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: NEGATIVE (Day Count = 2) The SPX Index closed just 17bps lower yesterday at 5699. The day showed plenty of indecision as the high/low range was 41 handles wide with an open/close range of just one single point. The support/
Video
[embed]https://youtu.be/p0zvbdPa-ZA?si=U8CViyk9gYDa3gun[/embed] On the David Webb Show of Thursday 10/3 Anthony Esposito joined David to discuss the port strike, the economy and the state of work force.
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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
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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
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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
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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
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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/
Podcast
Everything is fine, just fine...until you follow the model, listen to liars and analyze the chart.
Video
[embed]https://youtu.be/kNDS5_YJLkw[/embed] Everything is fine, just fine...until you follow the model, listen to liars and analyze the chart.
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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
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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)
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Market Summary: Current Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index was relatively subdued yesterday, quietly gaining 28bps and achieving an all-time closing high of 5718. Spot VIX remains pressed, closing at 15.89 as Term Structure slides deeper into “risk on” territory. My ICAP Momentum/