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 670.21

-1.1%

4:00 PM EST

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To: rimshot who wrote (216)

12/26/2020 10:52:32 AM

From: rimshot

Read Replies (2) of 1118

67.80% = a 4-day bounce high for the percentage of the 500 stocks
comprising the S&P 500 index which now reside above their
20-day EMA, as of Thursday December 24, 2020

* bulls MUST see this percentage # increase with a high degree of lasting upward characteristics,
or the bears will control the S&P 500 internals and eventually the SPY & $SPX price action

Important - bears need the percentage of stocks residing above their 20-day EMA to hold below the 50% level

stockcharts.com

Message #216 from rimshot at 12/23/2020 3:55:06 PM

Do NOT ignore this chart set, considered together as a whole -

chart #2 - SPY daily closes chart with S&P 500 internals and S&P 500 McClellan indicators, etc.

* clearly it is time for both bulls & bears to be especially vigilant

stockcharts.com

chart #1 repeated -

RSP equally weighted S&P 500 vs. SPY market capitalization dollar size percentage weighted S&P 500

shown below is a basic view of the daily closes ratio, with the context of 5 of the 11 major industry sectors
comprising a decent percentage of the total S&P 500 price action -

stockcharts.com

* the recent upward movement by the RSP to SPY ratio since September 2020 is near-term constructive
for the S&P 500 current bullish case ...
the technical and evidence-based trader needs to be vigilant for potential lasting future reversals in this ratio

=================================================================================
repeat post of my write up of the overall picture for those who
want to understand the use of Advance-Decline data sets and
the related McClellan metrics derived from the A-D data:

Advance-Decline charts for the S&P 500 index, the S&P 100 index and the
related McClellan's are posted since 2014 here -

Subject 59396

charts display cumulative Advance-Decline breadth lines
which are the cumulative total of daily net Advance-Decline values

Common Stock Only indicators for the NYSE are calculated using only the # of stocks
for operating companies within the NYSE Composite Index (funds are excluded)
CSO indicators often present a more accurate internal picture for the NYSE Composite Index
The NYSE All Issues indicators are calculated using all issues traded in the NYSE Composite Index

The McClellan Oscillator is the difference between the 19-EMA & 39-EMA of daily advances minus declines.
It reflects the short-term strength and direction of market liquidity.
A longer-term view is provided by the McClellan Summation Index, which is the cumulative total of the daily McClellan Oscillator values.
These indicators move within a trading range and often identify the overbought/oversold condition of the market

( McSum = McClellan Summation Index )

the dominant rule is: price will eventually follow the direction of the McSum, except for brief periods of price divergence

The McSum is neutral at the zero line,
bullish while above,
and confirmed bearish while below zero

* the distance down to the McSum zero line currently represents
one objective measure of the minimum downside risk

Confirmed sell signals are a lasting decline below the McSum zero line,
though price action has usually declined by a large amount by the time
zero is reached from the McSum peak above.

Large distances between the McSum daily chart values represent acceleration events in the A-D breadth decline or advance,
and the follow-on price impact has a high correlation with the McSum's direction, and usually has several days staying power

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