For the last 15 or so years, my number one intermediate-term bias tool for the market (and individual stocks) is where the price is in relation to and the direction of the 5 DMA Lower low and lower high below flat/decl 5dma = bearish intermediate-term bias for now $SPY pic.twitter.com/9ZkJKgciBB — Brian Shannon, CMT (@alphatrends) […]
Chart of the Day – Tuesday, February 18th, 2020
Watching closely this week to see if prices of the major indices close below their January highs and confirm the many bearish divergences we're seeing. Although this would be a signal of near-term weakness, as long as the S&P is above 2,950 then structurally things are intact. pic.twitter.com/pFg1AiVU1I — Tom Bruni, CMT (@BruniCharting) February 18, […]
Chart of the Day – Wednesday, February 12th, 2020
Highest ratio for consumer discretionary to staples since July 2019 on today's close. Some divergences persist across the broader market like RSI and % of companies above 50dma in $SPX, but some are working towards resolution like NYSE common-stock online AD line. Price is king. pic.twitter.com/RPQVsvEcYG — Michael McKerr (@MikeMcKerr_TDA) February 12, 2020 Today’s Chart […]
Chart of the Day – Monday, February 10th, 2020
Add this chart to the list of bearish divergences abounding right about now…S&P at new highs but less stocks rebounding above their moving averages.$SPX $SPY pic.twitter.com/lDdjlBqmn5 — David Keller, CMT (@DKellerCMT) February 10, 2020 Today’s Chart of the Day was shared on Twitter by David Keller (@DKellerCMT). It’s a chart of the S&P 500 over […]
Chart of the Day – Thursday, January 30th, 2020
BAYCREST: S&P 500 “is starting to break below its uptrend channel .. We see risk to the 50 DMA around 3208 .. Should the 50 DMA not hold, the risk is a bigger 5-6% move down as there is a ‘volume pocket’ towards the 3,000 level.” – @jkrinskypga pic.twitter.com/gwCH5TjldE — Carl Quintanilla (@carlquintanilla) January 30, […]
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