The Weekly Trader

Here are the latest technical and sentiment indicators:

Technical Indicators (daily chart)

S&P 500 is above its 50-day MA = Bullish

MACD (S&P 500; 19,39,9) is above its zero line = Bullish

MACD (S&P 500; 19,39,9) is above its signal line = Bullish

S&P 500 support @ 2460

 

Sentiment Indicators (+RSI)

II survey: (Sept. 12): 47.1% Bulls; 20.2% Bears = Neutral

AAII survey: (Sept. 13): 41.3% Bulls; 22% Bears = Neutral

VIX: @ 10.17 = Bearish

RSI: (S&P 500) @ 64.94 = Overbought

Comment: It’s time to pay attention once again to the market as we enter the traditionally volatile September to November period. Of course, nothing about this market has been traditional, so it’s possible volatility will continue to be suppressed. But one thing I know for sure: No one, not even the Fed or the algos, can eliminate volatility forever. As the market makes all time highs while sentiment flashes warning signs, it’s advised to be on guard. No one knows the catalyst but one of these days the market is going to crumble. All we can do is look for the clues and hopefully be prepared before it happens. A more detailed analysis of the current market can be found at Lance Robert’s website, which I highly recommend: WINTER IS COMING: https://goo.gl/PPaX75

Here are the latest technical and sentiment indicators:

 Technical Indicators (daily chart)

S&P 500 is above its 50-day MA = Bullish

MACD (S&P 500; 19,39,9) is above its zero line = Bullish

MACD (S&P 500; 19,39,9) is even with its signal line  = Neutral

S&P 500 support @ 2450 and 2400

 

Sentiment Indicators (+RSI)

II survey: (August 29): 49.5% Bulls; 19.1% Bears = Neutral

AAII survey: (August 30): 25.0% Bulls; 39.9% Bears = Neutral

VIX: @ 12.12= Bearish

RSI: (S&P 500) @ 52.34 = Neutral

No comment this week because of the hurricane (I’m in the middle of it). 

Here are the latest technical and sentiment indicators:

 Technical Indicators (daily chart)

S&P 500 is above its 50-day MA = Bullish

MACD (S&P 500; 19,39,9) is above its zero line = Bullish

MACD (S&P 500; 19,39,9) is even with its signal line  = Neutral

S&P 500 support @ 2450 and 2400

 

Sentiment Indicators (+RSI)

II survey: (August 29): 49.5% Bulls; 19.1% Bears = Neutral

AAII survey: (August 30): 25.0% Bulls; 39.9% Bears = Neutral

VIX: @ 10.13 = Bearish

RSI: (S&P 500) @ 60.13 = Neutral

Comment: As expected, the market took a hit last week, but the selloff lasted only an hour before the computer algos entered the market with buy orders, and the market went higher. Overnight, geopolitical concerns set the S&P futures back a little but it recovered. Bottom line: The bullish algos are in control. One day the uptrend will change to a downtrend and the algos will change strategies, but until that day arrives, be cautious and conservative with your trades.

Here are the latest technical and sentiment indicators:

 Technical Indicators (daily chart)

S&P 500 is slightly below its 50-day MA = Bearish

MACD (S&P 500; 19,39,9) is below its zero line = Bearish

MACD (S&P 500; 19,39,9) is above its signal line but heading down = Neutral

S&P 500 support @ 2400, resistance @ 2450

 

Sentiment Indicators (+RSI)

II survey: (August 22): 48.1% Bulls; 18.3% Bears = Neutral

AAII survey: (August 23): 28.1% Bulls; 38.3% Bears = Neutral

VIX: @ 11.28 = Bearish

RSI: (S&P 500) @ 46.32 = Neutral

Comment: What a difference a month makes! When I left for vacation a month ago, all the technical indicators were bullish along with sentiment. A month later, the technical indicators turned sour, and market enthusiasm has cooled. We have been at a crossroads before, and here we are again. Although the market is struggling, it’s too early to proclaim the bull market over. All we can do is sit and watch to see if the S&P can retake the 50-day moving average on strength, or if it continues to retreat. I would not be surprised to see a short-term selloff this week, but then again, the market has risen from the ashes many times before. We’ll get valuable clues this week. Hint: If there is a short-term selloff, the buy on the dippers will enter at 2400. That’s when it will get very interesting. 

 

Here are the latest technical and sentiment indicators:

Technical Indicators (daily chart)

S&P 500 is above its 50-day MA = Bullish

MACD (S&P 500; 19,39,9) is above its zero line = Bullish

MACD (S&P 500; 19,39,9) is above its signal line = Bullish

S&P 500 support @ 2450, 2400

 

Sentiment Indicators (+RSI)

II survey: (July 18): 57.8% Bulls; 16.7% Bears = Bearish

AAII survey: (July 19): 35.5% Bulls; 25.8% Bears = Neutral

VIX: @ 9.36 = Bearish

RSI: (S&P 500) @ 66.27 = Neutral

Comment: The market drifted slightly lower last week as it retreated from all-time highs. Cash is king in my opinion but the market could break through heavy resistance. This is the time to sit and watch what happens. Investors are dreaming of 2500 and 3000 on the S&P 500, and they could get their wish. Nevertheless, the higher we go, the higher the risks. Retail investors are all in while whispers of economic problems flirt through the air. Let’s see if the market has the strength to move much higher from here. Advice: Be ready for anything.