Buy and Sell Signals, Market Analysis, Money Flow, True Strength
The indicators look bullish. TSI is moving quite vertical and is thus strong.. Money flow is still strong. The accumulation/distribution lines behind price are still moving
upward and thus showing solid accumulation. The NYSE Summation Index at the bottom is still rising and force is still solid green. The NY Advance Decline line is at a new high.
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.
! QQQ Daily
QQQ and the Nasdaq have been the leaders so far this year. QQQ is now over upper level R2 resistance and well over the 70 level on RSI so
time to be aware of the potential for a pullback which could start at any time.
! SPX triple Moving Averages
This chart shows strong money flow for SPX. Keep an eye on the upper level...upward sloping...trendline above price. Where it intersects with R1 resistance is a potential target.
Keep a close eye on RSI as it is nearing the 70 level at this time.
! SPY Weekly
As long as this upward sloping bullish channel holds the market is in good shape.
I like to keep tabs on this chart for a number of reasons. I have included VIX and NY up down volume. Right now up down volume is showing solid accumulation in spite of the
recent consolidation where prices have been moving sideways.
Tech stocks...XLK...and Healthcare...XLV are trying to lead the market higher.
Mid Caps are coming back strong. The Nasdaq and QQQ are leading. Small caps recovering but still have a ways to go.
!! QQQ 2 Hour
QQQ moved above R1 so that is a good sign.
!! SPX 2 Hour
The 2 hour charts looks ready to move higher. Lot's of things to worry the market out there and news cycles could hurt but at this time it looks like
it wants to move higher.