Anthony's daily market analysis and charts
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index fell 1.71% during Friday’s session to close at 6013. The index is now below the previously highlighted support levels at 6130 and 6100 while also sitting just above the 50dma (ref 6009)
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) The SPX Index closed the session down 43bps at 6117. The index did hit a low of 6084, breaking below two of my highlighted support levels at 6130 and 6100. The 6100 level was regained by the
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index gained 24bps yesterday, closing at 6144. While the gain was modest, it did clock a close well above the previously identified 6100/6130 resistance range. Momentum and trend indicators continue to gradually improve as
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 1) The SPX Index was essentially flat on the day Friday, closing the session at 6114. The high came just within a point of the Jan 24 all-time high ticking at 6127. As price tests the top of
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index pushed to a high in yesterday’s session at 6116, closing +1.04% at 6115. This high came within 12 points of the Jan 24 all-time high at 6128. For the short term, this
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index closed the session down just 27bps at 6051. The index hit an early session low of 6003 (down ~1%) but held support at both the 50dma (ref 6004) and the previously identified 6000 level.
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 9) The SPX Index fell 95bps during Friday’s session, closing at 6025. As I have continued to reiterate over the past few weeks, price is showing signs of topping near all-time highs as momentum and trend indicators
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 6) The SPX faded over 2% yesterday, hitting a low of 5962 early in the session. The Index closed down 1.46% at 6012. Headlines aside, internals degraded as the index gaped down and broke back below 6100
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 5) The SPX Index faded just 29bps during Friday’s session, closing at 6101. That said, the Index also achieved a new all-time high (ref 6128) but, more concerningly broke back below previous support at 6100 with a
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 4) The SPX ran 53bps on the session, hitting a new all-time high of 6118.73 and closing at 6118.71. As I wrote yesterday, “a breakout above 6100 is the more likely outcome.” This is what we
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 3) The SPX Index gapped up to open at 6081, hit a new intraday all-time high of 6100.81 and closed at 6086 (+61bps). Momentum, trend and VIX signals all remain strong as the Index essentially tested the
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 2) The SPX Index continued its push higher as it ran 88bps during yesterday’s session, closing at 6049. This close is 4.78% higher than the Jan 13 low and just 50 handles below the Dec 6