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Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 6) The SPX index gained 73bps yesterday, closing at 6345.  This close was just above the 10dma (ref 6342) and just below the bottom of the intermediate term uptrend channel (ref ~6370).  Momentum and trend indicators were flat.  My Spot VIX signal is “risk on”.  The […]

Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 5) The SPX index lost 49bps on the session, closing at 6299.  The high on the day (ref 6346) marked a test and failure at the 10dma (ref 6344) and a failed attempt at re-entering the highlighted uptrend channel (see chart).  In my opinion, for the

Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 4) The SPX index gained 1.49% on the session, closing at 6329.  As I wrote yesterday coming off Friday’s gap down, “At this time risk remains skewed to the downside but I would be focused on reducing short exposure unless 6200 breaks.  Model aside, I could

Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 3) The SPX index lost 1.60% during Friday’s session, closing at 6238.  The session created a gap down out of the previously highlighted uptrend channel which originated on April 30 (see chart).  The index has now marked a two-day, peak-to-trough move of -3.33%.  The low ticked

Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 2) The SPX index lost 37bps on the session, closing at 6339.  What’s much more interesting about the price action was that the index opened exactly at the high (ref 6427.02) and faded for the balance of the session.  Additionally, the index gave up the 6400

Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 1) The SPX index lost 12bps on the session yesterday, closing at 6362.  The 10dma (ref 6344) was broken on an intra-day basis as the index hit a low of 6336 but held for the close.  The session overall was weak with a lower low and

Current ACAP Momentum/Trend Model Signal: NEUTRAL (Day Count = 1) The SPX index lost 30bps during yesterday’s session, closing at 6370. The index hit a new all-time high (ref 6409) very early in the cash session and then struggled for the balance of the day. Yesterday’s high/low/open/close (6409/6363/6405/6370) created a large, negative stick. This large,

Current ACAP Momentum/Trend Model Signal: POSITIVE (Day Count = 1) The SPX index gained just 2bps on the session yesterday, closing at 6389.  The index did test 6400 with a high of 6401 but faded back to the previously identified resistance level of 6390 for the close.  My momentum and trend indicators improved slightly.  My

Current ACAP Momentum/Trend Model Signal: NEUTRAL (Day Count = 2) The SPX index gained 40bps during Friday’s session, closing at a new all-time high of 6388.  The index remains at/near the previously identified upside target of 6390.  My momentum and trend indicators are improving as the index seems to be building up steam for a

Current ACAP Momentum/Trend Model Signal: NEUTRAL (Day Count = 1) The SPX index gained just 7bps during yesterday’s session, closing at yet another all-time high of 6363.  The index also hit a new intra-day high of 6381 (just 9 handles below our 6390 price target).  My momentum and trend indicators are stabilizing.  My Spot VIX