The Weekly Trader

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

Technical indicators (daily chart)

S&P 500 is slightly below its 50-day MA = Neutral

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

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

S&P 500 support is 2,150 and 2,126 (100-day MA).

 

Sentiment indicators

II survey: (Sept. 20) 44.6% Bulls; 24.3% Bears = Neutral

AAII survey: (Sept. 21): 24.8% Bulls; 38.3% Bears = Neutral

VIX: @ 12.29 = Bearish

RSI: (S&P 500) @ 51.52= Neutral

 

Comment: The indexes can go in either direction this week based on clues and indicators. The odds favor the bears but not by much. Best advice: Wait on the sidelines until a trend is established. 

Here are the latest technical and sentiment indicators: 

Technical indicators

S&P 500 (daily chart) is below its 50-day MA and pointing down = Bearish

MACD (S&P 500; 19,39,9) is slightly above the zero line and pointing down = Neutral

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

S&P 500 support is 2,122 (100-day MA), 2,050, and 2,000. 

 

Sentiment indicators

II survey: (Sept. 13) 49% Bulls; 22.6% Bears = Bearish

AAII survey: (Sept. 14): 27.9% Bulls; 35.9% Bears = Neutral

VIX: @ 15.37 = Neutral

RSI: (S&P 500) @ 42.91 = Neutral

 

Comment: Market is down but not out. The Fed and BOJ have market-moving meetings and statements this week. It’s a good idea to sit on the sidelines and watch to see if market continues to retreat, or if the central bank can keep markets calm. The odds are good volatility will continue during the week. Nevertheless, market typically moves higher right before and during Fed meeting.