Please try another search
The bottom window is the correlation between the VVIX and S&P 500 5 period. The market can be near a reversal when this correlation gets over .00 (currently .30). Next window up is the VVIX/VIX ratio with a 3 day average. This indicator helps to define the trend, and it has turned lower today.
The next window up is the rate of change (ROC) of the VVIX. When the ROC of the VVIX is near -10, the SPX can be near a short-term high (currently at +9.72). The market has least stalled in the rally phase. The bigger picture suggests the mid-June low could be the bottom for this year.
The top window is the SPX McClellan Oscillator. This chart goes back to mid-2018 and shows the times when the SPX McClellan Oscillator traded above +100, identified with red vertical lines. On July 29 of this year, the SPX McClellan Oscillator closed at +100.57. The SPX Oscillator hit +100 eight times (not counting this time) going back to mid-2018, and all but one had either a short-term pullback or at least traded sideways for at least a couple of weeks.
As mentioned before, the market has interred into the 3RD quarter, the weakest quarter of the year. The evidence suggests the market is entering into a trading range that may last most of the third quarter.
Above is one of the indicators that is giving an intermediate-term signal. The bottom window is the 50-day average for the Up down Volume percent, and the next window up is the 50-day average of the Advance/Decline percent.
Intermediate-term lows have formed when both indicators traded below -20 and turned up, which are noted with red vertical lines. The previous signals had led to a sideways or up and down pattern before the rally began, suggesting that may happen here.
Notice that when both indicators reached below -20 and turned up, they continued to advance even though VanEck Gold Miners ETF (NYSE:GDX) traded sideways. We contribute this to strengthening the gold miners bullish percent index where more stocks produce Point and Figure buy signals. The evidence point to a base building bottom that may take several weeks for the rally to get going.
If you had been following the S&P 500 closely this past week, it likely would have left you scratching your head if you were trying to align the news with the market action. For...
The Russell 2000 (IWM) has been defending its 50-day MA over the early part of 2024, but the last few days have seen a shift in this support with 'sell' triggers in the MACD and...
Consumer instinct is a wonderful attribute to have and is generally talked about when considering stocks to buy.What Is the “Consumer Instinct”? “Peter Lynch is one of the most...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.