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Strategies & Market Trends : General market lab and commentary

SPY 683.00

+0.2%

Nov 11 4:00 PM EST

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From: Robohogs	5/16/2016 2:52:52 AM
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Lots of fear out there. Just not in VIX. Citi fear and greed index at minor panic levels. Sentiment indicators all have low bulls but bears not that high - more of a "no upside, modest downside" kinda view - guess that may be vix too. TRIN at 2 says downside overdone - turn soon on ST basis. Put/calls modestly elevated but for long period. Says turn soon. Nymo bottom right on chart. Says turn soon. Many, many charts (check out Dana Lyons on twitter or tumblr) connecting to trendline support. Says need to turn soon. Also see my XBI chart in same trendline vein. Meisler looking for bounce soon. But she sees more down after. May opex as mentioned previously is pretty neutral, actually slightly bearish. My own timing stuff says mkt becomes more favorable broadly and for bios particularly, as we enter late month. Week after opex also relatively better. I think we have modestly higher prices over 2 weeks - no gtee we don't have some downside. Late last week improved odds of higher opex in my view - gave weakness to buy. As we enter Monday, we are at neckline on a ST inverse H&S targeting 2055 futures. If we are below 2044, it has been invalidated.

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