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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) I wrote on Oct 29, “I do believe that we will see one final push out ahead of next Tuesday. My gut is that there will be a final move to derisk, trim and hedge long exposure.
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index broke above the upper band of the current downtrend channel (see chart), briefly hitting its head at 5850, then reversing to close near the lows (back within the channel) at 5813 (down 33bps). I
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 5) The SPX Index closed up 17bps at 5832. This close came after a very early dip and low of 5802 as the Index once again held support at the 5800 level. The Index did manage to break
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 4) The SPX Index hit its head early in the session at the top of the highlighted downtrend channel (ref 5840) and proceeded to churn gradually lower for the balance of the day. The Index closed on the
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 3) The SPX Index hit an early session high of 5862 on Friday only to reverse and fade down to a late session low of 5799 and a closing print of 5808. The Index was clearly under pressure
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX Index closed up 21bps on the session at 5809. This was above the highlighted 5800/5796 support/resistance level and 82bps off the Oct 23 low (ref 5762). The Index remains below the support line
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 1) The SPX Index faded (as expected) yesterday, losing almost 1% on the day, closing at 5797. The low on the session was 5762 as price broke down below the highlighted downtrend channel (see chart). Previously identified support
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX Index was down just 5bps on the day, closing at 5851. As benign as that seems, the session was a bit more volatile with a wide high/low range of 5863/5821, a break of
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 8) The SPX Index was down 18bps on the day in what was an indecisive and relatively sloppy session. The high/low spread for the day was 42 handles while the open/close spread was just five. The
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 7) The SPX Index gained 40bps on Friday closing the week at 5864. Although the Index gained 85bps for the week while marking some new all-time highs, resistance at 5878 continues to hold. This is concerning and as
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 6) The SPX Index was relatively unchanged on the day yesterday, closing down just 4bps from the previous close. This close to close move aside, the Index was heavy all day opening near the session high (ref 5875)
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Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: POSITIVE (Day Count = 5) The SPX Index gained 47bps yesterday, closing at 5842. The 5800 support level was tested and held for the second day in a row with a low of 5808. On a near-term basis I remain very focused