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Market Summary: Current Momentum/Trend Model (MOTR) Signal:  POSITIVE (Day Count = 2) The SPX Index gained 1.61% during yesterday’s session, breaking above the previously identified resistance levels at the 50dma (ref 5460), the 61.8% retracement level (ref 5459) and the 5500 level.  My Momentum/Trend Model (MOTR) flipped from Negative to Positive on the Aug 13 […]

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  POSITIVE (Day Count = 1) Although the session was a bit choppy, the SPX Index extended its gain yesterday and my Momentum/Trend Model (MOTR) has now officially shifted back to Positive (as expected) after holding a Negative signal for 18 days.  To recap, the previous MOTR Negative signal

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 19) The SPX extended the rebound off the Aug 5 lows yesterday and has now recovered over 6% from that 5119 tick.  The Index broke and closed above 5400 (closing price 5434) and is now approaching additional resistance at the 50dma (ref 5451) and

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 18) The SPX Index was up less than one handle yesterday as price action within the recent rally off the Aug 5 low calmed a bit.  The session showed some indecision and potential pause with a high/low spread of 46 points and an open/close

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 17) The SPX Index has now seen a peak-to-trough move of down of just under 10%. On Jul 18 my internal Momentum/Trend (MOTR) model flipped from Neutral to Negative. We have now been Negative for 17 full sessions with a max profit from the

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 16) As I have been reiterating, market internals as I count them remain negative, the MOTR Model remains Negative (triggered on Jul 18) and risk remains to the downside.  That all said, I wrote in yesterday’s note pre-market that “aggressive, short-lived rallies should be

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 15) The SPX index rallied yesterday over 1.50% hitting an early morning high of 5330.  The index then failed and faded ~2.50% to close at 5199.  So, what happened?  First, as I have continued to relay, downside risk remains high as my momentum/trend model

Market Summary: Current Momentum/Trend Model (MOTR) Signal:  NEGATIVE (Day Count = 14) After the recent ~10% peak-to-trough drawdown the SPX index has now achieved all of my previously identified downside targets which were established back in mid-July.  Coming off the Aug 5 low of 5119 the index rallied just under 4% to an intra-day high

Market Summary: Well, that was ugly!!!! Ironically, after pounding the table with warning signs the past 6 weeks there’s not much to say today.  I have not seen a market like this since 2007-09 and I am confident there’s more to come.  The SPX has now seen a peak-to-trough drawdown of ~10%.  Yesterday’s low of

Market Summary: To start, I had written in the July 26 note that I would be traveling last week and would not be issuing another note until today.  What a week it was! While I hate to see such a volatile and destructive market, I am pleased to have been way out ahead of the