although that doesn't automatically mean clear sailing ahead unless key support
Market Breadth Data******************************
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.
although that doesn't automatically mean clear sailing ahead unless key support
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:
while the Russell 2000 is having trouble breaking even above the 50% retracement of the April-May range:
Thursday, May 25, 2017
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:
just when the index is tagging the upper consolidation line:
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).
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.
The break below support at the 50 dma puts the bottom of the consolidation zone in play.
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:
It would be interesting to see how it plays out since market internals are turning up from oversold levels:
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:
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:
Internals went through a rolling correction, while price remained flat, and now favor a sideways/up move:
Wednesday, May 03, 2017
$QQQ Pattern and Trend
The last time the Qs traded above the 50 dma for such an extended period of time was in 2010-2011:
After the index broke below the 50 dma in March 2011, it entered a prolonged period of consolidation which lasted until 2012.
After the index broke below the 50 dma in March 2011, it entered a prolonged period of consolidation which lasted until 2012.
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