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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX index lost 1.10% on the session, closing at 5712. I had noted that the Mar 25 stick created a doji, representing “indecision/pause as the index begins to encounter more significant resistance from 5750
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 2) The SPX index gained just 16bps on the session closing at 5776. The day’s price action formed a small doji with a high/low spread of 26 points and an open/close spread of just one
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 1) The SPX index gained 1.76% on the day, closing at 5767. This marks a 4.46% rally from the Mar 13 close (ref 5521). The index has now cleared resistance at 5700 and 5750. Additional near-term
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 4) The SPX index gained just 8bps on Friday, closing at 5667. However, in the process, the index did hit a low of 5603, marking the second test of 5600 in the past four sessions. As the index
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 15) The SPX index lost 1.39% during yesterday’s session, closing at 5521. This marked a -10.13% drawdown on a closing basis from peak-to-trough. The low of the day ticked at 5504, clearly testing the previously
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 14) The SPX index gained a hard earned 49bps yesterday, closing at 5599. The session was modestly positive as it simply stopped the bleeding after the recent 10% peak-to-trough slide. That said, momentum and trend indicators remain negative.
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 13) The SPX index lost another 76bps yesterday, hitting a low of 5528 and closing at 5572. This intraday low brings the entire peak-to-trough move to -10.07%. No doubt this triggered some degree of a reversion trade
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 12) The SPX index closed down 2.70% yesterday at 5614. The intraday low of 5564 marked a peak-to-trough move of 9.49%. That low also came within 64 handles of my next downside target at 5500. This
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 11) The SPX Index hit an intraday low on Friday at 5666 (down 1.26% from previous close and down 7.83% from peak), then rallied to close +55bps at 5770. The index remains under pressure, smashing through
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 10) Well, that was fun!!! The SPX Index lost 1.78% yesterday, closing at 5738. The low of 5711 represented a test of the previously identified support level at 5700 and a peak-to-trough move of 7.08% since
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX Index rallied 1.12% during yesterday’s session, closing at 5842. Nothing unexpected as the 200dma (ref 5728) and 5700 acted as support after an over 6% selloff in just 9 sessions. Momentum and trend
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index closed down 1.22% on the day yesterday at 5778. With a low of 5732, the index essentially tested the 200dma (ref 5725) and was within 32 handles of the previously identified downside target