Founder & CEO of AscalonVI Capital. 17-year NYSE veteran, Chartered Market Technician (CMT). Frequent contributor on Fox Business, Newsmax, and CNN. Co-host of Policy & Profits podcast.
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index continued to bounce during yesterday’s session with a +73bp day and a high/close of 5978/5974. This high/close came at previously identified support/resistance at 5976 (see chart). I continue to
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX Index broke previously identified support at 5864 very early in the session, hitting a low of 5832. The Index then rallied over 2.5% to hit a high of 5982 and closed up 1.09%
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index closed essentially flat at 5867 after a failed attempt to rally very early in the session. The high on the day was 5935 which was actually just 10 points shy of the 38.2%
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) Oh Magoo, You’ve Done It Again!!!! For almost two weeks I have been writing (and positioning) that risk was skewed to the downside and that volatility was poised to spike aggressively higher in the near term.
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index closed down 39bps yesterday at 6050. The Index hit a low of 6035 on the heaviest volume since Nov 15. Momentum and trend indicators continue to fade. Spot VIX rallied ~10% and is now
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 5) The SPX Index rose a modest 38bps yesterday, hitting a high of 6085 and closing at 6074. The Index continues to do work below the 6100 level as internals remain negative to flat. I continue to believe
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index ended Friday’s session dead flat at 6051 although the high/low range for the day was relatively wide at 6078/6035 (43 points). The Index essentially opened at the highs and faded for
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index was down 30bps yesterday, closing at 6034. The Index has now had a three-day, peak-to-trough move of -1.15%. Internals have faded and Spot VIX looks poised to spike. The ICAP Momentum/Trend (MOTR)
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX Index faded 61bps yesterday following the previous session’s test of resistance at 6100. The low on the day was 6048 and the close was marked at 6052. As I wrote yesterday, “I would expect
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index hit both an all-time intraday high (ref 6099) and closing high (ref 6090) during Friday’s session. Internals are relatively supportive with momentum and trend indicators positive to flat. Spot VIX and VIX Term
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 8) The SPX Index hit an incremental new all-time high (ref 6094) but faded into the bell, closing down 19bps at 6075. The stall in price came with lighter than average volume and dull internals. Spot VIX and
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 7) The SPX Index had a strong session yesterday with a gain of 61bps, closing at yet another all-time high of 6086. Momentum, trend indicators and volume all improved confirming the strength in price. Spot VIX and Term