Market Bias, June 18
Updated 06/17/16 NO Bias Bulls and Bears alike need to take caution, say the volume and price trend indicators. Accumulation/ Distribution* S&P 500 6/5 NASDAQ 4/5 DOW 30 3/6 No clear dominance in volume to suggest Read More …
Pop Ready
Bullish charts for the major indexes… looking like they wanta pop new highs. The S&P 500 is wound tight in a bullish-cup-and-handle pattern. History says this kind of thing will lead to a breakout. Read More …
Accumulation
Look out Bear. Buying power kicks in just under the 50-day MA. We’re still bears, but this could give give some upward thrust into the end of the week.
Packing Red
Major indexes are poised for new highs: But… Sell Bias remans. Dominant selling threatens this bullish scenario with three, clear distribution days weighing in on the tight range that’s formed on the S&P 500 over the Read More …
Range Top
Price action rules. It’s been a Bull’s market for several weeks. We’re just under all time highs on the S&P 500, testing the upper technical range put in place at the end of 2015. SELL Read More …
Heads Up
The Bull appears to be back with the S&P 500 making its second consecutive weekly close above its 50-day moving average. But the Sell Bias remains here. Don’t let appearances fool you. Leadership is coming Read More …
It’s The 80’s Again
The Bear’s got a heavy claw in the action with S&P 500 price action back under 1,900. Sell Bias holds – as it has for months. We’re trend down, below the major moving averages, with Read More …
$OVX, No Bueno
An elevated Oil Volatility Index isn’t good enough reason alone to short crude. However, it’s tough to be a true bull as this measure of fear in that market warns.
Thrust
Back to back accumulation days on the S&P 500 gives the Bull some momentum going into February. It’s mostly been energy stocks bouncing off lows, so we won’t get too excited. Yet a broader bounce is still Read More …
Breakout Watch, STOR
The Buy Signal on STOR is a high risk one given the dominant bearish environment of the broader market. A success here may pave the way for other top quality growth stocks to breakout. Technical base Read More …
Test, Bounce & Count
We’re three trading days into the bounce we anticipated. A bounce off the S&P 1,850ish level is logical. And it’s also likely to be largely rooted in short seller covering. We’ll give it another day Read More …
High Yield Collapse
All bets off for the Bull rebalancing until we see a turn around in the high yield corporate bond ETF (HYG.) Weekly chart shows price action well below the 40-period exponential MA. No Bueno.