TGIF May 27, 2016

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Stormchaser80, L.L.C.
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  VXX: Bought VXX 14C exp Jul 15 2016 on 4/28/2016 when VXX was near $15.18
  401K: Bearish  
  Long Term: Bear Market, targeting SPX <666 by 2022  

!ADLINETOT   +11.33%  
!CUMVOLTOT   +0.57%  

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Welcome to another weekly wrap-up. This one is log-in free. But to gain access to daily reports (including past daily reports), I am asking you to take 30 seconds to sign up at the bottom of this post! Its FREE!

SPX Weekly

W

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

SPX Daily

D

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

SPX Hourly

H

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

VXX Daily

VXX

Continues to struggle though with low volume, renewed downtrend, and basing/improving MACD since late March!

 

HYG:IEF Daily

HYG-IEF-D

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.

NYSE Internals

NY

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

200

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

50

The recovery in %stocks above 50dma has slowed in 4 out of 5 markets.

%Stocks above 20dma

20

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.

Oil Daily

OIL-D

The uptrend in oil seems to have waned after briefly exceeding $50, with lower volume and a double negative divergence on the MACD!

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Summary

 

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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