Breadth: Overall the oversold conditions are extreme enough that we are either very near a low or at the least a large relief rally. SPX stocks at 20-day highs: No improvement yet and pretty extreme now being this low for almost 3 weeks. It would be extremely rare not to get a major bounce next...
Breadth: SPX stocks at 20-day highs: Hasn’t really been able to bounce much, but this measure has the ability to stay low for roughly a week and a few days before a good bounce. Thus, next week “should” get a large bounce where many more stocks recover a bit. SPX stocks above their 20-day MA:...
It’s possible the low is in, but I am definitely not ready to make that assumption and the market still has a lot to prove even if it stages a large bounce next week. Also, even if the low is in it doesn’t mean we go straight up and stay up. Add to the recent...
First real down move (and by real I mean relative to how things have been) in a while. Although short term things are fairly oversold and a bounce is soon likely if not immenennt, at the moment it doesn’t seem as if the low is in. Breadth: SPX stocks at 20-day highs: Definitely in that...
SPY Open Interest for Mon, Wed, Friday for Week 10/22/18
If you have not yet subscribed to my weekly freebie you can do so below to get next weeks free trade IDEA (not alert – if you want an entry and exit alert you need to be a subscriber) sent to your mailbox Monday morning. Last week and the next couple weeks during earnings season will be off. Below are […]
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