SPX breadth indicator has rebounded sharply. Have to see the monthly downtrend broken before getting too bullish.
- S&P is trading above its 100-period SMA, which has turned green, illustrating positive price momentum - Breadth ratio is < 2.0, which is a weak bullish signal, but is starting to gain positive momentum - Net Advance Decline Line is still < 1000, which is a "not as strong" bullish signal, but is above its 21-period EMA and is rising quickly to break 1000
Overall, the AMEX:SPY was trading below its 100-period SMA for a majority of the day, with the 5-minute chart well below the 100-period SMA - Breadth Ratio ( NYSE:UVOL / USI:DVOL ) was showing a ratio of greater than 2.0 which a sign to look for bearish/shorting opportunities on the day - Net Advance/Decline Line ( USI:ADVN.NY - USI:DECL.NY ) was below...
- Snapshot of the Market Internals for July 18, 2016 - S&P 500 index was trading above it's 100-period simple moving average, which is a sign for positive price action - Breadth Ratio (UVOL to DVOL) was less-than stellar with volume flowing into securities increasing over volume flowing into securities decreasing at a ratio of less than 2.0x for a majority of...