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

Friday, April 29, 2016

$QQQ Pattern and Market Breadth

Angle support broken and market breadth turns bearish. Next support zone 104 - 105:




Thursday, April 28, 2016

$SPY Trend and Kuroda

Can Kuroda succedd where MSFT, GOOG and AAPL failed ? Namely, in pushing the SP500 below 2080 support :


















If that's not the case, then the odds favor a month-end rally.


Wednesday, April 27, 2016

$AAPL and $QQQ Trend

The Qs are projected to find support at the lower angle following APPL's dismal results:













In the meantime, the SPX futures are stalling ahead of the FED meeting, trading above 2080 support. The narrowing of daily range suggests a big move is coming:


Monday, April 25, 2016

$SPY and Election Cycle

Although the election landscape is very different from four years ago, a case can be made for a 100 week cycle:


$SPY and FED Meetings

The major indices have a history of advancing immediately prior to a FED meeting, suggesting that any weakness today should be bought:


Saturday, April 23, 2016

$FXY Powerful Breakout

The USDJPY pair had a powerful breakout above previous triple bottom support levels in anticipation of Kuroda's next move. Next resistance zone @ 114-115, support between 110.5 and 111:












(Source TradingView)

Friday, April 22, 2016

$SPY Pattern and Trend

A perfect bull flag in the making following revived expectations for global QE:


















Support for the futures in the 2065-2075 zone.
Resistance @ 2130 & 2140


















Thanks to dismal results from MSFT and GOOG the Qs continue to underperform:














Thursday, April 21, 2016

$SPY Gap and Trend Update

SPY shows support @207 coinciding with a small gap waiting to get filled:


Wednesday, April 20, 2016

$SPY and $QQQ Trend Update

The major indices continue following a similar pattern. The SP500, DJ30 and Russell 2000 are making new highs:














while the Qs remain stuck in the gap zone:













and sentiment is off the charts bullish:


Tuesday, April 19, 2016

$SPY and $QQQ Trend Update

The SPX continues to climb the proverbial wall of worry, holding onto the 1 x 1 angle, where price and time are balanced:













while the Qs are stalling within the gap zone:













with support @ 104.

Monday, April 18, 2016

$SPY Pattern and Trend

The SP500 hit the 2092 price target right on schedule:













2115 and 2135 become the next upside targets and resistance levels.

Sunday, April 17, 2016

$DIA Crash Pattern and Trend

Remaining within the channel and breaking above resistance is of paramount importance for the bulls; channel support @ 17350:













Ditto for the SPX:













and the Qs:













not to mention the Russell 2000, channel support @107:




Friday, April 15, 2016

$SPY Pattern and Trend

The SP500 is still holding onto the 1 x 1 angle:













First support at the breakout level of 2065.


Thursday, April 14, 2016

$SPY Pattern and Sentiment

A new high for daily Bullish sentiment, a lower high for the SPX:


Wednesday, April 13, 2016

$SPY Pattern and Trend

The SP500 continues to follow the 1 x 1 angle and is on track for a textbook 2092 target:


Monday, April 11, 2016

$SPY Price Structure

Price structure for the SP500 continues to deteriorate and slowly roll over, but it hasn't broken below key support yet:


















Support @ 2035 and 2018, resistance @ 2070 and 2080.
It should be noted that there is a third inside day in the making for the futures, and in these situations it pays to play the breakout.

Saturday, April 09, 2016

$SPY Bulls and Bears

The Sp500 daily Bullish/Bearish ratios don't inspire much confidence right now:












the weekly numbers are about evenly matched:











which explains the recent sideways action.

Thursday, April 07, 2016

$SPX Pattern and Trend

As mentioned before, only a decisive break above 2130 will turn the technical outlook bullish. Meanwhile, the battle for the 1 x 1 up angle continues:



$SPY Price Structure

While the daily trend remains up, the SP500 price structure is showing preliminary signs of deterioration usually associated with trend exhaustion and preceding a roll over:


Tuesday, April 05, 2016

$SPY Pattern and Trend

The real concern for the bulls is a break below the green angle:


$DIA Trend and Support/Resistance Levels

Just like the SP500, the DJ30 is bumping against key resistance levels:


Sunday, April 03, 2016

$SPY Support Resistance Levels

The importance of breaking above resistance at 2095 and 2155 cannot be overstated:



Saturday, April 02, 2016

$SPY Trend and Sentiment

The SP500 managed to hold on to the up angle following a relatively rare double outside day (it happens on average 2-3 times a year) and is within 1% of major resistance:













Early in an uptrend such a pattern is quite bullish;
not so after a prolonged uptrend.
The same goes for DIA and the Qs.

Weekly sentiment remains overbought:


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