Bullish or Bearish? Week of Sept. 18, 2017

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

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