CHARTS_CCI_SYSTEM

[rimshot]

SPY bull/bear dividers are marked on this
daily chart with:
1. horizontal lines,
2. moving averages, and
3. Bollinger Bands

placed on several chart elements in this single
chart

* November 2017 through late January 2018 saw the 100 very largest
market capitalization stocks represented by the S&P 100 index leading
the entire 500 symbol set in the S&P 500 index price action, which was
not a healthy foundation for a lasting price advance
( a negatively divergent internal vs. the record price levels for SPY )


the use of the SPXEW:SPX ratio is about measuring
the degree of price participation by the
500 symbols
vs. by the 100 largest market cap. symbols
contained within the S&P 500 index

Important Note - the SPXEW:SPX ratio
is approaching its 2017-2018 low, and this
reflects an unhealthy development for the
potential staying power
of a lasting price advance, since a
minority # of stocks in the weighted S&P 500
index are carrying the bulk of the daily %
price change during the current price bounces