Summary:
Could be a green close tomorrow but cumulative TICK tells different story.
| Trend | Momentum | Comments - Sample for using the trend table. | |
| Long-term | Down | Idea for trading intermediate-term under primary down trend. | |
| Intermediate | Up | Overbought | |
| Short-term | Up | Overbought |
More about today’s After Bell Quick Summary: 7.0.7 SPX and VIX Divergence Watch, because both SPX and VIX dropped today so 9 out of 12 times recently a green day next day. Also 2.8.3 CBOE Options Index Put/Call Ratio, see green dashed lines, looks like whenever CPCI > 1.6, the next day was likely an up day. So looks like good chances SPX will have a green close tomorrow.
Cumulative TICK from www.sentimentrader.com, I mentioned SPX and Cumulative TICK negative divergence may mean a big pullback. But from the chart we can see, before the pullback, there’s usually a spike - see red cycles on the chart below. Today we got this spike. Will this mean the pullback start from tomorrow? Well, it conflicts with the above mentioned “green close conclusion”, so I have no idea which one should be trusted. Let’s wait and see.
0.0.2 SPY Short-term Trading Signals, the similarity looks interesting. Just have a look, don’t want to imply anything here.
Listed below a few bearish signals I’ve been mentioning recently. Just for your references.
1.0.3 S&P 500 SPDRs (SPY 30 min), 1.1.5 PowerShares QQQ Trust (QQQQ 30 min), lots of negative divergence.
0.0.3 SPX Intermediate-term Trading Signals, 1.1.4 Nasdaq 100 Index Intermediate-term Trading Signals, ChiOsc way too high.
T2103 - Zweig Breadth Thrust from Telechart, overbought.
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