For a break out to occur the Bulls should be able to exceed 75%:
Not a gimme with the US presidential elections in November.
Elections notwithstanding, the SP500 continues to follow the seasonal pattern:
Market Breadth Data******************************
Saturday, September 24, 2016
Wednesday, September 21, 2016
$SPY Post-FOMC Analysis
Just when the SP500 and related indices broke back within the consolidation zone, market breadth is reaching overbought levels. This usually precedes a sideways/down phase necessary for the market to catch its breath :
Next calendar CIT September 28th.
Resistance at the ATH
Next calendar CIT September 28th.
Resistance at the ATH
Tuesday, September 20, 2016
Saturday, September 17, 2016
$SPY Pattern and Trend
SPY broke again below the daily trend bars at the close on Friday:
Ditto for the weekly and monthly:
212 remains a must hold level.
The trend turns positive again above 214.
The next Calendar CIT is Sept. 19th.
Ditto for the weekly and monthly:
212 remains a must hold level.
The trend turns positive again above 214.
The next Calendar CIT is Sept. 19th.
Thursday, September 15, 2016
Wednesday, September 14, 2016
Saturday, September 10, 2016
$SPY January or July
In January, when everybody ran for the exits, it took the major indices almost half a month to find a bottom:
In July, it was a 2 day affair.
weekly channel support @2090.
The next calendar CIT is September 19th.
The seasonal weak period ends in three weeks.
In July, it was a 2 day affair.
weekly channel support @2090.
The next calendar CIT is September 19th.
The seasonal weak period ends in three weeks.
Thursday, September 08, 2016
$SPY Trend and Sentiment
There's a notable lack of conviction and enthusiasm, all around, despite the fact that the major indices are trading near their highs:
Wednesday, September 07, 2016
Saturday, September 03, 2016
$SPY Angles and Trend
The SP500, while trading in a box, has managed so far to keep above key support angles:
despite anemic market breadth readings:
despite anemic market breadth readings:
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