Charts

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 8) The SPX Index was down 18bps on the day in what was an indecisive and relatively sloppy session.  The high/low spread for the day was 42 handles while the open/close spread was just five.  The low of the day was 5824, which […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 7) The SPX Index gained 40bps on Friday closing the week at 5864.  Although the Index gained 85bps for the week while marking some new all-time highs, resistance at 5878 continues to hold.  This is concerning and as I stated last week, the

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 6) The SPX Index was relatively unchanged on the day yesterday, closing down just 4bps from the previous close.  This close to close move aside, the Index was heavy all day opening near the session high (ref 5875) and closing near the session

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 5) The SPX Index gained 47bps yesterday, closing at 5842.  The 5800 support level was tested and held for the second day in a row with a low of 5808.  On a near-term basis I remain very focused on 5800 as key support. 

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) I wrote in yesterday’s note that “the Index seems to have additional upside from current levels.  A break above 5878 (resistance) sets up for a potential test of 5970 and 6000.  I would think this is the likely path but would expect

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index continued its rally with a +77bps day closing at 5859.  The session high was 5871, just 7 points from the previously identified upside target of 5878.  As I said in yesterday’s note, risk is skewed to the upside.  The

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 2) As I stated in the Oct 10 note, “the Index seems poised to break higher through the 5800 level with a retest of 5760 (now support) likely to occur first.  I am watching for that re-test and/or need the MOTR Signal to

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index ran 71bps on the session breaking and closing above 5760 resistance.  The Oct 7 test and hold at the 5686 support level seems to have been the key with the Index at new all-time highs, closing at 5792.  Pure

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 5) After the Oct 7 move down of ~1% and test of support at 5686 the Index bounced back during yesterday’s session hitting a high of 5757 and closing up 97bps at 5751.13.  This closing print brought the Index back above the 5733

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 4) Price action during yesterday’s session for the SPX Index was expected and uniform.  The Index was down 96bps on the day, closing at 5695.  The 5733 support level which I have remained focused did not hold.  The Index then faded the entire