SPY Advance - Decline data for 2014 through 2016 Message Board

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Strategies & Market Trends : SPY Advance - Decline data for 2014 through 2016

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: rimshot who wrote (47)	9/28/2014 11:51:03 AM
From: rimshot	Read Replies (3) of 1118

current price vs. the 50-day sma, as of Friday September 26: Summary: what stands out is that the breadth A-D line for the S&P500 has recently seen a 1-day violation of its July high and a 1-day bounce now slightly above the July high, while the S&P500 and the OEX price action remain below their highest July high and only slightly above their 50-day sma. The S&P500 volume A-D line remains below its July high, which is bearish confirmation by this metric while this condition lasts. These chart conditions combine to increase the future directional uncertainty, which means more time is required for clarity. Note the upside 50% retracement level for the recent SPY decline into the September 25th lower low was not approached by the intraday high during September 26. And a bearish trading bias will be improved to actually see a future price rejection below the upside 61.8% retracement level especially if that rejection occurs near or below the 50% level. NYSE Common - below 50-day sma NYSE all issues - below COMPQ - slightly above Nasdaq 100 - above S&P500 - only 6 points above the 50-day sma OEX100 - only 6 points above DJIA - above Midcap - below Small cap - far below, and resting near the lower daily 50,2 BB WLSH 5000 - slightly below XLK - only 19 cents above XLF - above XLV - far above XLY - slightly below XLI - only 1 cent below XLE - far below, and resting near the lower daily 50,2 BB XLP - above XLB - above XLU - below * WLSH 5000 daily chart with the breadth and volume A-D lines: it is important to note the August low for the breadth A-D line remains nearby, and the 1-day test of the August low for the breadth A-D line has technical merit while this condition lasts

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