Bullish or Bearish? Week of August 29, 2016

Here are the results of the technical and sentiment indicators for the week of August 29, 2016:

Technical Indicators

S&P 500 is above its moving averages but pointing down = Neutral

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

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

S&P 500 is near support @ 2,170 = Neutral (2,150 next support level)

Sentiment Indicators

II survey: (Aug. 23) 56.7% Bulls; 20.2% Bears = Bearish

AAII survey: (Aug. 24): 29.4% Bulls; 29.6% Bears = Neutral

VIX: @ 13.65 = Bearish

RSI: (S&P 500) @ 49.62 = Neutral

Comment: S&P 500 showing signs of stress. Observe market closely this week. 

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