Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) I apologize for not having written a note the past two days.  I was away from the desk working at the polls and participating in our wonderful election process.  Democracy at work!! Quick recap – On Oct 30 I wrote that “I […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index, after a down 1.86% day on Oct 31, attempted to bounce back on Friday.  The Index opened up at 5723 and rallied early to a high of 5772.  This was 1.22% above the Oct 31 low.  The Index then

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) I wrote on Oct 29, “I do believe that we will see one final push out ahead of next Tuesday.  My gut is that there will be a final move to derisk, trim and hedge long exposure.  I expect 5800 to break

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index broke above the upper band of the current downtrend channel (see chart), briefly hitting its head at 5850, then reversing to close near the lows (back within the channel) at 5813 (down 33bps).  I have been writing over the

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 5) The SPX Index closed up 17bps at 5832.  This close came after a very early dip and low of 5802 as the Index once again held support at the 5800 level.  The Index did manage to break above the resistance line of

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index hit its head early in the session at the top of the highlighted downtrend channel (ref 5840) and proceeded to churn gradually lower for the balance of the day.  The Index closed on the low at 5823, up 27bps

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 3) The SPX Index hit an early session high of 5862 on Friday only to reverse and fade down to a late session low of 5799 and a closing print of 5808.  The Index was clearly under pressure intraday but closed down just

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index closed up 21bps on the session at 5809.  This was above the highlighted 5800/5796 support/resistance level and 82bps off the Oct 23 low (ref 5762).  The Index remains below the support line of the short-term downtrend channel which extends