Buy and Sell Signals, Risk Analysis, Money Flow, Breadth, Momentum

Michael Pitre Author is a PRO memberHas Had Over 50 Followers Rank: 21 Followers: 77 Votes: 103 Years Member: 10 Last Update: 25 May 2016, 20:41 Categories: Market Timing
Trend Analysis
Swing Trading

etfmaintrends.com

Saturday May 21....Watching the broad market more than the 500 large caps now.

The NYSE stock only companies shows decisively decisive erosion and nearly half of all domestic common stocks listed on the NYSE are in established bear market patterns, down 20% or more from their highs.

The 70 Week MA has rolled over for the total market index. Once this key moving average rolls over...and the further it falls...the greater the energy it takes to move it higher and back to up trending mode. Lots of upside will be needed.

The market lacks the internal strength to break out to new highs at this time. The thing to watch for is further erosion in the underlying internals and and an increase in selling pressure.

The Nasdaq indicators on the dialy are set up for a potential rally on a short term basis. Question is... will the weekly charts turn positive. At this time they are still showing sells but that may change next week.

Have a great weekend!

Monetary Policy.........Accomadative....Most Bear Markets Start When Monetary Policy Is Not Accomodative...ie, The Fed Is Tightening Aggressively

Market Breadth..........NY AD Line Under Pressure, NY Up Down Volume Under Heavy Pressure, NY Summation Index Moving Lower

Market Leadership.... Defensive Stocks Lead Rather Than Cyclical Stocks...Preferable For Cyclical Sectors To Lead In Bull Markets

Economy...................Business Cycle Pulled Back Slightly....Strong Labor Market, Favorable Housing Market, Favorable Interest Rates

Sentiment.................VIX Tested Resistance and Fell back. Put Call Ratio Has Moved Higher.....Fear somewhat increasing.

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A Daily Chart of the major 'risk on' indexes.

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Market Breadth Trying To Turn Higher...Breadth has not been strong enough to get the market through the layers upon layers of resistance.

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Key Chart For Volume Analysis...This chart gives a good understanding of what internals look like from the up volume vs the down volume...has done well big picture

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Market Sentiment With RSI 5 For VIX...RSI 5 got oversold for VIX and Sto for VIX has turned higher.

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