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Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 2) The SPX index gained 2.51% on the session yesterday, closing just below 5300 on the 10dma at 5287.  The Apr 21 low (ref 5101) tested 5100 and represented a peak-to-trough, four day move lower of -6.55%.  The aggressive bounce off the 5100 level has […]

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 6) The SPX index gained just 13bps during Thursday’s session, closing at 5282.  Price action overall was relatively subdued with the day’s low (ref 5255) falling right on the 10dma (ref 5256).  As I mentioned last week, for the near term I am focused on

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 5) The SPX index fell 2.24% during yesterday’s session, closing at 5275.  This close came well below the previously identified resistance level at 5400.  In fact, as I wrote yesterday morning, “I would focus on the 5400 level (cash) and the 5364 level (front month

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 4) The SPX index struggled to advance further during yesterday’s session, closing down 17bps and below the previously identified 5400 resistance level.  There seems to be decent supply in the 5400/5500 range as the index is fading these levels once again.  Momentum and trend indicators

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 3) The SPX index gained 79bps during yesterday’s session, closing at 5405.  Price action was somewhat lackluster, hitting a mid-day low of 5358, then retaking 5400 and barely holding on into the close.  Nevertheless, 5400 did hold (short term positive).  However, momentum and trend indicators

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 2) The SPX index took back 1.81% on the session Friday, closing at 5363.  The index continues to try and work higher off the Apr 7 low of 4835 and is now approaching resistance at 5400 and 5500.  Momentum and trend, while still negative and

Current ICAP Momentum/Trend Model (MOTR) Signal: NEUTRAL (Day Count = 1) The SPX index sold off over 6% during yesterday’s session, hitting a low of 5115.  The index then took back approximately half of that loss, closing only 3.46% lower at 5268.  Price action remains as expected; volatile, manic and emotional.  I would remain focused

Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 9) The SPX index gained 9.52% on the day, closing at 5456.  The index has now rallied over 13% trough-to-peak in just two sessions.  Price action is manic with multiple 10% moves intraday over the past three sessions.  Yesterday’s stick was a massive reversal which

Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 8) The SPX index fell 1.57% yesterday, establishing a new closing low for this move at 4982.  The index initially rallied over 4% to start the session, hit a high of 5267, and then reversed sharply trading down 6.78% to a low of 4910.  Overall,

Current ICAP Momentum/Trend Model (MOTR) Signal: NEGATIVE (Day Count = 7) The SPX index ended the session yesterday down a modest 23bps, closing at 5062.  Despite how benign that seems, the index had a wild high/low range of 5246/4835 representing an over 8% spread.  Absolutely manic price action as the index hit a new peak-to-trough