$SPX S&P 500 closes week above 200 day MA; eyeing 2800 resistance and key Fib at 2810 #IBDpartner
On Dec 24, only 1% of stocks in the S&P 500 closed above their 50-day moving avg, one of the most extreme oversold levels in history.
After a 17% vertical rally, that number now stands at 89.8%, highest since April 2016 & in 97th percentile of historical readings.
Bell Ringer! $SPX futures with DeMark Combo, Aggressive Sequential, and today Sequential Countdown 13.
$VIX has closed under 15, for the first time in more than 4 months
Historically, this was:
Bearish for the S&P 500 $SPX 87% of the time 2 months later
Bullsi for the S&P 100% of the time 1 year later
Over the past, yield spreads have narrowed significantly, similar to prior times that led to the 2000 and 2007 recessions. $SPX
This may the most important chart of the week from my good friend Mike Wilson. Either the Fed gets hawkish again, or the economy rolls over hard. This spread is historic and CANNOT hold. Something has to break one way or the other. Neither is good for stocks. $ES_F $SPX
Chart Of The Week (by views): Investors Pile Back Into Stocks $SPY $SPX
Post: https://lyonssharepro.com/2019/02/investors-pile-back-into-stocks-unlocked-premium/ …
No comments:
Post a Comment