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Strategies & Market Trends : General market lab and commentary

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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From: Robohogs	3/25/2016 3:38:21 AM
	of 668

Price remains near highs. The bad week seasonality for this past week held up as did positive seasonality of Good Friday (trend up day to green from red gap down). Everyone seems to be looking for mkt to change from bull recovery to uber bear. Sentiment indicators are still far from exuberant. Put calls remain high after being low a few days which, as usual, preceded the decline. NYMO is in range of a normal move down and is now, surprisingly almost oversold. Put call moving avg is now rising so could indicate more flat to weak action. That would take NYMO lower to oversold although it could rise now. Yellen needs to get control of her minions to get rally going. Idiots do not send consistent message. As for bios, I will stop pussyfooting as mkt collapsed even with me being cautious in wording. We are getting to make or break. XBI has an inverted head and shoulders on horly and daily which could trigger high 50s. If that happened, IBB would break back above breakdown signals and trigger a W for even more action. RSI very oversold here but not as low as February. I suspect bios may catch a bid if mkt treads water or only falls slightly near term.

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