Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 10) Well, that was fun!!!  The SPX Index lost 1.78% yesterday, closing at 5738.  The low of 5711 represented a test of the previously identified support level at 5700 and a peak-to-trough move of 7.08% since Feb 19.  The index broke below the […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX Index rallied 1.12% during yesterday’s session, closing at 5842.  Nothing unexpected as the 200dma (ref 5728) and 5700 acted as support after an over 6% selloff in just 9 sessions.  Momentum and trend indicators remain negative.  However, my Spot VIX

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index closed down 1.22% on the day yesterday at 5778.  With a low of 5732, the index essentially tested the 200dma (ref 5725) and was within 32 handles of the previously identified downside target at 5700.  This low also marked

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) The SPX Index hit an early high of 5986, reversed to a low of 5810 (down 2.93%) and closed down 1.76% on the day at 5849.  Momentum and trend indicators continue to degrade.  Spot VIX has rallied 61% (trough-to-peak) in just 8

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index hit a low of 5837 during Friday’s session and then rallied to close +1.59% at 5954.  This “relief rally” makes sense as the index has sold off over 5% in just seven sessions.  The recent slide was as expected

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 5) The SPX Index lost 1.59% on the day, closing at 5861.  The index, as expected and predicted, has now sold off 4.70% (peak-to-trough) in just six sessions.  Previously identified support levels have been undercut as momentum and trend indicators continue to degrade/confirm. 

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index closed flat on the day.  However, the session was relatively volatile with a high/low range of over 1.3% (77 handles).  The index attempted to rally early in the session, tested the 50dma (ref 6004) around mid-day and failed.  Overall,

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 3) The SPX Index fell for the fourth consecutive session yesterday, losing 47 bps to close at 5955.  To note, the index did test the top of the previously identified 5850/5900 gap with a low of 5908.  The 100dma (ref 5946) was also