Many people are wondering when the bottom will be in. Twitter pundits offer various reasons for a short-term rally. While those reasons may be logical and tradeable under normal circumstances, the market has yet to give us any confidence that a near-term bottom is in.
Interestingly (or alarmingly) SPX made a bullish reversal open today, only to form a bearish...
It looks like SPX monthly is going to end September with a capitulation candle below support. I was expecting the September candle to close on the support base. Put options are still on the rise. Have to keep an eye on the yield curve at the short end. The very short end of the curve is still too steep to see a big downside potential in stonks. I think that might...
The market as a whole needs this rally to have healthy breadth and so far that's what it looks like is happening, a broad-based rally.
It closed above its 200 DMA for the first time since April 21st (albeit by just 13 cents) which is also when the downtrend started. The downtrend has been thoroughly broken.
Looking for 2-3 more strong daily closes above the...
Submitted for your approval, one ADVDEC.US , a drab and undistinguished breadth index that made history last Friday, May27th 2022. On any given day, ADVDEC shows the number of stocks advancing minus the number declining. Last Friday the index made the highest reading of its 12 year history. At the time of writing both bulls and bears argue how this...
Short-term peaks in S&P 500 constituents above 50D MA (breadth) slightly front-running ST peaks in the S&P 500.
Current constituents above 50D MA = 46%
close by, or NOT.
-The only thing that's suggesting other wise is Inflation news + Incoming of Tapering !!!
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The S&P 500 declined for pretty much all of September. But now it’s kicking off October with some potentially bullish activity.
The first pattern on the chart is the false breakdown under the September 20 low of 4306. SPX spent about an hour below that level this morning before the bears cried uncle and prices reversed higher.
Next, relative strength in the...
A lot going on here but basically market breadth is deteriorating. Less than 50% of stocks are now above their 200d & 50d moving average. Advance-Decline line and volume has been flat for months. We've never stayed in an uptrend when the McClellan Summation Index (bottom pane) is negative for this long.. Just seems insane to me that people are bullish rn. Idk...
In this quick state of the market video for 7/13/2021 we discuss the structural uptrends that have been in place for the past few months.
We then talk about the dangers of weakening market breadth and why we're watching for more sectors to stabilize and resume uptrends through earnings to remain bullish on this market.
Please enjoy!
The 2 most important internals we can measure are sentiment and breadth .
Sentiment is going higher, but breadth is starting to show cracks.
The are many breadth measures, including: McClellan Oscillator, advancers vs decliners, equal weights.
Both had been holding up very well; however, the breadth is starting to show downtrends, suggesting we are due for...
The Zweig Breadth Thrust (ZBT) is an indicator developed by Martin Zweig. The indicator shows how quickly the New York Stock Exchange ratio of advancing (number of stocks with gains) and declining (number of stocks with losses) goes from poor to great. The underlying principle is that there is a rush of liquidity in the market that benefits a wide number of stocks...
Hope this idea will inspire some of you !
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Phil
BRDBTC looks as if its setting up for a big move that has not been seen before, with the development of this cup and handle formation. Whether it will be a huge pump and dump i really dont know. Very shaky cup and handle, tea most likely spilt.
The Value Line Composite Index is a stock index containing approximately 1,675 companies from the NYSE, American Stock Exchange, Nasdaq, Toronto, and over-the-counter markets. The Value Line Composite Index has two forms: The Value Line Geometric Composite Index (the original equally weighted index) and the Value Line Arithmetic Composite Index (an index which...
The MMTW is showing the SPY is now in buy territory from a breadth perspective. In addition, price is heading into overhead resistance and will likely break down again from there, if it doesn't break to the upside.
Major overhead resistance on the daily SPY...
schrts.co
The real nature of the larger pullback is revealed on this weekly SPY chart... this is very bullish.
schrts.co
Prediction: Near-term pullback with larger time-frame indicators suggesting a break to the upside, despite that major resistance is overhead.
