etfmsolutions: New Highs, BUT.......8.26.14

Tuesday, August 26, 2014

New Highs, BUT.......8.26.14

New highs on SPY but we saw XIV retreat on M3 and per the TrendX in the right side panel the markets are seriously overbought. Note a new TrendX mini-chart that has been added to the daily M3 dashboard.
The chart only looks back 10 days but it shows one of the most reliable tells of market strength (in my experience), that is, a 3 day moving average of the SPY pivot (high+low+close/3) versus the current SPY closing price.
Note weakness in XLU today (Vega model)...typically bullish, but this may be something else.

Commentary and Updates

Mosaic Solutions commentary is typically published daily as time permits and market action warrants.
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