Thursday, May 5th
* I volition endure taking a sabbatical during May too June to operate on my side yesteryear side mass project, which is the tertiary mass of a textbook too an updating of short-term approaches to behaviour change. The spider web log volition endure updated on weekends too I'll proceed to write the Forbes blog.
* Worthwhile perspective on spotting your best trades from SMB.
* Stocks continued weak yesterday, earlier bouncing inwards belatedly too overnight trading. Breadth continued to weaken, amongst novel monthly highs expanding to 382, but fresh monthly lows likewise expanding to 834. We're seeing item weakness amidst Asian stock markets, amongst the potent currencies weighing on shares there.
* We proceed short-term oversold, amongst roughly 30% of SPX shares closing to a higher house their short-term moving averages (see below). The recent inability to rally off these oversold levels is making the electrical flow marketplace position province of affairs dissimilar from what we've seen during the rally off the Feb lows, every bit macro weakness weighs on the rally. Payrolls tomorrow volition endure a major focus.
Wednesday, May 4th
* Looking to abide by novel too useful books, apps, podcasts, too more? Excellent resource: Josh Brown volition offering his listing on Product Hunt LIVE.
* Stocks continued their weakness yesterday too inwards overnight merchandise today, amongst notable weakness amidst little caps contributing to negative breadth. New monthly highs across all exchanges dropped to 304; novel lows expanded to 619. VIX in 1 lawsuit over again jumped too closed to a higher house 16. Global economical weakness has leave of absence a dominant marketplace position theme, amongst falling stocks too ascension bonds. Short-term we're oversold, amongst roughly a tertiary of stocks closing to a higher house their 3, 5, too 10-day moving averages; on an intermediate-term basis, I silent am non getting oversold readings, but marketplace position forcefulness is waning.
* The cumulative indicators mensurate tracks purchase vs. sell signals for all NYSE issues across a multifariousness of technical trading systems, such every bit Bollinger Bands, CCI, etc. Throughout the rally since February, purchase signals get got handily outnumbered sell signals. That looks to endure changing, given the recent weakness.
* I'm keeping a unopen oculus on commodities, every bit yet around other possible indication of global economical weakness. Specifically, I desire to encounter how commodities are behaving vis a vis a multifariousness of currencies, non simply USD.
Tuesday, May 3rd
* Thanks to the Benzinga pre-market prep show for the chance to offering a few trading perspectives.
* Unusually thoughtful post service from Dash of Insight on the importance of agreement analyses that nosotros read.
* Stocks held to a higher house their Fri lows yesterday too rallied to the Fri highs earlier selling off over again inwards overnight trade. We proceed a consolidation mode; novel monthly highs rose to 563 too lows dropped to 397. About 50% of SPX shares closed to a higher house their 20-day moving averages too 60% to a higher house their 50-day averages (Data from Index Indicators). I aspect those numbers to accomplish to a greater extent than oversold levels earlier the correction has run its course. Note how nosotros get got been making lower highs on the breadth mensurate tracking the percentages of SPX shares to a higher house their short-term moving averages.
* Sentiment, every bit measured yesteryear portion creation versus redemption for the SPY ETF, has turned to a greater extent than bearish for the yesteryear iii sessions, amongst cyberspace redemptions. I'm watching that closely.
* We saw buying pressure level nicely move yesteryear selling pressure level yesterday on the upticks/downticks measure. Thus far, cyberspace selling too short-term oversold weather inwards the marketplace position get got leave of absence near-term buying opportunities for marketplace position participants. My continued leaning is to sell marketplace position bounces that neglect to accept out prior day's highs.
Monday, May 2nd
* The best model for making trading improvements comes from agreement the drivers of your most successful trades. Re-engineering your best trading makes y'all your ain guru.
* We saw a abrupt selloff on Friday, amongst NASDAQ shares taking out their early on Apr lows too novel monthly lows outnumbering novel highs, 583 to 513. VIX striking 17 during the session earlier dropping on a belatedly rally. That rally has continued modestly inwards overnight trading. On a short-term basis, we're oversold, amongst fewer than 30% of SPX shares trading to a higher house their 3- too 5-day moving averages. My intermediate measures, however, are non yet inwards oversold territory. My leaning is to sell bounces that cannot accept out Friday's highs.
* One trace of piece of job I get got nigh the marketplace position is the modify of regimes inwards recent sessions. The weak dollar is buoying commodities but non stocks, too it's increase stocks (SPYG) underperforming value ones (SPYV). Earnings get got non been impressive too nosotros seem to endure pricing inwards economical weakness. It's far from clear that the deed to negative involvement rates has sparked either economical optimism or growth. All that existence said, I am treating this every bit a correction inside a larger upward cycle, non every bit the get-go of a comport market.
* Note how the realized volatility of VIX (implied vol) has striking depression levels at relative marketplace position peaks too has peaked at relative marketplace position bottoms. We are coming off a rattling depression vol of VIX.
* I volition endure taking a sabbatical during May too June to operate on my side yesteryear side mass project, which is the tertiary mass of a textbook too an updating of short-term approaches to behaviour change. The spider web log volition endure updated on weekends too I'll proceed to write the Forbes blog.
* Worthwhile perspective on spotting your best trades from SMB.
* Stocks continued weak yesterday, earlier bouncing inwards belatedly too overnight trading. Breadth continued to weaken, amongst novel monthly highs expanding to 382, but fresh monthly lows likewise expanding to 834. We're seeing item weakness amidst Asian stock markets, amongst the potent currencies weighing on shares there.
* We proceed short-term oversold, amongst roughly 30% of SPX shares closing to a higher house their short-term moving averages (see below). The recent inability to rally off these oversold levels is making the electrical flow marketplace position province of affairs dissimilar from what we've seen during the rally off the Feb lows, every bit macro weakness weighs on the rally. Payrolls tomorrow volition endure a major focus.
Wednesday, May 4th
* Looking to abide by novel too useful books, apps, podcasts, too more? Excellent resource: Josh Brown volition offering his listing on Product Hunt LIVE.
* Stocks continued their weakness yesterday too inwards overnight merchandise today, amongst notable weakness amidst little caps contributing to negative breadth. New monthly highs across all exchanges dropped to 304; novel lows expanded to 619. VIX in 1 lawsuit over again jumped too closed to a higher house 16. Global economical weakness has leave of absence a dominant marketplace position theme, amongst falling stocks too ascension bonds. Short-term we're oversold, amongst roughly a tertiary of stocks closing to a higher house their 3, 5, too 10-day moving averages; on an intermediate-term basis, I silent am non getting oversold readings, but marketplace position forcefulness is waning.
* The cumulative indicators mensurate tracks purchase vs. sell signals for all NYSE issues across a multifariousness of technical trading systems, such every bit Bollinger Bands, CCI, etc. Throughout the rally since February, purchase signals get got handily outnumbered sell signals. That looks to endure changing, given the recent weakness.
Tuesday, May 3rd
* Thanks to the Benzinga pre-market prep show for the chance to offering a few trading perspectives.
* Unusually thoughtful post service from Dash of Insight on the importance of agreement analyses that nosotros read.
* Stocks held to a higher house their Fri lows yesterday too rallied to the Fri highs earlier selling off over again inwards overnight trade. We proceed a consolidation mode; novel monthly highs rose to 563 too lows dropped to 397. About 50% of SPX shares closed to a higher house their 20-day moving averages too 60% to a higher house their 50-day averages (Data from Index Indicators). I aspect those numbers to accomplish to a greater extent than oversold levels earlier the correction has run its course. Note how nosotros get got been making lower highs on the breadth mensurate tracking the percentages of SPX shares to a higher house their short-term moving averages.
* We saw buying pressure level nicely move yesteryear selling pressure level yesterday on the upticks/downticks measure. Thus far, cyberspace selling too short-term oversold weather inwards the marketplace position get got leave of absence near-term buying opportunities for marketplace position participants. My continued leaning is to sell marketplace position bounces that neglect to accept out prior day's highs.
Monday, May 2nd
* The best model for making trading improvements comes from agreement the drivers of your most successful trades. Re-engineering your best trading makes y'all your ain guru.
* We saw a abrupt selloff on Friday, amongst NASDAQ shares taking out their early on Apr lows too novel monthly lows outnumbering novel highs, 583 to 513. VIX striking 17 during the session earlier dropping on a belatedly rally. That rally has continued modestly inwards overnight trading. On a short-term basis, we're oversold, amongst fewer than 30% of SPX shares trading to a higher house their 3- too 5-day moving averages. My intermediate measures, however, are non yet inwards oversold territory. My leaning is to sell bounces that cannot accept out Friday's highs.
* One trace of piece of job I get got nigh the marketplace position is the modify of regimes inwards recent sessions. The weak dollar is buoying commodities but non stocks, too it's increase stocks (SPYG) underperforming value ones (SPYV). Earnings get got non been impressive too nosotros seem to endure pricing inwards economical weakness. It's far from clear that the deed to negative involvement rates has sparked either economical optimism or growth. All that existence said, I am treating this every bit a correction inside a larger upward cycle, non every bit the get-go of a comport market.
* Note how the realized volatility of VIX (implied vol) has striking depression levels at relative marketplace position peaks too has peaked at relative marketplace position bottoms. We are coming off a rattling depression vol of VIX.
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