Author name: sunygxc

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 5) The SPX index fell 2.24% during yesterday’s session, closing at 5275.  This close came well below the previously identified resistance level at 5400.  In fact, as I wrote yesterday morning, “I would focus on the 5400 level (cash) and the 5364 level (front month […]

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 4) The SPX index struggled to advance further during yesterday’s session, closing down 17bps and below the previously identified 5400 resistance level.  There seems to be decent supply in the 5400/5500 range as the index is fading these levels once again.  Momentum and trend indicators

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 3) The SPX index gained 79bps during yesterday’s session, closing at 5405.  Price action was somewhat lackluster, hitting a mid-day low of 5358, then retaking 5400 and barely holding on into the close.  Nevertheless, 5400 did hold (short term positive).  However, momentum and trend indicators

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX index took back 1.81% on the session Friday, closing at 5363.  The index continues to try and work higher off the Apr 7 low of 4835 and is now approaching resistance at 5400 and 5500.  Momentum and trend, while still negative and

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX index sold off over 6% during yesterday’s session, hitting a low of 5115.  The index then took back approximately half of that loss, closing only 3.46% lower at 5268.  Price action remains as expected; volatile, manic and emotional.  I would remain focused

Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX index gained 9.52% on the day, closing at 5456.  The index has now rallied over 13% trough-to-peak in just two sessions.  Price action is manic with multiple 10% moves intraday over the past three sessions.  Yesterday’s stick was a massive reversal which

Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX index fell 1.57% yesterday, establishing a new closing low for this move at 4982.  The index initially rallied over 4% to start the session, hit a high of 5267, and then reversed sharply trading down 6.78% to a low of 4910.  Overall,