Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index continued its fade yesterday, hitting a low of 5977 and closing down 50bps at 5983.  Since achieving an all-time high (ref 6147) and an all-time closing high (ref 6144) on Feb 19, the index has faded and closed below […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index fell 1.71% during Friday’s session to close at 6013.  The index is now below the previously highlighted support levels at 6130 and 6100 while also sitting just above the 50dma (ref 6009) and the 6000 support level.  In the

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) The SPX Index closed the session down 43bps at 6117.  The index did hit a low of 6084, breaking below two of my highlighted support levels at 6130 and 6100.  The 6100 level was regained by the close, but the index remains

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index gained 24bps yesterday, closing at 6144.  While the gain was modest, it did clock a close well above the previously identified 6100/6130 resistance range.  Momentum and trend indicators continue to gradually improve as both Spot VIX and VIX Term

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 1) The SPX Index was essentially flat on the day Friday, closing the session at 6114.  The high came just within a point of the Jan 24 all-time high ticking at 6127.  As price tests the top of the short-term resistance range (highlighted)

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index pushed to a high in yesterday’s session at 6116, closing +1.04% at 6115.  This high came within 12 points of the Jan 24 all-time high at 6128.  For the short term, this push was not at all what I

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index closed the session down just 27bps at 6051.  The index hit an early session low of 6003 (down ~1%) but held support at both the 50dma (ref 6004) and the previously identified 6000 level.  The manic push out of

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 9) The SPX Index fell 95bps during Friday’s session, closing at 6025.  As I have continued to reiterate over the past few weeks, price is showing signs of topping near all-time highs as momentum and trend indicators continue to degrade.  Additionally, Spot VIX

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 6) The SPX faded over 2% yesterday, hitting a low of 5962 early in the session.  The Index closed down 1.46% at 6012.  Headlines aside, internals degraded as the index gaped down and broke back below 6100 support on an intra-day and closing