Category: Stock Market Internals

Splash Image How Market Internals Can Improve Your Trading

How Market Internals Can Improve Your Trading

If you trade stocks and you don’t follow market internals, also known as market breadth, then you’re missing out on a lot of valuable information.

Like any other study or indicator, market internals aren’t guaranteed to get it right all of the time, but when they do begin to diverge or exhibit some

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Current Stock Market Technicals Into the Fed

All eyes are on the Fed tomorrow which has the potential to be a market moving catalyst. I have no helpful insights into what remarks to look for from the release, but I can outline the current stock market technicals to help you create a plan for the reaction.

  • The $SPY ETF is trading around its largest pullback YTD which is a laughable 3 SPY points off highs.
  • The VIX is off YTD lows, trading north of 12 and was up about 10% on the day earlier in the session.

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Put Call Ratio Spike Lower Suggests Excessive Bullishness

Markets closed strongly in the green today after a mostly red open and early sluggish action. Even the slightest weakness continues to get bid up.

We’ve closed higher 5 days in a row in the S&P500 and it’s clear on nearly any market indicator that we are in overbought territory.

Today, we have our newest confirmation that sentiment is near-term excessively bullish, based on the closing total put/call ratio seen below.

Image of CPC Ratio - The Trade Risk Evan Medeiros Swing Trade Alerts

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Two Measures of Breadth That Say Don’t Fight The Trend

The stock market continues to rally.

Just today the Russell 2000 $IWM made new intraday all time highs.

iwm_12_6

So as we march higher, lets take a look at some of our favorite market breadth indicators for confirmation in this move.

Below this chart of the S&P500 $SPY I have displayed NYSE New Highs / New Lows and cumulative Advance decline line indicators.

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McClellan Oscillator Signaling Bounce Area?

The market has been a mess over the past few months.

We’ve chopped around in micro ranges, and moved sideways with a slight downward bias ever since we made new all time highs in the $SPY back in August.

One indicator that has identified oversold bounce levels over this period is the McClellan Oscillator.

nymo_11_2

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