From 0 to 100, or from oversold to overbought, in three days:
Weekly sentiment, however, remains at 0:
Market Breadth Data******************************
Friday, December 28, 2018
Monday, December 24, 2018
SPX Market Update
US regulators see nothing out of the ordinary in the markets and, technically, they are correct since NYSE and NASDAQ have only equaled, but not exceeded yet, the longest streak of 8 negative market breadth days:
They may have plenty of opportunity to do so after Xmas.
They may have plenty of opportunity to do so after Xmas.
Friday, December 21, 2018
SPX Price and Time Targets
An average correction lasts 17 months and would lead to a drop to 2100. This is also consistent with the range projection for 2019 (red vertical line).
Similar to what happened in 2000 and 2008 on a per point basis. A drop of similar magnitude, in percentage terms, gives a low target of 1800 (red horizontal line).
Monday, December 17, 2018
SPX Pattern and Trend
SPX found support at the February low, completing a symmetrical rectangle:
and closed on the weekly downside target:
and closed on the weekly downside target:
Friday, December 14, 2018
Weekly Targets Update
SPX closed $1.5 above the lower weekly target:
Oil closed on the lower weekly target:
USDJPY tested the upper weekly target on Thursday and Friday:
EURUSD found support at the lower weekly target:
GBPUSD found support at the lower weekly target before breaking below in the final hours of trading:
AUDUSD sold off from the upper weekly target last week to the lower target this week:
Oil closed on the lower weekly target:
USDJPY tested the upper weekly target on Thursday and Friday:
EURUSD found support at the lower weekly target:
GBPUSD found support at the lower weekly target before breaking below in the final hours of trading:
AUDUSD sold off from the upper weekly target last week to the lower target this week:
Thursday, December 13, 2018
NYSE and NASDAQ Market Breadth
After peaking on Sept. 24th. NYSE market breadth is at a critical juncture, testing the Oct 29th. low level:
NASDAQ market breadth peaked on August 31st and bottomed on October 29th:
NASDAQ market breadth peaked on August 31st and bottomed on October 29th:
Friday, December 07, 2018
SPX Key Technical Levels
The SPX is exhibiting great sensitivity to all key technical levels, including the lower weekly target:
Tuesday, December 04, 2018
SPX Daily Sell Signal
After we wrote this morning that a drop below 2767 will trigger a retest of the Monday rally:
we're glad we got the post-factum explanation and geek translation courtesy of ZH.
The following is definitely a keeper:
"again deleveraging massive notional in long US Equities expressions across SPX, RTY and NDX live"
we're glad we got the post-factum explanation and geek translation courtesy of ZH.
The following is definitely a keeper:
"again deleveraging massive notional in long US Equities expressions across SPX, RTY and NDX live"
Monday, December 03, 2018
Sunday, November 18, 2018
SPX Buying Pressure Update
Buying pressure bottomed on Nov 15th as expected:
This has short-term bullish implications for the SPX.
This has short-term bullish implications for the SPX.
Thursday, November 08, 2018
SPX Buying Pressure
Buying pressure has reached peak levels just before the FED announcement on interest rates:
At the current rate it will need 4 days to get oversold again.
At the current rate it will need 4 days to get oversold again.
Monday, November 05, 2018
Weekly Targets for SPX, Gold, Oil and G6
The weekly targets are available here
SPX direction to be determined by a break outside of Friday's range:
SPX direction to be determined by a break outside of Friday's range:
Saturday, October 20, 2018
SPX Pattern and Trend
Using the SPY as an example, whenever there was a sell-off this year, the first swing low was followed by a lower low before the uptrend continued:
Wednesday, October 17, 2018
Friday, October 12, 2018
Market Breadth
For the third time this year market breadth fell to extreme oversold levels:
NDX is the first to exhibit cautionary signs of strength.
NDX is the first to exhibit cautionary signs of strength.
Saturday, October 06, 2018
Thursday, October 04, 2018
Tuesday, October 02, 2018
Saturday, September 29, 2018
Friday, September 28, 2018
SPX Pattern and Trend
There's strong symmetry between the first and the last waves and, based on that, a speculative projection can be made:
Monday, September 24, 2018
Weekly Target Updates
The weekly target updates for SPX, Gold, Oil and G6 are out:
The SPX is moving on schedule to reach the year-end high target.
The SPX is moving on schedule to reach the year-end high target.
Sunday, September 16, 2018
Monday, September 10, 2018
Thursday, September 06, 2018
SPX Pattern and Trend
In classic TA fashion, following the August break-out to new highs, the SPX is testing the Jan '18 high:
Sunday, August 26, 2018
Monday, August 13, 2018
SPX January Top Chart
So far, 2018 is showing a high 75% correlation with years with a January high:
Red line is the average for the years when the index topped in January.
(Chart courtesy of OT Seasonal and Gann 9)
Red line is the average for the years when the index topped in January.
(Chart courtesy of OT Seasonal and Gann 9)
Sunday, August 12, 2018
Saturday, August 04, 2018
Tuesday, July 31, 2018
SPX Pattern and Trend
The futures starting the day in no man's land: between the 2785-2800 support zone and the CIT Cloud at 2815:
Sunday, July 29, 2018
Tuesday, July 24, 2018
Friday, July 13, 2018
Tuesday, July 10, 2018
Market Breadth
For the fourth time this year DJIA, NDX and SPX market breadth readings have reached max/overbought levels:
Friday, July 06, 2018
SPX Pattern and Trend
The index is at an important junction. Just when resistance at 2740 is being tested, market internals are getting overbought:
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