etfmsolutions: Keeping Pace...05.20.15

Wednesday, May 20, 2015

Keeping Pace...05.20.15

The markets basically went nowhere today, even with The FED minutes offering an excuse for a rally. There actually was a rally minutes after the FED release but the mood couldn't be sustained and price fizzled down into the close. SPY is still overbought on a daily basis although the consolidation of the past 2 days has worked some of that off.
Surprisingly, there was little evidence of HFT price manipulation per the ergodic/ADX alignment so we're left with a neutral (cash) forecast for Thursday and then the usual negative bias for Friday...which is more likely than not considering Monday is Memorial Day and a non-trading day.
XIV is WAAAY overbought and M3 signaled an end to short term bullish prospects at the close.

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