Monday, October 20th, 2025
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Generic 1st Month S&P 500 E-mini (ES1) DAILY Count:[/caption]
Current ACAP Momentum/Trend Model Signal: NEGATIVE (Day Count = 6)
The ES1 Index (Generic 1st Month S&P 500 E-mini) gained 51bps during Friday’s session, closing at 6714. The index reversed on the overnight low (ref 6571), closing the session 2% higher with improved momentum and trend indicators. The peripheral VIX signals I run are sloppy suggesting a large move is developing. My Spot VIX signal shifted to “risk on”. My VIX Term Structure signal shifted back to “neutral”. The ACAP Momentum/Trend Model signal for the ES1 Index remains Negative. Risk seems skewed to the downside under the current setup. I am watching the ACAP signal closely.
ACAP Signal Snapshot:
S&P 500: Negative
Russell 2k: Negative
Gold: Positive
VIX: Positive
Crude Oil: Negative
Trade Support:
6629: 50dma
6540: Oct 10 low
Trade Resistance:
6720: 20dma
6812: All-Time High (Oct 9)