Buy and Sell Signals, Market Analysis, Money Flow, True Strength

Michael Pitre Author is a PRO memberHas Had Over 50 Followers Rank: 22 Followers: 65 Votes: 97 Years Member: 9 Last Update: 22 September 2014, 9:54 Categories: Market Timing
ETFs
Swing Trading

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Saturday AM

SPY and other indexes put in bearish looking candles so we
could get some selling early next week. But notice that SPY
closed right at support...see chart one below. So we are still
holding above the breakout level. This is not unusual as the
market tests the breakout point quite often. I would prefer to
see a tail left after a test of the blue line rather than closing
right on it. There was mild distribution on Friday. Overall
money flow is still on the positive side.

Less

!

The SPY broke above the resistance line but had a weak candle on Friday. It closed right on that support line. Let's see if it can stay above this key level.

!

This chart is for help in finding market bottoms. It is not used for finding tops...just bottoms. It's done a good job over the last few years.

! Health Care Select Sector SPDR (XLV)

! Nasdaq Daily

Nasdaq New Lows Have Been Moving Higher Recently...See The Blue Histogram Bars.

! PowerShares QQQ Trust (QQQ)

For this QQQ chart I am emphasizing Money Flow which is still positive.

! PowerShares QQQ Trust (QQQ)

Here is a weekly chart of QQQ with Money Flow. Still showing strength at this time.

! QQQ Daily

QQQ and the Nasdaq have been the leaders so far this year.

! S&P 500 SPDRs (SPY)

! SPX triple Moving Averages

This chart almost had a triple moving average cross but it rebounded just in time.

! SPY Weekly

As long as this upward sloping bullish channel holds the market is in good shape.

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