Here are the updated custom market breadth charts for Dow, S&P500 and Nasdaq 100.
At this point the breadth overbought condition is neutralized. To form a proper market bottom, more time is needed to push the market breadth readings into oversold territory. This may take one to three weeks depending on how the market is reacting to the current price levels.
One thing for sure is that the volatility will continue to stay at a higher level throughout this period.
For our premium members, they are forewarned about this correction with 5% and 8% pullback targets realized over the past 2 days. For those who do not want to miss the upcoming great trading opportunities, sign up now to become a premium member today.
The current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Aug 17 Close.
Readings
1. 3-Day Advance Issues having divergence top against S&P
2. Tick16 ST ...
Forex pairs, especially the majors, do not usually move in a particular direction alone while the other ones doing that in the opposite direction. They often move in near synchronization. ...
Review of Forecast for Dec 7, 2015
Bearish expectation worked out. The expansion to 2.5% or more downside also worked out. The breadth analog model did an excellent job for the ...
I wrote an article in the Futures magazine some time ago on S&P 500 Tick16 Index and a basic daytrading system that exploit the statistical bias on the index. Here ...
Review of Forecast for Jun 13, 2016
S&P intraday downside breakout fulfilled 100% weekly range expansion. Whiplash moves around 50% expansion level. The breadth analog model did an excellent job for ...
To utilize S&P500 Tick1K Index, we can start from its basic properties of being highly correlated to the bar to bar pattern with Emini S&P (and SPY too) on 5-minute ...
Review of Forecast for May 23, 2016
Short term oversold conditions in custom breadth lead to breakout of the bull flag on daily chart. Down trend broken off previous week close. ...
Review of Forecast for Jan 25, 2016
Continuation to the upside as expected. Pushed higher to the end of the week as projected. Upside limited to 1.5% to 2% as forecasted. ...
Review of Forecast for Feb 8, 2016
Everything unfolded as expected - bounced from a flush low early last week, weaknesses kicked in after Wednesday and limited upside cap by the ...
My monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 May 17 close. ...
Market Breadth Correction Progresses To Neutral
An update to my post back in mid-September pointing out that a market breadth driven correction was on the way.
Here are the updated custom market breadth charts for Dow, S&P500 and Nasdaq 100.
At this point the breadth overbought condition is neutralized. To form a proper market bottom, more time is needed to push the market breadth readings into oversold territory. This may take one to three weeks depending on how the market is reacting to the current price levels.
One thing for sure is that the volatility will continue to stay at a higher level throughout this period.
For our premium members, they are forewarned about this correction with 5% and 8% pullback targets realized over the past 2 days. For those who do not want to miss the upcoming great trading opportunities, sign up now to become a premium member today.
Share