Bullish or Bearish? Week of Sept. 11, 2017

IMPORTANT NOTE: THE FOLLOWING ENTRIES ARE FROM 2017 AND BEFORE. 

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). 

Bullish or Bearish? Week of Sept. 4, 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 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.