BUSY DAY TODAY SO I’LL DO A SHORT POST NOW & UPDATE
MOMENTUM DATA LATER.
“A nutjob by any name.” -Michael Ramirez at...
https://michaelpramirez.com/index.html#/
MARKET REPORT / ANALYSIS AS OF 1PM FRIDAY
-Friday the S&P 500 was down about 0.2% to 6041.
-VIX was up about 2% to 13.92.
-The yield on the 10-year Treasury rose (compared to about this time, prior trading day) to 4.395%.
MY TRADING POSITIONS:
XLK – Holding since the October 2022 lows. Added more 9/20.
SSO – added 10/16.
SPY – added 9/19 & more 10/16
QLD – added 11/5.
UWM – added 11/11
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
No change in the indicators: Today (as of 1PM), of the 50-Indicators I track, 16 gave Bear-signs and 8 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) remained -8 (8 more Bear indicators than Bull indicators).
TODAY’S COMMENT AS OF 1PM
Today’s Bull-Bear spread of -8 is bearish. The 10-dMA of the 50-Indicator Spread (purple line in the chart above) continued down today so that is a bearish signal. (I follow the 10-dMA for trading buy-signals and as an indicator for sell signals.)
BOTTOM LINE
I’m still cautiously bullish and holding positions.
https://michaelpramirez.com/index.html#/
-Friday the S&P 500 was down about 0.2% to 6041.
-VIX was up about 2% to 13.92.
-The yield on the 10-year Treasury rose (compared to about this time, prior trading day) to 4.395%.
XLK – Holding since the October 2022 lows. Added more 9/20.
SSO – added 10/16.
SPY – added 9/19 & more 10/16
QLD – added 11/5.
UWM – added 11/11
No change in the indicators: Today (as of 1PM), of the 50-Indicators I track, 16 gave Bear-signs and 8 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) remained -8 (8 more Bear indicators than Bull indicators).
Today’s Bull-Bear spread of -8 is bearish. The 10-dMA of the 50-Indicator Spread (purple line in the chart above) continued down today so that is a bearish signal. (I follow the 10-dMA for trading buy-signals and as an indicator for sell signals.)
I’m still cautiously bullish and holding positions.
