Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX Index broke previously identified support at 5864 very early in the session, hitting a low of 5832.  The Index then rallied over 2.5% to hit a high of 5982 and closed up 1.09% on the day at 5930.  Overall, the […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index closed essentially flat at 5867 after a failed attempt to rally very early in the session.  The high on the day was 5935 which was actually just 10 points shy of the 38.2% retracement of the Dec 18 bar. 

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) Oh Magoo, You’ve Done It Again!!!! For almost two weeks I have been writing (and positioning) that risk was skewed to the downside and that volatility was poised to spike aggressively higher in the near term.  In fact, on Dec 11 I

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index closed down 39bps yesterday at 6050.  The Index hit a low of 6035 on the heaviest volume since Nov 15.  Momentum and trend indicators continue to fade.  Spot VIX rallied ~10% and is now up ~20% for the month

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 5) The SPX Index rose a modest 38bps yesterday, hitting a high of 6085 and closing at 6074.  The Index continues to do work below the 6100 level as internals remain negative to flat.  I continue to believe that there is a high

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index ended Friday’s session dead flat at 6051 although the high/low range for the day was relatively wide at 6078/6035 (43 points).  The Index essentially opened at the highs and faded for the balance of the cash session.  The Index

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index was down 30bps yesterday, closing at 6034.  The Index has now had a three-day, peak-to-trough move of -1.15%.  Internals have faded and Spot VIX looks poised to spike.  The ICAP Momentum/Trend (MOTR) Model signal has shifted to Negative.  I

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX Index faded 61bps yesterday following the previous session’s test of resistance at 6100.  The low on the day was 6048 and the close was marked at 6052.  As I wrote yesterday, “I would expect trading to begin to slow down

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index hit both an all-time intraday high (ref 6099) and closing high (ref 6090) during Friday’s session.  Internals are relatively supportive with momentum and trend indicators positive to flat.  Spot VIX and VIX Term Structure remain in a “risk on”

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 8) The SPX Index hit an incremental new all-time high (ref 6094) but faded into the bell, closing down 19bps at 6075.  The stall in price came with lighter than average volume and dull internals.  Spot VIX and Term Structure remain in a