Info!! Indicator Update For February 2Nd

Last week's indicator update concluded, "In sum, the indicators are leaning to the downside; equally long equally that continues, I aspect a essay out of the 800 compass too perchance the ship lows inwards SPX; but I also come across bear witness of diminished selling pressure level during the recent marketplace weakness." After marketplace forcefulness midweek, nosotros saw a notable reversal and, equally of this writing, nosotros are hovering merely inwards a higher house that 800 level. Weakness has been present across the major sectors that I follow too novel 20-day lows are i time over again outnumbering novel lows (middle chart), but downside selling pressure level has been muted, equally observed inwards the Dow coin stream numbers too the Cumulative NYSE TICK (bottom chart). After the popular during the calendar week took us to overbought condition inwards the Cumulative Demand/Supply Index (top chart), we've since retreated to neutral status.

Take a 2nd to examine the peaks inwards the Cumulative DSI since early on 2008. You volition come across that they are occurring at successively lower cost levels inwards the S&P 500 Index (SPY). This is a hallmark of a ship market. While non all dips inwards Cumulative DSI bring terminated at lower cost lows, nosotros bring non been able to sustain buying involvement to brand successive cost highs. Influenza A virus subtype H5N1 drying upward of selling is necessary to turning a ship marketplace around, but it is non sufficient. We withdraw to come across enhanced buying interest--new highs inwards Cumulative TICK, stocks making novel highs outnumbering novel lows on a sustained basis, sustained positive coin flow--to hold an upward trend. To this point, such buying involvement has been missing. I aspect to suspension the 800 compass inwards the S&P 500 Index too essay out novel ship marketplace lows if that province of affairs persists.

Here are the proprietary weekly cost targets for SPY: Pivot = 83.96; R1 = 89.35; R2 = 90.43; R3 = 91.87; S1 = 78.56; S2 = 77.48; S3 = 76.04. Please depository fiscal establishment complaint that daily targets are published via Twitter prior to each morning time update; Relative Volume to update probabilities of hitting the diverse target levels. Here are the 30-minute median book figures for the ES contract going dorsum to early on January. Standard deviations are inwards parentheses:

8:30 - 240,844 (60,591)
9:00 - 190,333 (54,101)
9:30 - 141,612 (53,167)
10:00 - 125,907 (34,042)
10:30 - 104,164 (39,081)
11:00 - 99,052 (39,906)
11:30 - 88,368 (38,236)
12 northward - 108,429 (34,375)
12:30 - 118,164 (48,020)
1:00 - 122,828 (62,572)
1:30 - 134,227 (62,724)
2:00 - 159,926 (47,535)
2:30 - 230,563 (75,639)
3:00 (15 min period) - 97,482 (26,715)

When possible, I volition survive updating morning time Relative Volume observations inwards existent fourth dimension via Twitter posts. Have a happy too successful trading week.
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