Bullish or Bearish? Week of August 8, 2016

Here are this week’s results for the technical and sentiment indicators:

Technical Indicators

S&P 500 is above its moving averages = Bullish

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

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

S&P 500 is above support @ 2,150 = Bullish

Sentiment Indicators

II survey (Aug. 2) 52.9% Bulls; 21.2% Bears = Bearish 

AAII survey (Aug. 3): 29.8% Bulls; 26.8% Bears = Neutral

VIX @ 11.39 = Bearish

RSI (S&P 500) @ 64.56 = Overbought

 

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