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

Saturday, October 21, 2017

$SPY Pattern and Trend

Strong momentum propelled the futures to new highs on Friday:

Weekly channel upside target at 2580, Sq9 support/resistance levels at 2550/2595.
Pivot line at 2560.

SPY painted a classic hammer candlestick and, time-wise,  the current upswing is getting overextended, showing some similarities with Feb-Mar '17:

Wednesday, October 18, 2017

$SPY Pattern and Trend

So far, short opportunities have been few and far between in 2017, and shallow pull-backs have presented better long entry points:

Tuesday, October 17, 2017

$DIA Momentum

DJIA quarterly momentum readings going back to 1950:

The historical perspective shows that momentum can run strong for prolonged periods of time.

Saturday, October 14, 2017

$SPY Pattern and Trend

The index came within a quarter of a point from our weekly upside target of 255.5, and the trend remains up:

Next week's upside target is 256, pivot line at 254.65

Market breadth has hit rock bottom which, after the bottoming process is done, usually precedes higher prices:

Wednesday, October 11, 2017

Tuesday, October 10, 2017

$SPY Pattern and Trend

The week started with a third inside day (compared to Wednesday, 10.4.17), with the index trading above the trend-line and pivot bars:

For swing traders, the High and Low of 10.4.17 define the short-term long/short breakout levels to watch.

Sunday, October 08, 2017

SPY Pattern and Trend

The week finished with an inside day, slightly exceeding the upside target. The daily trend remains up, the new upside target moved to 255.5:

The pivot line is at 253, and support at 251.

There are signs of weakening in trend and momentum readings:

Bullish sentiment decreased slightly despite rising weekly prices:

Thursday, October 05, 2017

SPY Pattern and Trend

Despite lingering concerns about market breath, the futures continue trading above the channel and are pointing to a higher open:

Channel support at 2535.

Wednesday, October 04, 2017

$SPY Pattern and Trend

The negative divergence, developing between price and market breadth after a prolonged upswing, should be a reason for concern:

Saturday, September 30, 2017

$SPY Pattern and Trend

A true breakout or end of quarter window dressing ?

We'll have the answer next week.

For the time being, the trend remains up, and the upside weekly target moved to 253.5
Pivot line at 249.7, support at 249 and 247.4.

Market sentiment remains positive, currently approaching overbought levels:

Trend and momentum readings are maxed out:

Saturday, September 23, 2017

SPY Pattern and Trend

After being pinned to the top for six straight days, with little to show for, in terms of price gains, Trend and Momentum are taking a well deserved breather:

while VIX continues racing to the bottom.

Key support at 2490.
Daily pivot at 2495, weekly at 2470.

Wednesday, September 20, 2017

SPY Pattern and Trend

The index is pushing on a string waiting for the Fed and the tax reform proposal, which is keeping downside pressure in check:

The daily pivot line is at 2499 with two unfilled gaps underneath. The trend and momentum readings continue to be maxed out.

Sunday, September 17, 2017

$SPY Pattern and Trend

The index finished opex week pinned at its first upside target of 250/2500:

The combined trend and momentum readings are at their maximum level suggesting that a sideways/down phase is to follow:

Daily pivot @ 2495, weekly @ 2492.
All eyes on the FED.

Tuesday, June 13, 2017

$SPY Pattern and Trend

If the symmetry continues to hold, expect a swing low mid September, and rally until April/August '18:

SPX price target 2500 - 2510.

Monday, June 12, 2017

$QQQ Pattern and Trend

The Qs found support at the 50 dma and the % decline is consistent with previous corrections in an uptrend:

Sunday, June 11, 2017

$QQQ Pattern and Trend

The uptrend hasn't been broken yet, as the Qs declined exactly to the 50% retracement of the last upswing:

This was a good example, however, of what to expect once everybody rushes for the exit at the same time.

Friday, June 09, 2017

Thursday, June 08, 2017

$SPY Pattern and Trend

The index is at a critical juncture, deciding whether to stay with the current and, eventually, retesting the lower channel line, or accelerating upwards and establishing higher support/resistance levels:

Wednesday, June 07, 2017

$SPY Pattern and Trend

The SPX is testing the breakout channel, trading below the 1 x 1 angle

Sunday, June 04, 2017

$DIA and Bull Rallies

Since the DJIA made a new high last Friday, here's an update of the historical rallies table:

The current rally is 375 days short of the longest rally in history, and ranks #5 in terms of % gain.

Only two rallies out of 28 have topped in May or June.

Friday, June 02, 2017

$SPY Waves, Momentum and Trend

Daily market breadth suggests that the sideways/down phase is over, and there's plenty of upside potential left:

Also, the short-term upswing exceeded the length of the preceding downswing, meaning that we are currently in week 30 of the larger trend which remains up:

This is the latest leg of the bullish wave pattern which started in 2009:

From this perspective, we've already exceeded the length (58 weeks) of the first leg of that pattern.

Wednesday, May 31, 2017

$SPY Pattern and Trend

Gap fill #7 complete:

although that doesn't automatically mean clear sailing ahead unless key support @2400 holds.

Friday, May 26, 2017

$SPY Pattern and Trend

The SPX is spilling out of the 30 min channel:

while the Russell 2000 is having trouble breaking even above the 50% retracement of the April-May range:

Thursday, May 25, 2017

$SPY Pattern and Trend

New highs, top of the channel tag, and a new Gap #7 in the making:

$SPY Momentum and Trend

The moment we've all been waiting for: a retest of top range resistance

Tuesday, May 23, 2017

$SPY Pattern and Trend

All are in, and virtually every stock from the SPX is on a buy signal:

just when the index is tagging the upper consolidation line:

$SPY Pattern and Trend

Gap 6 was filled. The index remains on trend but still below the upper consolidation level:

Saturday, May 20, 2017

$SPY Pattern and Trend

The gap has been filled, and the index trades above the 50 dma once again:

The question now is whether the SPX can maintain its upward trajectory, or whether the top of the range will act as resistance one more time (preferred scenario).

Wednesday, May 17, 2017

$SPY Pattern and Trend

It wasn't different this time either. All 5 gaps got filled:

The break below support at the 50 dma puts the bottom of the consolidation zone in play.

$SPY Pattern and Trend

It looks like the first gap is about to get filled:

Support at the 50 dma.

Monday, May 15, 2017

$SPY Pattern and Trend

It seems like the bots are not willing to let the breakout happen just yet:

It would be interesting to see how it plays out since market internals are turning up from oversold levels:

$SPY Pattern and Trend

All of last week's price action looks like a bull flag in the making:

Saturday, May 13, 2017

$SPY Bulls and Bears

The Bulls/Bears ratio continues hovering around 50%:

From a longer-term perspective, the index continues squaring the 1 x 1 2008 angle:

Friday, May 12, 2017

Wednesday, May 10, 2017

$SPY Pattern and Trend

2400 has proven to be formidable resistance for the SPX. Until resistance is broken decisively to the upside, the gap and the 50 dma continue to be in play:

Friday, May 05, 2017

$SPY Gap and Trend

The index seems ready to explode higher, despite the unfilled gap:

Internals went through a rolling correction, while price remained flat, and now favor a sideways/up move:

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