Author name: sunygxc

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 1) The SPX Index closed yesterday’s session essentially flat at 5709.  However, there was plenty of price action and internal action to discuss.  On an intraday basis the 5686 support level was again broken as the Index hit a low of 5674 matching

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal:  NEUTRAL (Day Count = 4) The SPX Index closed almost 1% lower on the day at 5708.  After opening on the high at 5757 the Index broke and closed below the previously identified support level at 5733.  This 5733 level has been a major focus for me

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal:  NEUTRAL (Day Count = 3) A late session rally pulled the SPX Index off the session low of 5703 to a high of 5765 and a close of 5762.  Note the 10dma (ref 5708) held as intraday support.  The Index continues to churn around what I see

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEUTRAL (Day Count = 2) The SPX Index closed Friday’s session down 13bps at 5738.  I would note that the key 5733 support level was violated on an intraday basis (low of 5727) but held on a closing basis.  Overall, internals are flat to fading as the Index

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEUTRAL (Day Count = 1) The SPX Index closed up 40bps yesterday at 5745.  Price action was bullish as the Index broke and closed above the previously identified resistance level of 5733.  Unfortunately, internals did not confirm this move as the ICAP Momentum/Trend (MOTR) Model shifted from Positive

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  POSITIVE (Day Count = 5) I continue to focus on the near-term support/resistance range derived from the Sep 19 range of 5686/5733.  Although the SPX Index did hit an early session “head fake” high yesterday of 5741 it quickly broke back below 5733, hitting an intra-day low of

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  POSITIVE (Day Count = 4) The SPX Index gained a very modest 25bps on the day, achieving another closing all-time high at 5732.  As I wrote in yesterday’s note, I am focusing on the support/resistance range of 5686/5733 (see chart).  Note, the Index was unable to break out