One might think from looking at market behavior these last 2-3 weeks that a new deadly unknown pandemic was starting, not a .05% miss on an inflation estimate and a few months pushback of future interest rates relaxing by 1/2 a percent. Almost every intermediate breadth/trend signal I follow has flipped to bearish. As fast as they did when the CV panic hit. Hopefully a bit overdone, methinks (but not predicting).
Overall: -6 - swing from +6 in 2 weeks.
| Intermediate-Term | ||||
|---|---|---|---|---|
| BearCatcher | Nasdaq New Highs/New Lows | Bear | 4/12/24 | |
| BearCatcher | SMA Slope, S&P 500 | Bull | 11/10/23 | |
| BearCatcher | Dying Bullish Euphoria comb. | Bull | 12/14/23 | |
| BC Summary | The Key | 1 | 2 | |
| Momentum, Int | # 26 week highs | 1/19/24 | ||
| Momentum, Int | DMI | Bear | Bull | 4/19/24 |
| Momentum, Int-Term | 10/50 Crossover | Bear | 4/19/24 | |
| Momentum, Int | PPO Weekly | Bear | 4/19 | |
| Momentum, Int | 26W / 52W | Bull | 11/10/23 | |
| Breadth, midterm | PAMA Naz 50 | Bear | 4/12 | |
| Breadth, midterm | Breadth Confirms | Bear | 4/12/24 | |
| Breadth, midterm | Naz Bullish % | Bear | 4/19/24 | |
| Breadth, midterm | S&P PAMA 200 | Bull | 12/15/23 | |
| Breadth Thrust | Breadth Thrust | Watch | ||
| Correction Mode | >7% off last peak | Bull | 11/9/23 | |
| Timing, Seasonal | MACD on RUT | Bear | 4/19/24 | |
| Interest Rates | Corporate Bond Index | 2/16/24 | ||
| Short Term | Top Warning | 5 | ||
| Momentum, ST | PPO Daily | Bear | 3/22/24 | |
| Breadth, short term | SP600 PAMA20 | Bear | 3/15 | |
| Breadth, short term | PAMA5D %OFF 21dh | Bear | 4/12/24 | |
| Top, short term | PAMA Divergence Highs | Bear | 2/16/24 | |
| Top | PAA Count | Bear | 12/18/23 | |
| Top | Recent Simple Top | 1/10/24 | ||
| Top | Primary-Tech Divergence | |||
| Bottom | Extreme PAMA low | Bull-weak | 4/12/24 |