Bearish or Bullish? Week of October 24, 2016

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:

I will notify you of my posts via twitter@michaelsincere

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