Angle support broken and market breadth turns bearish. Next support zone 104 - 105:
Market Breadth Data******************************
Friday, April 29, 2016
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.
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:
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)
(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:
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
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:
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.
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.
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:
Ditto for the SPX:
and the Qs:
not to mention the Russell 2000, channel support @107:
Friday, April 15, 2016
Thursday, April 14, 2016
Wednesday, April 13, 2016
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.
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.
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:
Wednesday, April 06, 2016
Tuesday, April 05, 2016
Sunday, April 03, 2016
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:
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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