Anthony's daily market analysis and charts
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 4) The SPX Index was down 1.11% on the day Friday, closing at 5970. There was clearly a push out of equities as the Index opened on the high (ref 6006.17) and hit a low of
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 3) The SPX Index ended the session essentially unchanged at 6037 after hitting a session high of 6049 and low of 6007. The 6050 level was “sticky” heading into the Dec 18 selloff and has now acted as
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX Index extended its year end rally with a gain of 1.11% during the shortened Christmas Eve session. The closing print of 6040 is well above my estimated upside of 6000 for this rally. Internals
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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