SPY Pattern and Trend

Very tepid reaction following the bounce from support so far.

However,there's plenty of room and time for an upside follow through since daily market internals are just getting oversold:

SPX support at 2120, first resistance at 2150.

Friday, October 28, 2016

$SPY Pattern and Trend

Both weekly and monthly bulls holding at above 50% for the SP500:

Wednesday, October 26, 2016

$GS Channels and Trend

GS is at an important inflection point, testing key channel resistance and angle support at 175.5:

$SPY Pattern and Trend

The SP500 continues holding onto the same upswing angle:

Sunday, October 23, 2016

$SPY Pattern and Trend

SPY with equidistant support levels showing support around 212:

Saturday, October 22, 2016

$SPY Pattern and Trend

SP500 still clinging onto the upswing angle:

and following the seasonality trend:

Tuesday, October 18, 2016

$QQQ Pattern and Sentiment

The Qs are testing key resistance level and showing signs of improving market breadth:

The SP500 continues hugging the uptrend angle and bouncing between our year-end channel targets:

Terms of Use

All rights reserved by the author. The material contained herein is original content and is the sole property of the author. Any commercial use or reproduction - either in part or whole - is strictly forbidden without the author's prior consent.

Disclaimer: The information provided here is for educational purposes only and does not constitute trading advice nor an invitation to buy or sell securities. The views are the personal views of the author. Before acting on any of the ideas expressed, the reader should seek professional advice to determine the suitability in view of his or her personal circumstances.