For the last several months the SP-500 has been confined to a sideways channel. This week we had a convincing move to the downside. We were positioned for such a move given our bearish signals seen last week.The general market trading filter I use (SP-500 53 day CCI) is at -283 indicating Market Down which is down from -56 last week. My multiple composite SP-500 indicators on the daily chart are Bearish with the Blau Ergodic Composite Indicator and the MACD composite indicating a down trend. The SP-500 index is down ~14.2% from the recent May high of 1370. The CCI(53) indicator for all the indices on the right of this page are strongly bearish with only the IEF bond fund as bullish.
The Guppy Plot for the SP-500 is Bearish, with the Fast moving averages now under the Slow moving averages. The average slopes of the Slow Moving Averages and Fast Moving Averages are both strongly negative. The ADX components are bearish and the Stoch is down.
We’ll see what the next week brings. We don't try to forecast the market here, rather we just monitor the current conditions and react accordingly. I hope you find this blog helpful. If you do, why not leave a comment.
This week's Rankings continue to have Bond Funds and Short Funds at the top. Ranking scores are color coded to indicate positive ranking scores (rate of change / volatility) in green, and negative ranking scores in red. Overall the list is sorted by overall rank but the score that makes up the rank can be positive or negative depending on the recent rate of change. The full list of the funds that are ranked can be found under the Funds tab. Current Rankings of the Funds can be found under the Rankings tab.
What Others are Saying (all free sites): Overall Bearish