Weakening market internals couldn't support a break above the gap zone and channel resistance:
Market Breadth Data******************************
Friday, June 28, 2013
SPY Gap Zone
SPY breaking out of the gap zone for the second time in the last couple of days:
Unlikely to break above the channel on neutral market breadth readings.
Unlikely to break above the channel on neutral market breadth readings.
Thursday, June 27, 2013
Wednesday, June 26, 2013
DJIA Channel
Unlike the SPX, the DJIA hasn't reached the top of its '09 weekly channel and hasn't even challenged the breakout above the 2007 high:
Tuesday, June 25, 2013
SPX Resistance
SPX testing key resistance level:
Anything below 1594 qualifies only as a dead cat bounce, and bulls are still on the defensive:
Anything below 1594 qualifies only as a dead cat bounce, and bulls are still on the defensive:
Monday, June 24, 2013
IWM Support
IWM bouncing off key support line:
The SPX Buy/Sell indicator matched its lowest reading since January 2000:
and the Overbought/Oversold indicator is scraping the bottom:
The SPX Buy/Sell indicator matched its lowest reading since January 2000:
and the Overbought/Oversold indicator is scraping the bottom:
Bull/Bear Shift
Bulls start the week in a defensive position within their own field. They will regain control at the 1593 level:
Saturday, June 22, 2013
Thursday, June 20, 2013
SPX Targets
On a per point basis, the SPX had a run commensurate with previous rallies. A similar decline targets 1566 and 1536:
Wednesday, June 19, 2013
SPX Channel and AAPL
As mentioned before, the FED will find it harder and harder to keep all the plates spinning in the air. The trendline has been tested 5 times already, and with every test becomes more and more vulnerable for a break:
In the meantime, AAPL is testing important support line of its own:
In the meantime, AAPL is testing important support line of its own:
Tuesday, June 18, 2013
SPX and IWM
While a case can be made that the SPX is starting a new uptrend channel:
IWM hasn't broken out of the downtrend channel yet:
IWM hasn't broken out of the downtrend channel yet:
Monday, June 17, 2013
Friday, June 14, 2013
SPX Channel
Despite a very strong day yesterday, SPX unable to follow through and break out of the down-sloping channel:
Thursday, June 13, 2013
Wednesday, June 12, 2013
Tuesday, June 11, 2013
SPX, QQQ and IWM Channels
SPX trading back within the channel:
while Qs finished the day on the channel line:
while Russell remains well within the confines of two channels pointing in opposite direction:
while Qs finished the day on the channel line:
while Russell remains well within the confines of two channels pointing in opposite direction:
Monday, June 10, 2013
Friday, June 07, 2013
Thursday, June 06, 2013
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