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

Thursday, June 30, 2016

$SPY Risk on, All in

The message is very clear, risk is on, all are in. In fact, the overbought/oversold readings for all three averages (DJIA, NDX and SPX) are eerily reminiscent of the pattern in mid February '16:





Wednesday, June 29, 2016

$SPY Pattern and Trend

Both SPX and Russell 2000 expected to break even for the year at the open:



Tuesday, June 28, 2016

$SPY Pattern and Trend

On prior occasions, oversold conditions of such magnitude have lead to good buying opportunities:









Beware the second dip, however.

Friday, June 24, 2016

$SPY Brexit and Trend

Despite the huge volatility following the exit vote, the SP500 continues bouncing between the angles:


Thursday, June 23, 2016

$SPY and Brexit

There are many guesses about today's Brexit vote result but our focus will be on market internals and the story they tell. Big money, both on NYSE and on NASDAQ, started pulling out at the beginning of June. Despite the fact that the indices stopped declining mid June, market breadth continued to deteriorate:














Market sentiment, however, has improved considerably and suggests that speculators are expecting a no-exit vote. This points to a short-term sell the news scenario, which is to follow a brief euphoria following a presumptive "Remain" vote, as the most likely outcome





Tuesday, June 21, 2016

$SPY Pattern and Trend

The SPX index is demonstrating a tendency to get pinned by the angles:













Ditto for the Qs:













and for the Russell 2000:


Monday, June 20, 2016

$FANG Channel and Trend

The FANGs (FB, AMZN, NFLX and GOOG) are starting the week just 1% below their all time high:


Friday, June 17, 2016

$SPY Decision Time

The index has managed to paint itself into a corner, once again, but can't stay trapped between the angles too long:


$SPY Trend and Resistance

Time-wise, the rebound arrived on schedule, and the Market Barometer is rebounding from oversold levels:












The SPX futures, however, are facing heavy resistance in the 2082 - 2086 zone:


Wednesday, June 15, 2016

$SPY Pattern and Trend

The downswing has matched the average daily swing duration for the SP500.  The futures point to an inside day so far but all eyes are on the Fed and the conclusion of their two day meeting. Price needs to break 2082 to signal a reversal:






















Market breadth is neutral:



Monday, June 13, 2016

$SPY Pattern and Trend

The next angle support is at 2060 and below that at 2035:


the corresponding level for the Qs is at 104:


Saturday, June 11, 2016

$SPY Price Matrix

The SP500 came within 5 points of our first upside target for the year and dropped to a support angle:














The Qs, after breaking below the confluence of support angles mentioned three days ago, are leading on the way down:


Friday, June 10, 2016

$SPY Pattern and Trend

The major indices have flatlined since market breadth peaked:




Wednesday, June 08, 2016

$QQQ Crunch Time

Make or break time for the Qs, testing a confluence of support angles:


Sunday, June 05, 2016

$QQQ Trend Sustainability

NASDAQ market breadth is leading NYSE but reaching short-term overbought levels:















Saturday, June 04, 2016

$SPY Pattern and Trend

Until 214/2140 Sp500 gets broken to the upside, the bears should be given the benefit of the doubt:


























Wednesday, June 01, 2016

$SPY Pattern and Trend

The SP500 is trying hard to keep up with the Feb '16 angle:



Resistance @ 21111, support @ 2040.

Trading Books