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VXX: Bought VXX 14C exp Jul 15 2016 on 4/28/2016 when VXX was near $15.18
Long Term: Bear Market, targeting SPX <666 by 2022
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ADX: Strongly declining momentum (from Dec-Feb downturn), in a trading market, with bulls narrowly on top
RSI: Upper quartile. Near where we have been topping of late.
Candle: Strong bullish week
Volume: Alarmingly (!!!!) LOW. Well below the 20 dma
Moving Averages: Close>100>50>20>200 period moving averages
% Bollinger Band: Upper quartile of the band
Bollinger Band Width: Quite wide, no huge move expected here
MACD: Bullish at a positive value, histogram continuing to weaken
ADX: Back to trading from negatively trending earlier in the month
RSI: Upper quartile
Candle: Bullish day
Volume: Very weak!!!, well below the 20 dma, weakest volume this week!
Moving Averages: Close>50>20>200>100 period moving averages
% Bollinger Band: Top of the band
Bollinger Band Width: Still quite narrow but a tick higher, a large move at this scale is still on the radar
MACD: Bullish at a positive value, histogram ticked higher
Above the 2085 pivot
ADX: Sideways trading with blowoff?
RSI: Overbought territory
Moving Averages: Close>20>50>100>200 period moving averages
% Bollinger Band: Above the band
Bollinger Band Width: Quite narrow with a widening last couple of hours
MACD: Bullish at a positive value
Continues to struggle though with low volume, renewed downtrend, and basing/improving MACD since late March!
A negative move (bearish) is on the horizon with a double negative divergence forming with MACD as Bollinger Bands narrow. But half the drop from yesterday was recovered.
On the NYSE chart we see a downtrend in new highs/lows continues. The $NYMO has had a few positive days but summation index is on a sell since the first week of May according to the Full STO.
%Stocks above 200dma
Full STO for %stocks above 200dma in 5 different market classes is rolling over from the highest level since late 2014 (!!!). Currently this indicator is at early to mid Dec 2015 levels.
%Stocks above 50dma
The recovery in %stocks above 50dma has slowed in 4 out of 5 markets.
%Stocks above 20dma
Same idea with the Percent of stocks above their 20 dma. Here we see Buy signals from all 5 Full STO signals were well timed in the 3rd week of May.
The uptrend in oil seems to have waned after briefly exceeding $50, with lower volume and a double negative divergence on the MACD!
All that buying going into the 3-day holiday weekend. BUT, volume was quite weak all week long especially the last couple of days. Combined with negatively diverging internals, after the bulls finish their party early week, the trend should turn dramatically toward the bears!
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