Info!! Indicator Update For January 26Th

Last week's indicator review concluded "the motion to toll highs early on inward Jan has been reversed, as well as nosotros are dorsum to seeing 20-day lows exceeding novel highs. As long every bit the novel highs/lows stay weak, I await continued toll weakness as well as tests of the lead marketplace lows." We did, indeed, come across ongoing weakness inward the novel high/low statistics (middle chart), every bit the S&P 500 Index moved into moderately oversold territory on the Cumulative Demand/Supply Index (top chart). Interestingly, nosotros are seeing moves below the Nov lead lows amid fiscal stocks, only non most other sectors, which are showing alone moderate weakness. I volition last watching sector demeanor carefully on whatever follow-through weakness, to come across if nosotros larn glaring divergences.

The 800 grade inward that index is shaping upwards every bit a widely watched back upwards level; a washout below that grade would probable accept the Cumulative DSI into oversold levels that induce got characterized intermediate-term marketplace bottoms. The Cumulative NYSE TICK (bottom chart) has been asset upwards relatively good during the recent marketplace weakness, every bit has the advance-decline trouble specific to S&P 500 stocks as well as coin stream for Dow stocks. This in i lawsuit again raises questions most possible divergences on whatever continued weakness; it is non clear to me that a spike below 800 would necessarily entail a fresh leg downward inward the lead marketplace (though that would last a widely anticipated breakout move).

The novel highs/lows should last helpful inward confirming or non confirming whatever such move. Note that 65-day lows are pocket-size at this juncture; Fri showed 129 65-day highs against 424 lows. Conversely, nosotros had of import upside resistance inward the depression 900 attain inward the S&P 500 Index; a suspension inward a higher house that grade alongside potent participation would last a meaning bullish development. In sum, the indicators are leaning to the downside; every bit long every bit that continues, I await a examination of the 800 grade as well as maybe the lead lows inward SPX; only I besides come across testify of diminished selling pull per unit of measurement area during the recent marketplace weakness.

I induce got reformulated my method for calculating pin levels as well as toll targets for the S&P 500 Index; the daily levels are issued prior to each marketplace opened upwards via Twitter. The morning time Twitter "tweets" besides include updates on novel highs/lows; Demand/Supply; as well as the proportion of SPX stocks trading inward a higher house their moving averages (this postal service as well as its links:

Pivot = 82.83
R1 = 88.62
R2 = 89.78
R3 = 91.33
S1 = 77.04
S2 = 75.88
S3 = 74.34

For short-term traders interested inward tracking relative volume, hither are median 30-minute volumes for ES (Central Time). Standard deviations are inward parentheses:

8:30 - 259,412 (66,817)
9:00 - 194,961 (57,402)
9:30 - 143,791 (60,139)
10:00 - 132,556 (37,528)
10:30 - 125,055 (42,708)
11:00 - 99,075 (44,475)
11:30 - 89,360 (41,828)
12 due north - 86,691 (37,697)
12:30 - 113,785 (53,362)
1:00 - 124,136 (69,600)
1:30 - 140,838 (67,488)
2:00 - 169,776 (50,382)
2:30 - 246,133 (77,931)
3:00 (15 min period) - 99,693 (28,446)

On days inward which I am inward front end of the screen, non working alongside traders, I volition endeavor to transportation a Twitter message inward the AM alongside a brief assessment of relative volume.
.