Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) The SPX index fell 33bps on the day yesterday closing at 5693.  This was the second “doji” formation in the past three sessions with a high/low spread of 38 points and an open/close spread of just two.  More indecisive price action and, […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX index lost 1.10% on the session, closing at 5712.  I had noted that the Mar 25 stick created a doji, representing “indecision/pause as the index begins to encounter more significant resistance from 5750 up to 5900.”  Price action yesterday did

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 2) The SPX index gained just 16bps on the session closing at 5776.  The day’s price action formed a small doji with a high/low spread of 26 points and an open/close spread of just one point.  Natural indecision/pause as the index begins to

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 1) The SPX index gained 1.76% on the day, closing at 5767.  This marks a 4.46% rally from the Mar 13 close (ref 5521).  The index has now cleared resistance at 5700 and 5750.  Additional near-term resistance levels are 5800 and the 50dma

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 4) The SPX index gained just 8bps on Friday, closing at 5667.  However, in the process, the index did hit a low of 5603, marking the second test of 5600 in the past four sessions.  As the index continues to work off the

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 15) The SPX index lost 1.39% during yesterday’s session, closing at 5521.  This marked a -10.13% drawdown on a closing basis from peak-to-trough.  The low of the day ticked at 5504, clearly testing the previously identified 5500 support level.  Momentum and trend indicators

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 14) The SPX index gained a hard earned 49bps yesterday, closing at 5599.  The session was modestly positive as it simply stopped the bleeding after the recent 10% peak-to-trough slide.  That said, momentum and trend indicators remain negative.  Spot VIX closed down 18%

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 13) The SPX index lost another 76bps yesterday, hitting a low of 5528 and closing at 5572.  This intraday low brings the entire peak-to-trough move to -10.07%.  No doubt this triggered some degree of a reversion trade late in the session as my

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 12) The SPX index closed down 2.70% yesterday at 5614.  The intraday low of 5564 marked a peak-to-trough move of 9.49%.  That low also came within 64 handles of my next downside target at 5500.  This move has been exactly what I expected,

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 11) The SPX Index hit an intraday low on Friday at 5666 (down 1.26% from previous close and down 7.83% from peak), then rallied to close +55bps at 5770.  The index remains under pressure, smashing through the previously identified support level at 5700