The Weekly Trader

Here are the latest technical and sentiment indicators:

Technical Indicators (daily chart)

S&P 500 is below its 50-day, 100-day moving averages = Bearish

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

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

S&P 500 is slightly above its 200-day MA @ 2,083; next support is 2,077.

 

Sentiment Indicators

II survey: (Nov. 1) 41.7% Bulls; 24.3% Bears = Neutral

AAII survey: (Nov. 2): 23.6% Bulls; 34.3% Bears = Neutral

VIX: @ 22.51 = Neutral

RSI: (S&P 500) @ 28.26 = Bullish

Comment: Technical indicators reflect the 9-day losing streak of the S&P 500. The main bright spot is the RSI, and even the VIX, which reflects an oversold market. My gut tells me the market will rally (i.e. bounce) this week, but meanwhile, everyone is holding their breath until the election is over. Institutions are on the sidelines now, but that will change on Wednesday. The 200-day MA should hold at 2,083 unless there is a selling frenzy. 

Here are the latest technical and sentiment indicators:

Technical Indicators (daily chart)

S&P 500 is below its 50-day and 100-day moving averages = Bearish

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

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

S&P 500 is below support @ 2,130 = Bearish (2,077 is 200-day MA and next support level)

 

Sentiment Indicators

II survey: (Oct. 25) 47.1% Bulls; 23.1% Bears = Neutral

AAII survey: (Oct. 26): 24.8% Bulls; 34.1% Bears = Neutral

VIX: @ 16.19 = Neutral

RSI: (S&P 500) @ 41.05 = Neutral

Comment: As expected, the indexes took a turn for the worse last week. Most rallies failed and support levels were breached. The market is vulnerable but like a trapped animal, it could lash out in either direction. Because volatility is weak, it’s remains a dangerous trading environment. Keep your eye on the struggling bond market, which may provide fireworks in the near future. 

Technical indicators (daily chart)

S&P 500 is below its 50- and 100-day moving averages (MA) = Bearish

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

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

S&P 500 support is 2,130 and 2,072 (200-day moving average)

 

Sentiment indicators

II survey: (Oct. 18) 42.9% Bulls; 23.8% Bears = Neutral

AAII survey: (Oct. 19): 23.7% Bulls; 37.8% Bears = Neutral

VIX: @ 13.34 = Bearish

RSI: (S&P 500) @ 46.62 = Neutral

Comment: Observe if there are failed rallies. I am watching to see if the early morning spikes last until the end of the day. My guess is that volatility will increase after the election. My latest MarketWatch column on how the market is stuck in the danger zone: goo.gl/DeHNMr

Here are the latest technical and sentiment indicators:

 

Technical Indicators

S&P 500 is below its 50-day and 100-day moving averages = Bearish

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

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

S&P 500 is even with support @ 2,130 = Neutral

 

Sentiment Indicators

II survey: (Oct. 11) 46.1% Bulls; 23.1% Bears = Neutral

AAII survey: (Oct. 12): 25.5% Bulls; 33.7% Bears = Neutral

VIX: @ 16.12 = Neutral

RSI: (S&P 500) @ 42.47 = Neutral

Comment: Market has taken a turn for the worse. The technical indicators are telling us to be very, very careful. Friday’s intraday reversal was another warning sign. Be on the lookout for failed rallies. Cash is king this week, and start brushing up on buying put options (recommended if experienced) and short selling (only for the pros).  

Here are the latest technical and sentiment indicators: 

 

Technical indicators (daily chart)

S&P 500 is exactly at its 50-day Moving Average (MA) = Neutral

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

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

S&P 500 support is 2,150 and 2,131 (100-day MA)

 

Sentiment indicators

II survey: (Sept. 27) 45.2% Bulls; 23.1% Bears = Neutral

AAII survey: (Sept. 28): 24.0% Bulls; 37.1% Bears = Neutral

VIX: @ 13.29 = Bearish

RSI: (S&P 500) @ 52.43 = Neutral

 

My latest market analysis can be found at MarketWatch: goo.gl/KfKqaW