Charts

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 15) The SPX index lost 1.39% during yesterday’s session, closing at 5521.  This marked a -10.13% drawdown on a closing basis from peak-to-trough.  The low of the day ticked at 5504, clearly testing the previously identified 5500 support level.  Momentum and trend indicators […]

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 14) The SPX index gained a hard earned 49bps yesterday, closing at 5599.  The session was modestly positive as it simply stopped the bleeding after the recent 10% peak-to-trough slide.  That said, momentum and trend indicators remain negative.  Spot VIX closed down 18%

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 13) The SPX index lost another 76bps yesterday, hitting a low of 5528 and closing at 5572.  This intraday low brings the entire peak-to-trough move to -10.07%.  No doubt this triggered some degree of a reversion trade late in the session as my

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 12) The SPX index closed down 2.70% yesterday at 5614.  The intraday low of 5564 marked a peak-to-trough move of 9.49%.  That low also came within 64 handles of my next downside target at 5500.  This move has been exactly what I expected,

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 11) The SPX Index hit an intraday low on Friday at 5666 (down 1.26% from previous close and down 7.83% from peak), then rallied to close +55bps at 5770.  The index remains under pressure, smashing through the previously identified support level at 5700

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 10) Well, that was fun!!!  The SPX Index lost 1.78% yesterday, closing at 5738.  The low of 5711 represented a test of the previously identified support level at 5700 and a peak-to-trough move of 7.08% since Feb 19.  The index broke below the

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX Index rallied 1.12% during yesterday’s session, closing at 5842.  Nothing unexpected as the 200dma (ref 5728) and 5700 acted as support after an over 6% selloff in just 9 sessions.  Momentum and trend indicators remain negative.  However, my Spot VIX

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX Index closed down 1.22% on the day yesterday at 5778.  With a low of 5732, the index essentially tested the 200dma (ref 5725) and was within 32 handles of the previously identified downside target at 5700.  This low also marked

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) The SPX Index hit an early high of 5986, reversed to a low of 5810 (down 2.93%) and closed down 1.76% on the day at 5849.  Momentum and trend indicators continue to degrade.  Spot VIX has rallied 61% (trough-to-peak) in just 8

Market Summary: Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 6) The SPX Index hit a low of 5837 during Friday’s session and then rallied to close +1.59% at 5954.  This “relief rally” makes sense as the index has sold off over 5% in just seven sessions.  The recent slide was as expected