Market Breadth Indicators are powerful technical analysis tools that gauge the direction of the market and help traders determine if it's bullish, bearish or neutral. They do so by analyzing the degree of participation in an advance or a decline to see whether or not an uptrend or downtrend is broad-based and therefore likely to continue. Breadth indicators offer a different perspective on the markets that can't be seen through other indicators.
In a way they are indicators of market sentiment that allow traders to see how the market performs as a whole. Breadth indicators are often used in combination with other indicators to confirm trends. The most basic market breadth indicator is the Advance/Decline Line but there are several other popular breadth indicators such as On Balance Volume (OBV), the McClellan Summation Index and the Arms Index (TRIN).
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$SPY - with its consistent grind for the month of April, we have finally found ourselves approaching ATH (All time highs) from back in October 18'. All indicators illustrating market breadth is exhausted and due for a pullback. With earnings and volatility arising in the majority of S&P names, we will be mindful of both directions the market can take. For healthy...
The charts shows that AdvanceDecline Line and VIX are showing the tops and bottoms of S&P price movement. You'll also notice, that ADL is changing direction a few days before the S&P 500 follows. VIX shows how "deep" the correction will be and when it ends.
$SPY - our $283 level of resistance finally broke over with the market busting over and gapping up this week. Spy currently sitting at $288.26 at time of post. Highs of market are at $293.85. 7th green day in a row, constant gap ups making it hard to get day trades with market breadth sucked out before market opens. In individual names, I have been take about 30%...
NEPT finally filled the gap to 2.98, the trendline held support, and it has been in a strong recovery ever since. DPMO crossed above signal line, RSX crossed above midline. The last three trading days, NEPT has been testing the downward trendline resistance that has been forming since September. Although "technically" the TTM squeeze did not fire, you can see...
$SPY - still not seeing the strength I wanted to see in my watch-list last week. This is especially true in the smaller caps. Pre-Market gains are consistently getting faded off in the morning, making it tough for market open traders to see follow through on their momentum based gapper setups.
Some points for me going into the new week:
- Wait 10-minutes after...
$SPY - from our analysis on the 18th, we talked about the $283 area being a key area of resistance. Bulls wanted a consolidation under this level to allow stochastics & pullback from bollinger band pinch. Still hanging out in this range going into next week.
Key support levels on watch - $280 (20MA Daily), $276 (200MA Daily).
Before we see a clear direction in...
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Trade Crude more logically and crude oil is great asset to trade.
For access to Crude Oil vs Oil Currency Indicator, please feel free to reach me.
$SPY - after a strong rally from the pullback in the first week in March, we have now approached an overbought level under $283. Stochastic's are over 80 showing us overbought condition, along with a pinch of the upper bollinger band on the daily chart. We also have a thick area of resistance/buyers in the low $280's from the past 6 months of price action.
All...
Squeeze has been on for 10 days. Momentum has flattened out and is now turning positive. RSX curving back up, crossed above mid-line. DPMO shows a false top and beginning of another bounce.
Look for confirmation by establishing support around 55.60. First PT is 59.64; second PT would be retracement to .618 fib level at 63.75. Of course, this squeeze could...
It appears that the Marketwatch article yesterday more than doubled the usual volume for this ticker. The 1W chart shows the following indicators that piqued my interest:
TTM squeeze on, any continuation this week would likely trigger a release.
RSX higher highs/higher lows and currently crossing mid-line, indicating there's room to run much higher despite...
Since my first post, PYDS climbed from 2.78 to 3.13, closed the week at 3.03.
I've done further analysis of the weekly chart and note the following:
breakout above the upper resistance trendline from 03/15 to 10/17
sustained support at SMA200 on 1W chart
PMO crossover and higher lows on last two cycles of PMO
The fib retracement on the left covers the...
Since my last post, the squeeze has fired. If you caught my original post and followed it, you had the opportunity to get in at 10.8X. The uptrend is strong. MA crossover confirmed legit and confirmed breakout above old downward resistance trend line.
With WTIOIL sustained uptrend, USDP should easily close the gap from 12.00-12.75. The RSX has just crossed...
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