Historically, down January and February conditions have been followed by strong March and April returns but the case is only encouraging for the bulls and not compelling.
Click once on panel below to enlarge.
Actionable Risk Opportunities, Tactical Musings and Timing Indicators for Investors
Sunday, March 6, 2016
Technical Status of SPY....03.06.16
This is a update of the current SPY technicals using the M1 analytics. The most obvious change in SPY stability is the current best odds stop limit, which has fallen to .5%...a dramatic change from only 3 weeks ago when that value approached .9%. This change in momentum can best be seen in the ATR and PCL charts and the 2 year long term stop volatility chart. The leveling off of the of OC chart (open to close) is typical of low to moderate volume positive momentum trends...which is what we are now witnessing. However, the VIX is now hovering around 16 and the RSI2 is in the high 90s and the odds suggest at least a modest pullback may be on the horizon.
Historically, down January and February conditions have been followed by strong March and April returns but the case is only encouraging for the bulls and not compelling.
Click once on panel below to enlarge.
Historically, down January and February conditions have been followed by strong March and April returns but the case is only encouraging for the bulls and not compelling.
Click once on panel below to enlarge.
